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CNOOC LNG business update
CNOOC Gas & Power Group
Sept, 2017
8.30%
9.10%
10% 10.10%
11.30%
12.70%
14.20%
9.60% 9.20%
10.40%
9.30%
7.70% 7.70% 7.40%
6.90% 6.70% 6.90%
0%
2%
4%
6%
8%
10%
12%
14%
16%
0
10
20
30
40
50
60
70
80
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017H1
GDP y-o-y Growth
Chinese Economy Entering into New Normal
Growth (y-o-y) Trillion RMB
Source : National Bureau of Statistics of China
Gas Consumption Growth Makes Sharp Rebound
Source : National Bureau of Statistics of China、National Development and Reform Commission
Bcm Growth (y-o-y)
14.88%
20.05%
15.62% 15.27%
10.12%
19.86%
21.65%
12.08%
16.57%
9.59%
3.37%
6.60%
11.70%
0%
5%
10%
15%
20%
25%
0
50
100
150
200
250
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017H1
Gas Consumption Growth
LNG Imports Growth Especially Robust
Source : CNOOC
0
5
10
15
20
25
30
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017H1
CNOOC China
More than compensated lackluster imports growth in the previous two years.
Million tons
Aggregator Model
Point to point sale
Supplier A Supplier B Supplier C
…
CNOOC
GPTM
Downstream
Buyers
Dapeng Terminal Downstream Buyers
FujianTerminal Downstream Buyers
North West Shelf LNG
Tangguh LNG
Bintulu LNG Shanghai Terminal Downstream Buyers
CNOOC’s LNG Business Model
LNG Trucking
LNG Truck Loading Statistics
January 2017
Average: 307 trucks/day
June 2017
Average: 565 trucks/day
Area 21 Jan, 2017
21 July, 2017
Yuedong LNG
0 76 trucks
Zhejiang LNG
87 trucks 221 trucks
Tianjin LNG
60 trucks 279 trucks
LNG Trucking
LNG Terminal Additions
Yuedong, Guangdong Capacity: 2.0 mtpa. Startup: 2017
Shenzhen, Guangdong Capacity: 3.0 mtpa. Startup: 2017
The total capacity of CNOOC’s LNG receiving
terminal will be 30.8 mtpa at the end of
2017.
CNOOC CNPC SINOPEC Guanghui
Qidong, Jiangsu Capacity: 0.6 mtpa. Startup: 2017
Qidong LNG began commercial operation in June, 2017. It is the first LNG-import terminal wholly owned by private company Guanghui Energy in China.
Yuedong LNG began commercial operation in June, and Shenzhen LNG will come online later this year.
THANK YOU!
Independent Players
The companies are also building and planning their own receiving and storage facilities so they can have direct control over their future purchase prices and volumes.
Project Capacity
(mmtpa) Shareholder Status
Estimated
Start-up
Jovo LNG 1.5 JOVO Operational
Qidong LNG 0.5 Guanghui Operational 2017
Zhoushan LNG 3.0 ENN Under-
Construction 2018
Total 5.0
