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1
LNG markets & shipping Current status & prospects
presentation at INTERTANKO’s Hellenic Mediterranean Panel meeting
24 September 2015
2
LNG MARKETS
LNG CARRIERS
SPECIAL TOPICS / CONCLUSIONS / DISCUSSION
33
Global energy demand by fuel type(background graph: ExxonMobil, 2015)
2040level
2010level
DEMAND
44
Global energy demand by fuel type(background graph: ExxonMobil, 2015)
Natural gas is the FASTEST GROWING major fuel source (+1.6% per yearfrom 2010 to 2040)
As a result, natural gas becomes 2nd MOST IMPORTANT energy source past above COAL(as opposed in 2010)
THE IMPORTANCE OF NATURAL GAS
2040level
2010level
DEMAND
5
trade by pipeline664 bcm
20%
LNG trade333 bcm
10%
Consumed locally
2396 bcm70%
LNG trade (data: BP Energy Review, 2015)
The LNG trade corresponds to:Ø almost 1/3 of international gas trade Ø 10% of global gas consumption
Global natural gas consumption 3 393 bcm
6
Liquefaction capacity (mtpa)
289
Regasification capacity (mtpa)
751LNG trade (mtpa)
250
LNG: Export - Import capacity
EXPORTING SIDE: A FEW PLAYERS
Ø 19 countries
Ø 60 exporting terminals
IMPORTING SIDE: AN IMPORTANT REGASIFICATION CAPACITY
Ø 30 countries
Ø 110 regas. terminals
All produced LNG is absorbed via TRADE
77
LNG TRADE current picture: 250 Mt exportedand major routes
11
Non-OECD Asia: 53Australia: 24
15
4
4
20
13
1004
Volumes in MT
19
38
77
8
0
50
100
150
200
250
300
350
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
mtpa
8
LIQUEF. CAPACITY EVOLUTION 2005-2015
74
35
46
102
100
87Atlantic Basin: ~2 times up
Middle East: ~3 times up
Pacific Basin: ~1.4 times up
9
LIQUEFACTION CAPACITY / IMPORTS BY COUNTRY:
90
10
20
30
40
50
60
70
80
90
2010 2011 2012 2013 2014 2015
Miil
ion
MT
/ Yea
r
LNG IMPORT BY COUNTRY 2010 - 2015
Japan South Korea SpainUnited Kingdom Taiwan FranceChina India USAItaly Brazil Argentina
0
10
20
30
40
50
60
70
80
2010 2011 2012 2013 2014 2015
Milli
on M
T / Ye
ar
LIQUEFACTION CAPACITY EVOLUTION BY COUNTRY 2010 - 2015
Qatar Indonesia MalaysiaNigeria Algeria AustraliaTrinidad Egypt OmanRussia Brunei Abu DhabiYemen
NEW IMPORTING COUNTRIES IN 2015:Ø EGYPTØ JORDANØ PAKISTANØ URUGUAYØ UAEØ POLANDØ PHILIPPINESØ INDONESIA
NEW CAPACITY IN 2015:Ø AUSTRALIAØ INDONESIA
Australia QCLNG T1Australia QCLNG T2Australia GLNG T1Indonesia Donggi-Senoro LNG
10
-
50
100
150
200
250
300
350
400
450
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
mtp
a
Africa
N.America
S.America
Middle East
Europe
Asia Pacific
Gas demand via LNG imports by regionstill growing
Estimations give an ~5% global annual growth for the period 2015-2025
present time
Biggest markets:Ø JAPANØ S.KOREA
Highest demand-growth countries:Ø CHINAØ INDIA
LNG demand, while remains strong in EUROPE, is driven by ASIA
1111
LNG TRADE : Regional EXPORT-IMPORT volumespotential growth 2015 - 2025
20
CHINA
60
15
INDIA30
35
EUROPE
70
SE ASIA
40
S.AMERICA
10
15 30
x2
x2
x2
x3
x4
USA
50
AUSTRALIA
75
25
CANADA10
RUSSIA2512
x2
x3
NEW
NEW
IMPORTS / EXPORTSin mtpa
70
20252015
Emerging long-distance routes:Ø N.America to
Pacific & AtlanticØ Yamal to
East & West
balanced by shorter distance ones Ø Australia & E.Afr.
to Asia
via Panama
100?
