Analysis of Trinidad and Tobago's Natural Gas Supply-Demand Balance

Size: px
Start display at page:

Download "Analysis of Trinidad and Tobago's Natural Gas Supply-Demand Balance"

Transcription

1 Analysis of Trinidad and Tobago's Natural Gas Supply-Demand Balance Godfrey Ransome (SPE) and Haydn I. Furlonge The National Gas Company of Trinidad and Tobago Ltd. This paper was prepared for presentation at the GSTT 2000 SPE Conference held in Portof-Spain, Trinidad July It was selected for presentation by a Technical Committee following review of the information contained in an abstract submitted by the author(s). Contents of the paper, as presented, have not been reviewed by this Technical Committee and are subject to corrections by the author(s). The material, as presented, does not necessarily reflect any position of the Technical Committee, Geological Society of Trinidad and Tobago, Society of Petroleum Engineers, its officers, or members. Copies of papers should contain conspicuous acknowledgement of where and by whom the paper was presented. SUMMARY Given the anticipated development of the natural gas industry in Trinidad and Tobago, this paper addresses the supply-demand balance. A mathematical model was developed to determine the optimal reserves addition profile which meets all projected demand scenarios. It was shown that there is a need to boost reserves by up to 39 tscf in a 20-year period to satisfy a high demand scenario and to maintain a minimum reserves to production ratio of 25 years. This substantial volume would undoubtedly pose a significant exploration challenge to the country. However, substantial exploration activity is taking place and the prospects are promising. The option of importing gas from Venezuela is also discussed in this paper. INTRODUCTION Natural gas, because of its environmental-friendly characteristics, abundance, and energy efficiency, is increasingly seen as the fuel and raw material for the future in many energy sectors. Current local demand is around 1375 MMscfd, with applications in petrochemicals, LNG and steel production, power generation, and in the transportation and commercial sectors. Even greater demand is expected with expansions in these and other areas, e.g. aluminum and gas to liquids processing. Current proven reserves stand at approximately 21 tscf, giving an reserves to production (RTP) ratio of about 40 years. Given this volume of reserves and the growing demand, strategies must be devised to ensure that a feasible supply-demand balance exists during the medium to long term. In this paper, the various possibilities for expansion of the local natural gas industry are outlined, from which various demand scenarios are derived. The reserves required to meet these demand scenarios are determined. To address the anticipated tightness in supply, suitable optimization techniques are applied to determine the reserves addition profile which will be required to meet the demand as well as to be optimal with respect to an economic criterion. The modeling approach ensures that the solution obtained is highly flexible so as to meet various demand scenario requirements while maintaining optimality. Consideration is also given to gas transmission capacity. OPTIMIZATION METHODOLOGY In this section, the methodology used for determining the optimal reserves addition profile is outlined. The time horizon and mathematical model are described. Planning Period. Long-term contracts are usually signed for a period of 20 years. In this model, however, growth in natural gas demand and supply projections are made only for the first 6 years ( ) due to the increasing degree of uncertainty in making long-term projections. Beyond this period, supply and demand levels are assumed to remain constant. Mathematical Model. The supply-demand model may be represented mathematically by a set of equality and inequality constraints. Firstly, in order to ensure that demand is met in each year for all scenarios, the maximum demand (D max ) of all scenarios (D j ) is determined: D max = MAX (D j )... (1) Thus, the supply of natural gas (S t ) must be above this maximum demand (D max t) in each year t: S t D max t... (2)

2 GODFREY RANSOME and HAYDN I. FURLONGE 2 The reserves in a particular year (R t ) is given by the quantity in the previous year (R t-1 ) plus the reserves addition (R new t) minus the amount consumed (365 S t ): R t = R t-1 + R t new - (365 S t )... (3) The reserves to production ratio (r t ) is given by: r t = R t /(365 S t )... (4) In order to ensure a long-term supply of gas to existing and new consumers, the RTP ratio must be above a lower bound (r t L ) which is taken to be 20 years for all years: r t r t L... (5) To determine the optimal reserves addition profile through optimization, the objective function is the cost of adding reserves and minimizing the total cost of exploration: Minimize ( R t new )... (6) where is the unit capital cost of exploration (US$m/tscf of gas). Based on data collected locally, is taken as US$m 250/tscf. The optimizer determines the amount of new reserves to be added in each year. Since it is unrealistic for this to be unbounded, the following constraint is applied: R new U t R t... (7) where R U t is taken to be 5 tscf. The modeling and optimization software GAMS (General Algebraic Modeling System) was used. SUPPLY-DEMAND BALANCE Demand Scenarios. Over the past seven years, local natural gas consumption has almost tripled (from 504 MMscfd to 1375 MMscfd). Within this period, three methanol plants, three ammonia plants and one LNG plant have been constructed. This high growth rate in demand is expected to continue at least in the short to medium term. Confirmed and potential projects include petrochemicals, liquefied natural gas, metals, gas to liquids, power, and other new technologies such as fuel cells and methanol to olefins. In this study, three demand scenarios have been defined with varying rates of growth in demand. In each case, the projected demand over the next six years is estimated. 1. Low Demand Growth Scenario - projects which have already been approved or are closest to being finalized, are included (see Table 1). 2. Medium Demand Growth Scenario - projects in the low demand growth scenario as well as those which are fairly well advanced are included (see Table 2). 3. High Demand Growth Scenario - projects in the medium demand growth scenario as well as those projects which are in the initial stages of consideration are included (see Table 3). Figure 1 shows a plot of the projected local natural gas consumption over the years 1999 to 2006 for these three demand scenarios. It should be noted that from 2006 to 2019, natural gas consumption is assumed to remain constant since there is a great deal of uncertainty in making projections during this distant period. Nonetheless, this assumption is considered to be reasonable for the purposes of this study, since ensuring a long-term supply of natural gas for short to medium term projects (which have a greater degree of certainty) is a more pressing issue. Matching Supply to Demand Scenarios. Over the past ten years domestic gas supply, excluding LNG, has increased (at an average rate of about 11%/year) steadily, in response to increasing demand, from 445 MMscfd in 1990 to 900 MMscfd in With the coming on stream of the Atlantic LNG (ALNG) Train 1 in 1999, total gas supply jumped from 835 MMscfd in 1998 to 1365 MMscfd in When the two-train expansion of the LNG plant is in full operation in 2004, gas supply would be 2325 MMscfd (excluding new domestic expansion). From 1994 proven gas reserves have shown to be resilient and very responsive to demand. This responsiveness can be attributed largely to the over 70% success ratio in some exploratory efforts off the east coast in which over 13 tscf of proven reserves were discovered. The country s proven reserves have grown from 8.1 tscf in 1994 with an RTP ratio of 39 years to 21 tscf in 1999 with the RTP ratio remaining fairly unchanged.

