LNG market developments - Intertanko LNG WG 2015/EXMAR - LNG... · LNG market developments 12th of...
18
LNG market developments 12 th of February 2015 Jonathan Raes – development EXMAR LNG Infrastructure
Transcript of LNG market developments - Intertanko LNG WG 2015/EXMAR - LNG... · LNG market developments 12th of...
LNG market developments 12th of February 2015
Jonathan Raes – development EXMAR LNG Infrastructure
Introduction EXMAR & LNG
3
EXMAR Company Introduction Shipping & Energy Infrastructure Provider
Private & Confidential
Listed on NYSE Euronext, Brussels
°1829 shipbuilding °1981 shipping °2003 floating
terminals
WORLDWIDE presence with around 1,700
EMPLOYEES of diverse nationalities
Newbuidling program 8 LPG carriers
2 FLNG’s 1 FSRU
Owning/Operating 35 LPG carriers
10 FSRUs 5 LNGC’s
5 offshore units
Fully integrated group of companies
LEADERSHIP THROUGH
INNOVATION
4
Innovating Along the LNG Value Chain
EXMAR
since
2005
Traditional LNG value chain
Midstream Downstream Upstream
EXMAR
2015
Integrated
Offshore
Solution
Provider Floating Liquefaction
LNG Carriers + Floating Storage & Regasification (FSRU)
By 2015, EXMAR to cover the full gas value chain
Gas
Field
Liquefaction
Facility
LNG Storage
Tank
LNG Tanker LNG Storage
Tank
Vaporizers To Pipeline
System
Power
Plant
LNG Carriers + Floating Storage & Regasification (FSRU)
Private & Confidential
Traditional
Value
Chain
EXMAR & Floating Regasification
6 Private & Confidential
Boston, USA Turret-moored Commissioned 2008
Hadera, Israel Turret-moored Commissioned 2013
Gulf of Mexico, USA Turret-moored Commissioned 2005 Decommissioned 2012
Livorno, Italy Turret-moored Commissioned 2013
Teesside, UK Jetty-moored Commissioned 2007
Bahia Blanca, Argentina Jetty-moored Commissioned 2008
Escobar, Argentina Jetty-moored Commissioned 2011
Mina Al-Ahmadi, Kuwait Jetty-moored Commissioned 2009 End contract 2014
Guanabara bay, Brazil Jetty-moored Commissioned 2014
Deploying FSRU’s since 2005
EXMAR regas project in operation
Existing floating LNG import projects
DUSUP, Dubai Jetty-moored Start-up 2015
7
Latest development: FID for 25,000 m³ FSRU
• EXMAR & Pacific Midstream ordered a 25,000 m³ FSRU in February 2014.
• EPCIC contractor is Wison shipyard in Nantong, China.
• The FSRU is based on proven technologies from experienced partners – Wison
– Black & Veatch
• Increased flexibility compared to existing floating regasification solutions through a modular approach
• FSRU delivery Ex-Yard: 2H 2016.
Private & Confidential
EXMAR & Floating Liquefaction
9
Update on the Caribbean FLNG Project
• EXMAR to build, own, operate and maintain the world’s first Floating LNG (“FLNG”) unit
– Expected to be delivered 2H 2015
– Construction currently on-schedule
• Operate under a 15-year contract with Pacific Rubiales Energy Corp. (“PRE”)
• Export capacity: 0.5 MMt per year
• Storage: 16,100 m3 + Floating Storage Unit
(“FSU”)
• Dimensions:
– Length: 144 m
– Breadth: 32 m
– Draught: 5.4 m
• Black & Veatch PRICO® technology
• EXMAR’s proven LNG STS transfer
technology
Caribbean FLNG project
Private & Confidential
10
Caribbean FLNG Progress of the construction at Wison Offshore & Marine
Private & Confidential
11
EXMAR’s Caribbean FLNG
16/02/2015 Private & Confidential
12
EXMAR’s Caribbean FLNG
16/02/2015 Private & Confidential
13
EXMAR’s Caribbean FLNG
16/02/2015 Private & Confidential
LNG as a fuel: commercial perspective
15
EXMAR & LNG bunkering
Private & Confidential
Active in LNG shipping since 1978
Developed the world’s first LNG Regasification Units - 2005
LNG Ship-to-Ship Transfer system – 2006 Today EXMAR transferred +80 million m³ of LNG
Delivery of the world’s first Floating LNG Liquefaction Unit – 2015
Ship owner of +45 gas carriers operating around the world
Strategic partnerships for the development of LNG bunkering
Technical & Operational: no showstoppers
Environmental and economic drivers
16
0
5
10
15
20
25
30
35
nov/08 dec/13
[$/m
mb
tu]
Energy Prices: Bunkerfuels
380cst bunker prices, Rotterdam MGO bunker prices, Rotterdam 380cst Low Sulphur Fuel Oil, Rotterdam
Driver: Rising Fuel Costs
16/02/2015 Private & Confidential
2010 2011 2013 2014 2009 2012 2015
X 3,5
X 2,5
17
Energy pricing overview Current HFO pricing: 7,5 $/mmbtu
Private & Confidential
0
5
10
15
20
25
30
35
1/01/2010 5/01/2015
[$/m
mb
tu]
Energy Prices: Bunkerfuels and LNG
NE Asia LNG US Henry Hub UK NBP
380cst bunker prices, Rotterdam MGO bunker prices, Rotterdam 380cst Low Sulphur Fuel Oil, Rotterdam
2010 2011 2012 2013 2014 2015
Business case depends on demand
Drop in fuel prices
Fukushima
Re-exports to Asia
HH = gas