12
0
50
100
150
200
250
300
350
400
450
50020
00
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Axi
s Ti
tle
Tanzania
Mozambique
Canada
United States
Colombia
Papua New Guinea
Angola
Peru
Russia
Yemen
Norway
Equatorial Guinea
Egypt
Australia
Trinidad
United Arab Emirates
Nigeria
Indonesia
Malaysia
Brunei
Qatar
Algeria
Oman
Libya
mtpa
LIQUEF. CAPACITY PROSPECTS TO 2025
present time
USA
AUSTRALIA
QATAR
With QATAR remaining an important supplier, AUSTRALIA’s share significantly rises, and USA is to add extra significant capacity
13
LIQUEFACTION PROJECTS- FID STATUS -
Most projects based in USA
Project Country No of Trains
unit capacity
Total Capacity (mmtpa)
FID
Freeport USA 2 5 10 Nov-14
Cove Point USA 1 5.25 5.25 Oct-14
Cameron USA 3 4.5 13.5 Aug-14Petronas FLNG 2 Malaysia 1 1.5 1.5 Jan-14
TOTAL FID 2014 30.25 MT LNG
Sabine Pass Train 5 USA 1 4.5 4.5 Jun-15
Corpus Christi USA 2 4.5 9.00 May-15
Freeport Train 3 USA 1 5.0 5.0 Apr-15Elba Island USA 1 2.5 2.5 expected 2015
Pacific Northwest LNG Canada 3 4 12.00 expected 2015
TOTAL FID 2015 (expected) 33.00 MT LNG
Sabine Pass Train 6 USA 1 4.5 4.50 expected 2016
Corpus Christi Train3 USA 1 4.5 4.50 expected 2016
Golden Pass Export USA 4 4 16.00 expected 2016
Jordan Cove Export USA 2 3 6.00 expected 2016
Mozambique Area 1 (Anadarko) Mozambique 2 5 10.00 expected 2016
Mozambique Area 4 (ENI) Mozambique 2 5 10.00 expected 2016
Magnolia LNG USA 2 4 8.00 expected 2016
Cameroon LNG Cameroon 1 2.4 2.40 expected 2016
Tangguh Phase 2 Indonesia 1 3.8 3.80 expected 2016
Browse LNG Australia 3 3.5 10.50 expected 2016
TOTAL FID 2016 75.70 MT LNG
2014
2015
2016
In the pipeline:CANADA,AFRICA,ASIA,AUSTRALIA
FID for capacity of >30 mtpa
per 2015 & 2016
could more than double in 2016
FID decisions continue
unaffected by oil price
environment
14
Spot and short-term LNG Trade & Share of Total LNG trade
(source: GIIGNL, 2015)
14
15
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
110,000
120,000Ja
n
Feb
Mar Ap
r
May Jun Jul
Aug
Sep
Oct
Nov De
c
Jan
Feb
Mar Ap
r
May Jun Jul
Aug
Sep
Oct
Nov De
c
Jan
Feb
Mar Ap
r
May
June
2013 2014 2015
USD
/day
LNG Charter rates
Long-term (>5 years)Spot/short term
LNG Charter rates
In 2014, short-term rates were pushed down
in face of many vessel deliveriesand marginal new liquefaction
capacity
Short-term rates aligned down to the
$85k/day level by end of 2013
A steep decline experienced
in 2015 so far for same reasons as last year against modest demand
Longer-term rates have hardly been
affected
16
JKM 8 $/mmBTU
NBP / TTF6.5 $/mmBTU
HH2.7 $/mmBTU
16
Gas Markets & Spot Prices(Sep.2015)
20151990 1995 2000
converging
17
JKM 8 $/mmBTU