3 GODFREY RANSOME and HAYDN I. FURLONGE 3 Three supply scenarios were identified for a 20-year planning period which match each of the three demand scenarios (see Figure 2): 1. Base - this scenario supports the low demand growth case which consumes 17.8 tscf over the 20 years. Assuming no reserve additions, proven reserves of 21 tscf will fall to 3.2 tscf and the RTP ratio will decline from 42 years to 3 years. 2. Most Likely - this supply profile matches the medium demand growth projection which requires 20.2 tscf. The current reserves is just able to support this case. 3. Optimistic - this profile responds to a high demand scenario which consumes 23.8 tscf over the 20 years, with a deficit of 2.8 tscf. However, if probable (4.8 tscf) and possible (3.1 tscf) reserves are realized, high gas demand will be met. It should be noted that the scenarios outlined above represents minimum proven reserves that would just satisfy each supply scenario without considering RTP ratios. Proven reserves must be increased considerably when RTP requirements are considered as is later discussed. Apart from continuous exploration efforts by the three main producers to cater for predicted demand, the State has sought to stimulate exploration by offering Production Sharing Contracts (PSC). Since 1996, thirteen offshore blocks have been awarded to eight operators. Exploration drilling thus far has indicated promising results both off the north and east coasts. Considering that supply from excessive exploration can outstrip demand resulting in idle investments, and that demand must be assured of available supply, then an optimal reserves profile that satisfies demand scenarios with minimum exploration expenditure would be beneficial. Optimal Reserves Addition Profile for Short-term Planning. Here, we are primarily concerned with ensuring security of gas supply for the short-term i.e The optimal reserves addition profile ensures that all projects built during this period have a 20 year supply of gas (cf. Eq. 5). In the high demand growth scenario, some 23.8 tscf of natural gas will be consumed over the 20 year period. The optimal reserves addition profile involves the addition of 12.2 tscf new reserves over the next 3 years at a cost of US$m Since there is a limit of 5 tscf set on the quantity of reserves that may be added each year, 5 tscf is added in each of the first two years and the remainder (2.2 tscf) in the third year. Under this scenario, the amount of reserves at the end of the period is 9.4 tscf. Unlike the other supply scenarios, the RTP ratio drops below 20 years only after the investment period (i.e. after 2006). Thus, all new consumers between 2000 to 2006 will be guaranteed of a 20 year supply. In the next section, long-term security of supply is discussed. RTP Requirements for Long-term Planning. Considering that significant volumes of gas (over 10 tscf) would be exported (via LNG) during the 20 year period, security of supply for the domestic gas industry could be threatened. Acquiring an additional 2.8 tscf required to meet the demand of the high growth scenario is by no means burdensome. However, the real problem is that a declining RTP ratio could adversely affect the growth of the downstream sector as depleting reserves would not provide the required supply cushion for current and future investors in longterm projects. Maintaining a minimum RTP ratio over the whole 20 year period would ensure long-term development is not hindered by supply availability. It should be noted that some countries (e.g those in the American and European continents) operate at relatively low RTP ratios. However, they are able to do so because of well-developed international pipeline networks which make long-term security of supply less of a concern. Trinidad and Tobago's situation is different in that the country is self-reliant on supply. Thus, maintaining a comfortably high RTP ratio is necessary. Table 4 shows the reserves requirements to maintain various minimum RTP ratios. To meet the requirements of the low, medium and high demand scenarios, additional reserves of between 11.3 tscf and 36.2 tscf would be required solely to maintain an RTP ratio between 15 years and 25 years.