NBP / TTF6.5 $/mmBTU
HH2.7 $/mmBTU
17
Gas Markets & Spot Prices+ UNIT FREIGHT COSTS for typical routes
US/KOREA: 2.5 $/mmBTU
US/INDIA: 2.3 $/mmBTU
QATAR/SPAIN: 1.5 $/mmBTU
QATAR/JAPAN: 1.3 $/mmBTU
AUSTRALIA/JAPAN: 0.7 $/mmBTU
18
Worldwide LNG Carriers Movements(September 2015 snapshot)
Source: AXS Tanker
19
Idle vessels worldwide (September 2015 snapshot)
S. America 4 ships
SE Asia
16 ships
NE Asia3 ships
MEG9 ships
West Med6 ships
40 idle vessels (10% of global fleet)basis 2 weeks
Source: AXS Tanker
20
YEAR OF BUILT
28% of vessels aged > 25yrs 10% of vessels
aged 15-25yo
8% of vessels aged <15yo
Idle vessels worldwide (September 2015 snapshot)
40 idle vessels (10% of global fleet)basis 2 weeks
21
LNG MARKETS
LNG CARRIERS
SPECIAL TOPICS / CONCLUSIONS / DISCUSSION
2222
Ø 412 sea-going LNG carriers
Ø 147 on order to be delivered by 2020 (39% of existing fleet in capacity terms)
THE LNG FLEET
(>15,000 cu.m.)
23
290 m.
12 m.
47 m.
Modern LNG carrier typical sizing
~170,000 cu.m. (80,000+ dwt t)
(resembles to an ‘oil tanker’ with small Aframax tonnage,Suezmax LOA-beam,
MR draft)
24
The ‘standard’ size of LNG carriers has shifted upwardsfrom below 145k cum to larger vessels (see orders below)
17
168
118
64
3114
412
417
126147
0
50
100
150
200
250
300
350
400
450
15 - 100 kcu.m.
100 - 147 kcu.m.
147 - 160 kcu.m.
160 - 182 kcu.m.
Q-flex(205-217 k
cu.m.)
Q-max(257-261 k
cu.m.)
TOTAL
ship
s
LNG fleet by vessel size (>15 000 cu.m.)
Existing
On order
25
The ‘standard’ size of LNG carriers has shifted upwardsespecially to the region of 170-182k cum
13 13 15
48
1
2
1313
3
3
3
1
7
10
28
32 47
0
5
10
15
20
25
30
35
40
45
50
2013 2014 2015 2016 2017 2018-2020
LNG carrier deliveries above 147k cum by size range
147-160k cum 160-170k cum 170-182k cum
no of vessels
21% of deliveries
26% of deliveries
80% of deliveries
74% of deliveries
6% of deliveries
92% of deliveries
26
70,000
80,000
90,000
100,000
110,000
120,000
130,000
140,000
150,000
160,000
0
10
20
30
40
50
60
70
80
90
Avg. Size(cu.m.)mil. cu.m. LNG Fleet (>15,000 cu.m.) evolution since 1990
73vessels
93vessels
130vessels
192vessels
355vessels
431vessels
*
LNG fleet evolutionAverage size: mid-2000s: 120-130k cum à above 150k cum post 2014
2007-2010: deliveries of Qflex-Qmax boosted total fleet capacity & average size
*any future removals or further additions not considered
Global fleetcu.m. capacity CAGR2015-2020: 6%*2010-2015: 5%2005-2010: 17%2000-2005: 10%1995-2000: 8%1990-1995: 6%
27
110
146
248
78
35
6 2 420
0
50
100
150
200
250
300
DFDE ME-GI XDF (GI/lowpressure)
Slow SpeedDiesel
STaGE Steam
ship
sLNG fleet by propulsion system
(above 30 000 cu.m.)
Existing
On order
Delivery_year Parent Cum Shipyard Containment
2017 LIVANOS GROUP 174,000 SAMSUNG GTT MK III
2017 LIVANOS GROUP 174,000 SAMSUNG GTT MK III
2017 LIVANOS GROUP 174,000 HYUNDAI ULSAN GTT MK III
2017 LIVANOS GROUP 174,000 HYUNDAI ULSAN GTT MK III
2017 SK SHIPPING 180,000 SAMSUNG GTT MK III
2017 SK SHIPPING 180,000 SAMSUNG GTT MK III
Delivery_year Parent Cum Shipyard Containment
2018 MOL 177,000 MITSUBISHI NAGASAKI MOSS
2018 MOL 180,000 IMABARI SAIJO MOSS
2019 MOL 177,000 MITSUBISHI NAGASAKI MOSS
2018 NYK 180,000 IMABARI SAIJO MOSS
Propulsion systems
28
301
102
2 0
111
275 2
0
50
100
150
200
250
300
350
Membrane-type Moss-type SPB-type KC-1
ship
sLNG fleet by containment system design
(above 30 000 cu.m.)
Existing On order
Status Delivery_year Parent Cum Shipyard Containment
DELIVERED 1993 TEEKAY CORP 87,305 IHI CHITA SPB
DELIVERED 1993 TEEKAY CORP 88,100 IHI CHITA SPB
ON ORDER 2017 UNKNOWN 45,000 XIAMEN LNT A-BOX
ON ORDER 2017 MOL 164,700 JMU TSU SPB
ON ORDER 2017 NYK 164,700 JMU TSU SPB
ON ORDER 2017 NYK 164,700 JMU TSU SPB
ON ORDER 2018 MOL 164,700 JMU TSU SPB
Status Delivery_year Parent Cum Shipyard Containment
ON ORDER 2017 SK SHIPPING 174,000 SAMSUNG KC-1
ON ORDER 2017 SK SHIPPING 174,000 SAMSUNG KC-1
Containment systems
29
LNG orders evolution
0
10
20
30
40
50
60
70
80
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
ship
s 1st wave of orders
2nd wave of orders
Post-Fukushima batch of new orders (many speculative) shot up in 2011 (49) before 2014’s high (68)29
Just 1 order in 2009 by China
LNG at Hudong-Zhonghua
In the first wave (2004-2007) before the financial crisis,
almost 170 orders were placed, boosted by orders from Qatar & Japan
30
19
27
36
49
36
26
10
3
16
33
20
1835
43
36
14
10
5
10
15
20
25
30
35
40
45
50
55
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
ship
s
LNG fleet deliveries
To be delivered
Already delivered
Only 3 deliveries in 2012 (of which one was a small - 15,600 cu.m. - carrier)
A new wave of deliveries; its peak only recently slipped from 2016 to 2017
Deliveries evolution
31
Since 2007 we count in total 24 demolitions and
12 conversions
Removals
0
1
2
3
4
5
6
7
8
919
90
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
YTD
ships Removals (Deletions & Conversions) from the LNG fleet (>15,000 cu.m.)
per Year since 1990
32
130,000
140,000
150,000
160,000
170,000
180,000
190,000
0
50
100
150
200
250
300
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Newbuilding Price Evolution since 1990
Newbuilding price in $m Newbuilding price in €m Average capacity of ordered ships (RH axis)
US$m-€m (yearly averages)
$205m
€179m
MISC contracts with Ch. de l'Atlantique
S. Korean yards 2003 "price war"
Abu Dhabi contracts with Aker (impact of the Finnishdevaluation on the price)
cu.m.
ordered vessels withcapacity 100 - 200k cu.m.