4 GODFREY RANSOME and HAYDN I. FURLONGE 4 For the high demand case, a total of up to 39 tscf new proven reserves would be needed to satisfy demand and maintain an RTP ratio of 25 years. Reserve requirements in the long-term would be even greater if one considers projected growth in demand beyond This substantial volume would undoubtedly pose a significant exploration challenge to the country; although, recent discoveries are encouraging. The possibility of utilizing some of the significant reserves of nearby stranded Venezuelan gas may provide added comfort to the challenge, as discussed next. Option of Importing Gas from Venezuela. Venezuela has announced plans to invest up to US$ 10 billion over the next 10 years in developing its natural gas industry. The country with 147 tscf of proven gas reserves has significantly more than that of Trinidad and Tobago (21 tscf). Its current RTP ratio is about 65 years. Given the rate of development of Trinidad and Tobago's downstream industry and its established gas pipeline network, the exploitation of Venezuelan reserves is an opportunity worth considering, particularly in light of new Venezuelan Gaseous Hydrocarbon Organic Law. Despite this, some have expressed concerns [4] that the Venezuelan Government is still too ambiguous over its position on allowing foreign investment, and that faster implementation of its policies is required if uncertainty over the country's political stability is to be dissipated and investor confidence is to grow. Trinidad is strategically located, being in close proximity to extensive offshore gas fields. More specifically, the Plataforma Deltana, which has over 28 tscf of proven reserves, covers an extensive area that includes offshore eastern Venezuela and southeastern Trinidad. A recent discovery in Block 5(b) which adjoins the area also opens up a window for possible alliances between the two countries to explore the basin. Also, the Carupano basin, northwest of Trinidad, is another prospective area with considerable exploration potential. Abundant reserves of natural gas north of the Paria Peninsula, just five miles from the international boundary, is soon to be exploited by a consortium of Royal Dutch/Shell, Exxon-Mobil, Mitsubishi and PDVSA in a $US 2 billion LNG Venezuelan project. In essence, given the close proximity to Trinidad, and the country's established and expanding transmission network, these Venezuelan gas provinces represent sources that can significantly boost the country s natural gas supply. However, agreements with the Venezuelan Government would obviously have to be astutely negotiated to ensure a beneficial and long term supply to the country. GAS TRANSMISSION and DISTRIBUTION CONSIDERATIONS Apart from the security of gas reserves to meet local consumption, a key issue relates to available capacity in the gas transmission system. The current transmission network comprises of: a 24-inch/20-inch diameter, 400 MMscfd capacity offshore/onshore pipeline (built in 1978) originating from the Teak and Poui fields. a 30-inch, 600 MMscfd offshore/onshore line (built in 1982) running from the Cassia field. a 40-inch diameter, 1275 MMscfd sub-sea line and a 36-inch complement onshore line to Point Fortin (built in 1998) to cater for the Atlantic LNG project. Currently, 475 MMscfd is utilized by LNG Train I, with Trains II and III (both 475 MMscfd capacity) expected to come onstream by the end of 2002 and 2003 respectively. a 36-inch diameter onshore, 42 miles pipeline (built in 1999) was constructed from Beachfield to Point Lisas thereby increasing overall domestic line capacity (excluding LNG) to 1400 MMscfd. As far as the domestic gas market is concerned (i.e. assuming LNG pipeline capacity would be met by parties involved), the long-term natural gas supply for the low, medium and high demand scenarios are 1220 MMscfd, 1620 MMscfd and 2240 MMscfd respectively. Given that the total domestic capacity is currently 1400 MMscfd, only the needs of the low demand scenario are met. For the other scenarios, pipeline capacity expansions would be required, particularly for the high demand case (840 MMscfd). A concommitant increase in gas processing capacity, currently performed by Phoenix Park Gas Processors

5 GODFREY RANSOME and HAYDN I. FURLONGE 5 Ltd. (which has a capacity of 1400 MMscfd) would also be required. CONCLUSIONS 1. For security of supply over the long-term, newly proven reserve requirements could reach as high as 39 tscf for a 20-year period in order to satisfy high demand and to maintain an RTP ratio of 25 years. For the medium and low demand growth scenarios, 31.4 tscf and 17.8 tscf new reserves respectively would be required. 2. An optimal reserves addition profile for security of supply of short-term development shows the need to boost proven reserves by 12.2 tscf over the next six years to satisfy the high demand scenario. 3. Substantial new reserves, particularly in yet unexplored areas, will be required to satisfy the high demand scenario. An estimated capital cost of US$3 billion for exploration activities would be required. It may also be worthwhile forming alliances with Venezuela to source their stranded reserves considering the close proximity of their reservoirs and their new favorable gas laws. 4. Current domestic pipeline capacity of 1400 MMscfd (excluding gas for LNG production) needs to be expanded to match growing capacity for the medium (160 MMscfd) and high (840 MMscfd) demand growth scenarios. References [1] Gasco News (Corporate Journal of The National Gas Company of Trinidad and Tobago Ltd.), 11, Jan [2] "Venezuela Hatching Big Plans for Jump-Starting Natural Gas Sector", Oil and Gas Journal, 9 August [3] "Huge finds contribute to new dynamism in gas sector", Petroleum Economist, , [4] "Venezuelan government points to in-depth oil policy changes", Oil and Gas J., 98 (16), April

6 GODFREY RANSOME and HAYDN I. FURLONGE 6 Table 1 Projected Local Natural Gas Consumption - Low Demand Growth Scenario Year Existing/New Existing /New Gas Total Local Projects Consumption, MMscfd Consumption, MMscfd 2000 Existing Plants 900 ALNG I Existing Plants 975 ALNG I Existing Plants 1000 ALNG I 475 Petrochemicals Existing Plants 1000 Petrochemicals 220 ALNG I and II Existing Plants 1000 Petrochemicals 220 ALNG I, II and III Table 2 Projected Local Natural Gas Consumption - Medium Demand Growth Scenario Year Existing/New Existing /New Gas Total Local Projects Consumption, MMscfd Consumption, MMscfd 2000 Existing Plants 900 ALNG I Existing Plants 975 ALNG I Existing Plants 1000 ALNG I 475 Petrochemicals Existing Plants 1000 ALNG I and II 950 Petrochemicals 220 GTL Existing Plants 1000 ALNG I, II and III 1425 Petrochemicals 320 GTL 125 Metals