only considered
(corresponds to the singleLNGC ordered in 2009)
33
LNG orders per shipyard (& country)
KOREA 68%JAPAN 20%CHINA 12%GERMANY 1%
34
LNG orders per shipyard & delivery year
0 5 10 15 20 25 30 35 40 45 50 55
COSCO DALIANNEPTUN
STX O&SB JINHAENINGBO XINLE
XIAMENDALIAN CSIC No. 2
JMU TSUIMABARI SAIJO
HYUNDAI SAMHOKAWASAKI SAKAIDE
MITSUBISHI NAGASAKIHUDONG-ZHONGHUA
HYUNDAI ULSANSAMSUNGDAEWOO
ships
LNG orders per shipyard and delivery year
2015
2016
2017
2018
2019
2020
35
LNG MARKETS
LNG CARRIERS
SPECIAL TOPICS / CONCLUSIONS / DISCUSSION
3636
Ø Development of a liquid & transparent spot market
Ø LNG commodity pricing
Ø offshore solutions: FLNG - FSRU
Ø Small-scale LNG
Ø LNG as bunker fuel
Other LNG chapters & market drivers
37
DISCLAIMER:
THE INFORMATION IN THIS REPORT IS GIVEN IN GOOD FAITH BASED ON THE MARKET SITUATION AT THE TIME OF PREPARATION AND AS SUCH IS SPECIFIC TO THAT SITUATION ONLY. WHILE ALL REASONABLE
CARE HAS BEEN TAKEN IN THE PREPARATION AND COLLECTION OF INFORMATION IN THIS REPORT BRS GROUP DOES NOT ACCEPT ANY LIABILITY WHATSOEVER FOR ANY ERRORS OF FACT OR OMISSION OR
OPINION, OR FOR ANY LOSS INCURRED BY ANY PERSON WHO MAY SEEK TO RELY ON THIS INFORMATION.
THIS REPORT IS INTENDED SOLELY FOR THE RECIPIENT AND MUST NOT BE REPRODUCED OR PASSED OR SHARED WITH ANY THIRD PARTIES WITHOUT THE WRITTEN PERMISSION OF BRS GROUP.
38
39
LNG offshore solutions: FLNG - FSRU
EXPORTING SIDE: FLNG(Floating LNG production)
Ø Exploitation of unconventional offshore gas reserves§ Cost advantages§ Implementation / permission
advantages
Ø On order§ 3 with FID + conversions § many at planning phase
IMPORTING SIDE: FSRU(Floating Storage andRegasification Units)
Ø Expands LNG import potential around the globe§ Fast/flexible solution§ Cost-size advantages
Ø Existing / on order§ >20 existing§ >10 on order / planned
40
LNG offshore solutions: FLNG
FLOATING LIQUEFACTION PROJECTS
Vessel Partners Shipyard StatusAnnounced
Delivery Type Project or CharterCapacity (MMtpa)
Reported Price (M$)
Caribbean FLNG Exmar Wison (China) Under Construction 2015Barge-Based
FLNG Caribbean FLNG 0.5 -PFLNG 1 PETRONAS DSME Under Construction 2016 FPSO Kanowit LNG 1.2 771
Prelude LNG Shell, CPC, INPEX,
KOGAS SHI Under Construction 2017 FPSO Prelude LNG 3.6 10,000
PFLNG 2 PETRONAS SHI Under Construction 2018 FPSO Rotan LNG 1.5 -
Vessel Partners Shipyard StatusAnnounced
Delivery Type Project or CharterCapacity (MMtpa)
Reported Price (M$)
Hilli Golar LNG Keppel Under Conversion 2017FLNG
Conversion Cameroon FLNG 1.2 735
Gimi Golar LNG Keppel Under Conversion 2019FLNG
Conversion Equatorial Guinea 2.2 705
Gandria Golar LNG Keppel Under Conversion 2019FLNG
Conversion Equatorial Guinea 2 684
Newbuild Floating Liquefaction Vessels On Order
Conventional Carrier Conversions
41
LNG carriers to be ordered in the coming years
PROJECTS DELIVERYYAMAL 15 ARCTIC LNG CARRIERS end 2017/Ist half 2018
15 170kcbm + end 2017/Ist half 2018GAIL 12 170kcbm + end 2017/Ist half 2018CAMERON LNG 20 170kcbm + end 2018FREEPORT LNG KOGAS 6 170kcbm + Ist half 2018BP 8 170kcbm + end 2018VLADIVOSTOK LNGGazprom 13 170 kcbm+ 2018HYPROC 3 170kcbm+ end 2017/Ist half 2018TOTAL 92
42
LNG carriers - size optimization exampleSummary
43
name status capacity (MT/y) starting dateSabine Pass LNG T1 Under construction 4.5 2016Sabine Pass LNG T2 Under construction 4.5 2016Sabine Pass LNG T3 Under construction 4.5 2017Sabine Pass LNG T4 Under construction 4.5 2017Elba Island LNG T1-6 FEED 1.5 2018Cameron LNG T1 Under construction 4.0 2018Cove Point LNG Under construction 5.3 2019Freeport LNG T1 Under construction 4.4 2019Cameron LNG T2 Under construction 4.0 2019Elba Island LNG T7-8 FEED 1.0 2019Freeport LNG T2 Under construction 4.4 2019Cameron LNG T3 Under construction 4.0 2019Corpus Christi LNG T1 Under construction 4.5 2019Freeport LNG T3 Under construction 4.4 2020Corpus Christi LNG T2 Under construction 4.5 2020Sabine Pass LNG T5 FEED Completed 4.5 2021Cameron LNG T4 Proposed 4.0 2022Lake Charles LNG T1 FEED Completed 5.0 2023Lake Charles LNG T2 FEED Completed 5.0 2023Jordan Cove T1 FEED Completed 1.5 2027Jordan Cove T2 FEED Completed 1.5 2027Jordan Cove T3 FEED Completed 1.5 2028Jordan Cove T4 FEED Completed 1.5 2028Alaska LNG T1 FEED 6.6 2033Alaska LNG T2 FEED 6.6 2033Alaska LNG T3 FEED 6.6 2034
TOTAL 104
USA projects:
44
CANADA projects:
name status capacity (MT/y) starting datePacific Northwest LNG T1 FEED Completed 6.0 ?Pacific Northwest LNG T2 FEED Completed 6.0 ?LNG Canada T1 In FEED 6.0 ?LNG Canada T2 In FEED 6.0 ?LNG Canada T3 Pre-FEED 6.0 ?LNG Canada T4 Pre-FEED 6.0 ?Douglas Channel FLNG 1 Proposed 0.6 ?WCC LNG T1 Proposed 5.0 ?WCC LNG T2 Proposed 5.0 ?
TOTAL 47
45
Australian projects:
name status capacity (MT/y) starting dateNorth West Shelf T1 Existing 2.5 1989North West Shelf T2 Existing 2.5 1989North West Shelf T3 Existing 2.5 1992North West Shelf T4 Existing 4.4 2004Darwin T1 Existing 3.5 2006North West Shelf T5 Existing 4.4 2008Darwin T1 Debottleneck Existing 0.2 2010Pluto LNG T1 Existing 4.3 2012QCLNG T1 Existing 4.25 2015QCLNG T2 Under construction 4.25 2015GLNG T1 Under construction 3.9 2015Australia Pacific LNG T1 Under construction 4.5 2016Gorgon LNG T1 Under construction 5.2 2016GLNG T2 Under construction 3.9 2016Australia Pacific LNG T2 Under construction 4.5 2016Gorgon LNG T2 Under construction 5.2 2016Gorgon LNG T3 Under construction 5.2 2017Ichthys LNG T1 Under construction 4.2 2017Wheatstone LNG T1 Under construction 4.45 2017Prelude FLNG Under construction 3.6 2017Ichthys LNG T2 Under construction 4.2 2017Wheatstone LNG T2 Under construction 4.45 2017Browse FLNG 1 Proposed 3.6 ?Browse FLNG 2 Proposed 3.6 ?Browse FLNG 3 Proposed 3.6 ?Gorgon LNG T4 Proposed 5.2 ?Gorgon LNG T5 Proposed 5.2 ?Scarborough FLNG Proposed 6.5 ?Wheatstone LNG T3 Proposed 4.45 ?Wheatstone LNG T4 Proposed 4.45 ?Wheatstone LNG T5 Proposed 4.45 ?