7 GODFREY RANSOME and HAYDN I. FURLONGE 7 Table 3 Projected Local Natural Gas Consumption - High Demand Growth Scenario Year Existing/New Existing /New Gas Total Local Projects Consumption, MMscfd Consumption, MMscfd 2000 Existing Plants 900 ALNG I Existing Plants 975 ALNG I Existing Plants 1000 ALNG I 475 Petrochemicals Existing Plants 1000 ALNG I and II 950 Petrochemicals 220 GTL Existing Plants 1000 ALNG I, II and III 1425 Petrochemicals 320 GTL 375 Metals Existing Plants 1000 ALNG I, II and III 1425 Petrochemicals 320 GTL 625 Metals 205 New Technology Table 4 Proven Reserves (tscf) Required for Various Minimum RTP Ratios Demand Scenario Gas Consumption Additional Gas Requirement to Maintain Various Minimum RTP 15 Years 20 Years 25 Years Low Demand Medium Demand High Demand

8 Cumulative Gas Consumption (tscf) Mmscfd GODFREY RANSOME and HAYDN I. FURLONGE 8 Figure 1 Projected Local Natural Gas Consumption Profiles For Various Growth Scenarios Low Medium High Year Figure 2 Cumulative Natural Gas Consumption Under Different Demand Scenarios Low Demand Medium Demand High Demand Year

Development of Natural Gas Industry in South America - Trinidad and Tobago

Development of Natural Gas Industry in South America - Trinidad and Tobago THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO Development of Natural Gas Industry in South America - Trinidad and Tobago FIESP 14 th International Energy Conference, Sao Paulo Brazil August 5,

More information

THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO

THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO T&T s Experience in Energy Integration in Latin America and the Caribbean : Achievements, Challenges and Lessons Learnt in Oil and Gas Industry Sheldon Butcher November 26 th, 2013 Discussion Areas Outline

More information

ENVIRONMENT AND ENERGY BULLETIN

ENVIRONMENT AND ENERGY BULLETIN ENVIRONMENT AND ENERGY BULLETIN Vol. 3 No. 2 June 2011 Editor: Jock A. Finlayson THE NATURAL GAS STORY Both globally and in North America, natural gas is poised to play a bigger role in meeting the energy

More information

Corporate Overview. The NGC Group of Companies

Corporate Overview. The NGC Group of Companies Corporate Overview The NGC Group of Companies The NGC Group of Companies Group Mission To create exceptional value from natural gas and related energy businesses through our people and strategic partnerships.

More information

NATIONAL ENERGY BOARD

NATIONAL ENERGY BOARD NATIONAL ENERGY BOARD IN THE MATTER OF the National Energy Board Act, being Chapter N-7 of the Revised Statutes of Canada, as amended, and the Regulations made thereunder; AND IN THE MATTER of an Application

More information

East Africa: for LNG in a New Frontier Region

East Africa: for LNG in a New Frontier Region 17 th INTERNATIONAL CONFERENCE & EXHIBITION ON LIQUEFIED NATURAL GAS (LNG 17) 17 th INTERNATIONAL CONFERENCE & EXHIBITION ON LIQUEFIED NATURAL GAS (LNG 17) East Africa: Opportunities

More information

PANEL DISCUSSION PAPER BY : HON GABRIEL. KAPRIS, MP, MINISTER FOR COMMERCE & INDUSTRY, PAPUA NEW GUINEA

PANEL DISCUSSION PAPER BY : HON GABRIEL. KAPRIS, MP, MINISTER FOR COMMERCE & INDUSTRY, PAPUA NEW GUINEA PACIFIC ENERGY SUMMIT Unlocking the Potential of Natural Gas in the Asia Pacific. 1. Overview Papua New Guinea (PNG), lies south of the equator, 150 kilometers north of Australia, sharing border with the

More information

Annual General Shareholders Meeting

Annual General Shareholders Meeting Annual General Shareholders Meeting 28 April 2014 Disclaimer: Ramba Energy Limited The information contained herein has been prepared by Ramba Energy Limited solely for presentations by Ramba Energy Limited.

More information

Commonwealth North Jim Harvey June 11, 2010

Commonwealth North Jim Harvey June 11, 2010 Commonwealth North Jim Harvey June 11, 2010 UniversalPegasus International Agenda Overview of UniversalPegasus What we do Gas Supply in US Pipeline Perspective Storage Projects UPI Experience GIS systems

More information

INTERCHANGEABILITY AND WOBBE INDEX USED AS QUALITY PARAMETER FOR LIQUEFIED NATURAL GAS

INTERCHANGEABILITY AND WOBBE INDEX USED AS QUALITY PARAMETER FOR LIQUEFIED NATURAL GAS INTERCHANGEABILITY AND WOBBE INDEX USED AS QUALITY PARAMETER FOR LIQUEFIED NATURAL GAS Rafael Rosal 1 and Sabrina Di Scipio 2. 1 Natural Gas Business Management Specialization. 2 Thermodynamics and Transfer

More information

Natural Gas Abundance: The Development of Shale Resource in North America

Natural Gas Abundance: The Development of Shale Resource in North America Natural Gas Abundance: The Development of Shale Resource in North America EBA Brown Bag Luncheon Bracewell & Giuliani Washington, D.C. February 6, 2013 Bruce B. Henning Vice President, Energy Regulatory

More information

Hydrocarbon Exploitation in Trinidad and Tobago. Sonja S. Teelucksingh Economics Department The University of the West Indies Trinidad and Tobago

Hydrocarbon Exploitation in Trinidad and Tobago. Sonja S. Teelucksingh Economics Department The University of the West Indies Trinidad and Tobago Hydrocarbon Exploitation in Trinidad and Tobago Sonja S. Teelucksingh Economics Department The University of the West Indies Trinidad and Tobago Location 2 Basic Facts (2006) Twin island republic Land

More information

Standardization of the Evaluation Criteria on Petroleum Resources

Standardization of the Evaluation Criteria on Petroleum Resources Standardization of the Evaluation Criteria on Petroleum Resources Standardization of Korean Petroleum Resources Classification and Definition (Unofficial Report) Contents I. Introduction 1. Significance

More information

Sacgasco Limited. ABN Unit 14, 210 Bagot Road, Subiaco, WA, T E

Sacgasco Limited. ABN Unit 14, 210 Bagot Road, Subiaco, WA, T E Sacgasco Limited ABN 83 114 061 433 Unit 14, 210 Bagot Road, Subiaco, WA, 6008. T +61 8 9388 2654 E info@sacgasco.com Announcement to ASX 16 May 2017 SACGASCO S TCF DEMPSEY PROSPECT FUNDED Agreement signed

More information

The Unconventional Oil and Gas Market Outlook

The Unconventional Oil and Gas Market Outlook The Unconventional Oil and Gas Market Outlook The future of oil sands, shale gas, oil shale and coalbed methane Report Price: $2875 Publication Date: July 2010 E N E R G Y The Unconventional Oil and Gas

More information

Gas Commerciality in Deepwater Colombia Opportunities and Challenges

Gas Commerciality in Deepwater Colombia Opportunities and Challenges Gas Commerciality in Deepwater Colombia Opportunities and Challenges Joel Busby - Anadarko Petroleum Corporation Cautionary Language Regarding Forward-Looking Statements and Other Matters This presentation

More information

Natural Gas Issues and Emerging Trends for the Upcoming Winter and Beyond

Natural Gas Issues and Emerging Trends for the Upcoming Winter and Beyond Natural Gas Issues and Emerging Trends for the Upcoming Winter and Beyond 2013 NASEO WINTER ENERGY OUTLOOK CONFERENCE November 1, 2013 Kevin Petak Vice President, ICF International Kevin.Petak@icfi.com

More information

26 JUNE 2012 UNIVERSITY OF CYPRUS, NICOSIA

26 JUNE 2012 UNIVERSITY OF CYPRUS, NICOSIA Moving Forward with Natural Gas THEGULF INTELLIGENCE 2ND LEVANT ENERGY FORUM 26 JUNE 2012 UNIVERSITY OF CYPRUS, NICOSIA The Need to Develop the Internal Gas Market Cyprus has an isolated energy system,

More information

Tapping the Kingdom s vast hydrocarbon resources requires best-in-class technology, such as this drilling rig designed in-house.

Tapping the Kingdom s vast hydrocarbon resources requires best-in-class technology, such as this drilling rig designed in-house. Tapping the Kingdom s vast hydrocarbon resources requires best-in-class technology, such as this drilling rig designed in-house. New onshore and offshore drilling joint ventures will ensure we have the

More information

Oman Last Updated: August 2009

Oman Last Updated: August 2009 Page 1 of 6 Oman Last Updated: August 2009 Oman is a significant non-opec oil exporter. Background Oman s economy is heavily reliant on oil exports for revenue, though diversification into natural gas

More information

Analysis of Oil and Gas Production in the Arctic National Wildlife Refuge

Analysis of Oil and Gas Production in the Arctic National Wildlife Refuge SR/OIAF/2004-04 Analysis of Oil and Gas Production in the Arctic National Wildlife Refuge March 2004 Energy Information Administration Office of Integrated Analysis and Forecasting U.S. Department of Energy

More information

Scoping Study Highlights Chad Liquefied Natural Gas (LNG) Project

Scoping Study Highlights Chad Liquefied Natural Gas (LNG) Project Scoping Study Highlights Chad Liquefied Natural Gas (LNG) Project CHAD LNG PROJECT SCOPING STUDY HIGHLIGHTS A long-term significant Investment Prefeasibility study to begin to evaluate the project optimisations,

More information

Good morning ladies and gentlemen and thank your for the introduction. Trends and Opportunities in the Indonesian Oil and Gas sector

Good morning ladies and gentlemen and thank your for the introduction. Trends and Opportunities in the Indonesian Oil and Gas sector Good morning ladies and gentlemen and thank your for the introduction The title of my presentation today is: Trends and Opportunities in the Indonesian Oil and Gas sector 1 To convey my message and provide

More information

SUNSET OF OIL AND GAS INVESTMENT IN INDONESIA: IS IT TRUE?