TOTAL 127
4646
CHINA: Regasification projects
Capacity Holder Project PlantStart-up
Date
Terminal Capacity
(mtpa)
ExistingCNOOC Fujian Fujian 2008 5,2CNOOC Guangdong Dapeng Guangdong LNG 2006 6,7CNOOC Shanghai Shanghai LNG 2009 3PetroChina (CNPC) Dalian Dalian 2011 3PetroChina (CNPC) Rudong Rudong LNG 2011 3,5CNOOC Zhejiang Ningbo Zhejiang Ningbo LNG 2012 3CNOOC Zhuhai Zhuhai 2013 3,5CNOOC Tianjin Floating LNG Tianjin Floating LNG 2013 2,2PetroChina (CNPC) Caofeidian Tangshan 2013 3,5
TOTAL 33,6
Under ConstructionSinopec Qingdao Qingdao LNG 2014 3CNOOC Haikou LNG Haikou LNG 2014 3CNOOC Yuedong Yuedong LNG 2014 2PetroChina (CNPC) Shenzhen Shenzhen LNG 2015 3Sinopec Beihai Beihai LNG 2015 3
TOTAL 14
4747
YAMAL LNG 16.5 MtpaPechora LNG 5 Mtpa
Shtokman 15 Mtpa
US 50-100 Mtpa
Northern Atlantic
Canada>100 Mtpa Far East LNG
5 Mtpa
Alaska 20 Mtpa
source: Total, BRS
48
Australian projects: order of 100 Mt by 2020 (FID / PLANS / CANCELLED-POSTPONED )
48
Wheatstone LNG 9 Mt
Scarborough 6.25 Mt
Ichthys 8.4 Mt
GreaterSunrise3.5 Mt (FLNG)Prelude 3.6 Mt
(FLNG)
Browse LNG 10 Mt
Bonaparte LNG2 Mt (FLNG)
Australia Pacific LNG 7.5 Mt
Queensland Curtis 8.5 Mt
Arrow LNG8 Mt
Gladstone LNG7.8 Mt
Gorgon 20 Mt
Fisherman’s Landing 1.5 Mt
Newcastle LNG Eastern Gas 1 Mt
Pluto 4.3 Mt
source: Total, LNG Journal, BRS
4949
Cameroon LNG 3 Mt
Nigeria ,NLNG T7, 8.5 Mt
Nigeria ,Brass, 10 Mt
Eq GuineaEG LNG T2 4.4 Mt
AFRICA
Real potentialMozambique / Tanzania
order of 20 Mt / year
source: Total, BRS
5050
Persian LNG: 16 MtPars LNG: 10 MtGolshan / F: 10 MtNorth LNG: 20 Mt
Iran LNG: 11 Mt
IRAN: 10-20 Mtpa to come?
TOTAL: 60-70 Mt
51
52
19
14
9
53
1 1
52
8
16
6
1 2 1
34
0
5
10
15
20
25
30
35
40
45
50
55
GasLog Maran Gas Dynagas TMS CardiffGas
Thenamaris Tsakos EnergyNavigation
CHANDRISGROUP
Alpha Tankers TOTAL
No
of sh
ips
Greek interests' LNG fleet
DELIVERED
ON ORDER
5353
Liquefaction projects costs
0
2
4
6
8
10
12
14
$ per MMBtu
0
2
4
6
8
10
12
14Shipping
Liquefaction
Upstream
0.10 oilslope0.12 oilslope
Range for US GC Brownfield
To United Kingdom To Turkey
Source: CERA September 2013
n On top of flexible volumes and volumes from the US and Mozambique, additional volumes from Africa (West and East), the Mediterranean basin or Arctic areas are expected after 2025.
n Room for pipeline competition in Europe from 2019