SUNSET OF OIL AND GAS INVESTMENT IN INDONESIA: IS IT TRUE? MINISTRY OF ENERGY AND MINERAL RESOURCES DIRECTORATE GENERAL OF OIL AND GAS SUNSET OF OIL AND GAS INVESTMENT IN INDONESIA: IS IT TRUE? By Dr. Naryanto Wagimin Director of Upstream Business Development

More information

LNG QUALITY AND THE UK GAS MARKET

LNG QUALITY AND THE UK GAS MARKET 23 RD World Gas Conference LNG QUALITY AND THE UK GAS MARKET Main author M. J. Winstanley, BP Gas Power and Renewables UK ABSTRACT The changes in the LNG business since the first commercial cargos back

More information

FROM RAILROAD COMMISSIONER RYAN SITTON

FROM RAILROAD COMMISSIONER RYAN SITTON 2018 E N E R G Y M A R K E T O U T L O O K FROM RAILROAD COMMISSIONER RYAN SITTON TABLE OF CONTENTS 2018 ENERGY MARKET OUTLOOK Summing up the analysis contained in this report in a few sentences, my prediction

More information

Chinese Investment Opportunities in Alaska

Chinese Investment Opportunities in Alaska Chinese Investment Opportunities in Alaska John Tichotsky, Ph.D. (Cantab.) Commonwealth North Energy Action Coalition July 26, 2018 Alaska is a resource state Largest oil and gas basin in North America

More information

American Strategy and US Energy Independence

American Strategy and US Energy Independence Cordesman: Strategy and Energy Independence 10/21/13 1 American Strategy and US Energy Independence By Anthony H. Cordesman October 21, 2013 Changes in energy technology, and in the way oil and gas reserves

More information

Annual Energy Outlook 2018 with projections to 2050

Annual Energy Outlook 2018 with projections to 2050 Annual Energy Outlook 218 with projections to 25 February 218 U.S. Energy Information Administration Office of Energy Analysis U.S. Department of Energy Washington, DC 2585 This publication is on the Web

More information

TRINIDAD AND TOBAGO ENERGY CONFERENCE JANUARY 2017

TRINIDAD AND TOBAGO ENERGY CONFERENCE JANUARY 2017 BY TRINIDAD AND TOBAGO ENERGY CONFERENCE JANUARY 2017 *No. of unique client sites Independent and neutral insight. The Rystad Energy business data solution is global. 400 350 300 250 200 150 100 50 0 2010

More information

PROSPECT - LEAD FIELD RECOVERABLE IN-PLACE TOTAL RESOURCES UNDISCOVERED RESOURCES DISCOVERED RESOURCES ESTIMATED ULTIMATE RECOVERY (EUR)

PROSPECT - LEAD FIELD RECOVERABLE IN-PLACE TOTAL RESOURCES UNDISCOVERED RESOURCES DISCOVERED RESOURCES ESTIMATED ULTIMATE RECOVERY (EUR) 1 2 RECOVERABLE IN-PLACE CUMULATIVE PRODUCTION ESTIMATED ULTIMATE RECOVERY (EUR) PROVED FIELD DISCOVERED RESOURCES RESERVES PROVED+ PROBABLE PROVED + PROBABLE +POSSIBLE 1P 2P 3P TOTAL RESOURCES LOW ESTIMATE

More information

Offshore Tanzania. Equinor in Tanzania

Offshore Tanzania. Equinor in Tanzania Block 2 Tanzania An emerging gas sector Major gas discoveries have been made offshore Tanzania and the country emerges as a potential large gas producer in East Africa. In Block 2, Equinor together with

More information

17 th INTERNATIONAL CONFERENCE & EXHIBITION ON LIQUEFIED NATURAL GAS (LNG 17)

17 th INTERNATIONAL CONFERENCE & EXHIBITION ON LIQUEFIED NATURAL GAS (LNG 17) 17 th INTERNATIONAL CONFERENCE & EXHIBITION ON LIQUEFIED NATURAL GAS (LNG 17) 17 th INTERNATIONAL CONFERENCE & EXHIBITION ON LIQUEFIED NATURAL GAS (LNG 17)

More information

ESTIMATING THE COST OF PIPELINE TRANSPORTATION IN CANADA Eugène Karangwa, Transport Canada

ESTIMATING THE COST OF PIPELINE TRANSPORTATION IN CANADA Eugène Karangwa, Transport Canada ESTIMATING THE COST OF PIPELINE TRANSPORTATION IN CANADA, Transport Canada INTRODUCTION Pipeline transportation is an important sector in the Canadian economy. Canada is a major energy producer in the

More information

COMMERCIALISING GAS RESOURCES IN PNG WHERE TO NOW?

COMMERCIALISING GAS RESOURCES IN PNG WHERE TO NOW? COMMERCIALISING GAS RESOURCES IN PNG WHERE TO NOW? 15 TH PNG MINING & PETROLEUM INVESTMENT CONFERENCE December 2018 OIL SEARCH LIMITED ARBN 055 079 868 ASX: OSH POMSoX: OSH US ADR: OISHY www.oilsearch.com

More information

1. Pricine of Crude Oil

1. Pricine of Crude Oil CHAPTER IX PRICLNG OF CRUDE OIL AND NATURAL GAS Having examined the present pricing system in the previous chapter, an attempt will now be made to critically analyze the system against established theoretical

More information

Jurassic Tight Oil Conceptual Development Study

Jurassic Tight Oil Conceptual Development Study Jurassic Tight Oil Conceptual Development Study Executive Summary UK Oil & Gas Investments PLC Xodus Group Cheapside House, 138 Cheapside London, UK, EC2V 6BJ T +44 (0)207 246 2990 E info@xodusgroup.com

More information

Good morning ladies and gentlemen

Good morning ladies and gentlemen Good morning ladies and gentlemen I am here today to talk about the imperatives of mobilizing investment for domestic oil and gas supply to help secure Indonesia s energy security and independence which

More information

China Oil and Gas Market Briefing. April 2014

China Oil and Gas Market Briefing. April 2014 China Oil and Gas Market Briefing April 2014 Summary Summary China s fuel mix China s fuel mix is dominated by coal - accounting for 70% of total fuel consumption, as the serious environmental problems

More information

POTENTIAL GAS COMMITTEE REPORTS UNPRECEDENTED INCREASE IN MAGNITUDE OF U.S. NATURAL GAS RESOURCE BASE

POTENTIAL GAS COMMITTEE REPORTS UNPRECEDENTED INCREASE IN MAGNITUDE OF U.S. NATURAL GAS RESOURCE BASE For Release June 18, 2009, 1100 EDT Contact: Dr. John B. Curtis, Potential Gas Agency, Colorado School of Mines, Golden, CO 80401-1887. Telephone 303-273-3886; fax 303-273-3574; ldepagni@mines.edu. POTENTIAL

More information

The outlook and opportunities for petrochemicals based on China s development of shale gas

The outlook and opportunities for petrochemicals based on China s development of shale gas China s shale gas The outlook and opportunities for petrochemicals based on China s development of shale gas LEE FAGG Nexant Nexant has recently completed a detailed analysis of the current and developing

More information

A Priority Project of the EU and integral component of the Southern Gas Corridor

A Priority Project of the EU and integral component of the Southern Gas Corridor White Stream A Priority Project of the EU and integral component of the Southern Gas Corridor Roberto Pirani Chairman of the Board November 2010 Project development by the White Stream Consortium White

More information

Briefing Memo: The Aphrodite gas field and the southeastern Mediterranean's new energy triangle THE HELLENIC AMERICAN LEADERSHIP COUNCIL

Briefing Memo: The Aphrodite gas field and the southeastern Mediterranean's new energy triangle THE HELLENIC AMERICAN LEADERSHIP COUNCIL THE HELLENIC AMERICAN LEADERSHIP COUNCIL Briefing Memo: The Aphrodite gas field and the southeastern Mediterranean's new energy triangle Prepared by: Georgia Logothetis Managing Director Hellenic American

More information

Utica Point Pleasant Play - Range s View on a Key Appalachian Basin Unconventional Target & Plans for Future Development

Utica Point Pleasant Play - Range s View on a Key Appalachian Basin Unconventional Target & Plans for Future Development Utica Point Pleasant Play - Range s View on a Key Appalachian Basin Unconventional Target & Plans for Future Development STRH 5 th Utica Shale Mini Conference November 14, 2013 Forward-Looking Statements

More information

PERU S S EXPLORATION FUTURE

PERU S S EXPLORATION FUTURE PERU S S EXPLORATION FUTURE Dr. Daniel Saba de Andrea Chairman of the Board PERUPETRO S.A. Rio de Janeiro March 2010 Peru Southern American Country Area : 1 285,215 km2. (496,224 sq. miles) Population:

More information

Solon Kassinis Director - Energy Service

Solon Kassinis Director - Energy Service New Energy Sources of Supply for Europe: The Prospects for Southeast Europe and Eastern Mediterranean Solon Kassinis Director - Energy Service 16 th Roundtable with the Government of Greece Transforming

More information

those where domestic gas prices and affordability both in absolute terms and relative to other sources of energy are likely to restrict development of

those where domestic gas prices and affordability both in absolute terms and relative to other sources of energy are likely to restrict development of Can Demand for Imported LNG in Asia Increase Because It is a Cleaner Energy Source? Jonathan Stern * Introduction During the period 2014-21, global LNG supply is expected to increase from around 320 Bcm

More information

Overview. Key Energy Issues to Economic Growth

Overview. Key Energy Issues to Economic Growth Key Energy Issues to 225 The Energy Information Administration (EIA), in preparing model forecasts for its Annual Energy Outlook 25 (AEO25), evaluated a wide range of current trends and issues that could

More information

ENERGY OUTLOOK: INDUSTRY DYNAMICS IN A WORLD OF SURPLUS

ENERGY OUTLOOK: INDUSTRY DYNAMICS IN A WORLD OF SURPLUS Asia-Pacific Europe North America ENERGY OUTLOOK: INDUSTRY DYNAMICS IN A WORLD OF SURPLUS Ed Osterwald Senior Partner, CEG Europe Antwerp, May 2016 OVERVIEW An industry in turmoil 2 REMEMBER: The Stone

More information

SYNOPSIS OF THE 2017 NATIONAL GAS POLICY

SYNOPSIS OF THE 2017 NATIONAL GAS POLICY SYNOPSIS OF THE 2017 NATIONAL GAS POLICY Introduction On Wednesday, June 28, 2017, the Federal Executive Council (FEC) at its monthly meeting approved the National Gas Policy, 2017 ( NGP ). The NGP, which

More information

assets, growth and development strategies

assets, growth and development strategies assets, growth and development strategies leveraging first mover advantage Ebbie Haan, managing director, Sasol Petroleum International forward-looking statements Forward-looking statements: Sasol may,

More information

Analogs in Resource Assessment and Beyond

Analogs in Resource Assessment and Beyond Analogs in Resource Assessment and Beyond Presented by Dr. Shengyu Wu James Faroppa, Dr. S. Qing Sun Date October 16, 2018 Presented by The intelligence behind the world s most successful oil and gas companies

More information

LNG: Towards a global natural gas market. The Mexican experience

LNG: Towards a global natural gas market. The Mexican experience LNG: Towards a global natural gas market. The Mexican experience Mr. Gerardo Bazan G., PEMEX CEO Advisor, +(52)-55-19448765, gbazan@dg.pemex.com The views and opinions presented in this paper do not represent

More information

AZPROMO PROJECT PLAN. 5) Marketing strategy, (including market review, target customers, and communication strategy)

AZPROMO PROJECT PLAN. 5) Marketing strategy, (including market review, target customers, and communication strategy) AZPROMO PROJECT PLAN PROJECT: Gas to Liquid (Synthetic Oil) Technology Project Contents: 1) Background and Sector review 2) Project Objective 3) Project Description 4) Location Description 5) Marketing

More information

38th Annual Alaska Resources Conference

38th Annual Alaska Resources Conference 38th Annual Alaska Resources Conference November 16, 2017 Keith Meyer 1 AGDC JOINT AGREEMENT Pence 2 PRESENTATION OVERVIEW Alaska LNG system economic overview. China agreement; implications for Alaska

More information

NATURAL GAS TRANSMISS ION & DIS TR IB UTION IN INFRASTRUCTURE DEVELOPMENT IN PAKISTAN & ITS ROLE IN POWER GENERATION

NATURAL GAS TRANSMISS ION & DIS TR IB UTION IN INFRASTRUCTURE DEVELOPMENT IN PAKISTAN & ITS ROLE IN POWER GENERATION Paper No. 267 NATURAL GAS TRANSMISS ION & DIS TR IB UTION IN INFRASTRUCTURE DEVELOPMENT IN PAKISTAN & ITS ROLE IN POWER GENERATION By A. Rashid Lone 99 100 NATURAL GAS TRANSMISSION & DISTRIBUTION IN INFRASTRUCTURE

More information

Reforming the East Coast gas market

Reforming the East Coast gas market Reforming the East Coast gas market Solutions to keep gas-intensive manufacturing in Australia 1. The case for urgent market reform Australia s East Coast gas market is undergoing a profound structural

More information

Carbon Capture and Storage

Carbon Capture and Storage STATE OF THE WORLD 2009 Climate Connections Carbon Capture and Storage Peter Viebahn, Manfred Fischedick, and Daniel Vallentin Peter Viebahn is a Project Co-ordinator and research fellow, and Daniel Vallentin

More information

2* World Oil Resources. an estimate of the amount of oil reserves that can be proved from the known

2* World Oil Resources. an estimate of the amount of oil reserves that can be proved from the known 2* World Oil Resources A. Reserves One method for determining HOW much oil is there? t is to respond with an estimate of the amount of oil reserves that can be proved from the known oil in place. Unfortunately,

More information

Accelerated Depletion: Assessing Its Impacts on Domestic Oil and Natural Gas Prices and Production

Accelerated Depletion: Assessing Its Impacts on Domestic Oil and Natural Gas Prices and Production SR/OIAF/2000-04 : Assessing Its Impacts on Domestic Oil and Natural Gas Prices and Production July 2000 Energy Information Administration Office of Integrated Analysis and Forecasting U.S. Department of

More information

AN OVERVIEW OF THE NIGERIAN DOWNSTREAM GAS MARKET. Emeka Onyegbule Market Competition and Rates Division, NERC Abuja 27 th November 2012

AN OVERVIEW OF THE NIGERIAN DOWNSTREAM GAS MARKET. Emeka Onyegbule Market Competition and Rates Division, NERC Abuja 27 th November 2012 AN OVERVIEW OF THE NIGERIAN DOWNSTREAM GAS MARKET Emeka Onyegbule Market Competition and Rates Division, NERC Abuja 27 th November 2012 Presentation Outline Background Challenges and Obstacles to Gas development

More information

Energy and Economic Update for Louisiana and the Gulf Coast Region

Energy and Economic Update for Louisiana and the Gulf Coast Region Energy and Economic Update for Louisiana and the Gulf Coast Region Gregory B. Upton Jr., Ph.D. Louisiana State University Center for Energy Studies Kinetica Partners, LLC 2018 Shipper s Meeting Lake Charles,

More information

5th OPEC International Seminar Vienna, 14 June 2012

5th OPEC International Seminar Vienna, 14 June 2012 5th OPEC International Seminar Vienna, 14 June 2012 Statement by Christiana Figueres, Executive Secretary United Nations Framework Convention on Climate Change Excellencies, I thank you for the very kind

More information

17 May Shale Gas Cost And Technology Perspective. Kolkata

17 May Shale Gas Cost And Technology Perspective. Kolkata 17 May 2013 Shale Gas Cost And Technology Perspective Kolkata Supply / Demand Dynamics For Indian Gas AN ATTRACTIVE MARKET FOR YEARS TO COME Current gas supply by source Existing PVT / JV, 37% Existing

More information

Global LNG Dynamics and South East Mediterranean Hydrocarbons Potential

Global LNG Dynamics and South East Mediterranean Hydrocarbons Potential Global LNG Dynamics and South East Mediterranean Hydrocarbons Potential Athanasios Pitatzis! Workshop of SPE Kavala Section activities and EMaTTech research advances! Global Oil&Gas: Black Sea & Mediterranean

More information

LNG FROM COLOMBIA Platts 13 th Annual Caribbean Energy Jan 24 th 2013

LNG FROM COLOMBIA Platts 13 th Annual Caribbean Energy Jan 24 th 2013 LNG FROM COLOMBIA Platts 13 th Annual Caribbean Energy Jan 24 th 2013 FORWARD LOOKING STATEMENT All monetary amounts are in U.S. dollars unless otherwise stated. This presentation contains forward-looking

More information

North America Midstream Infrastructure through 2035: Capitalizing on Our Energy Abundance

North America Midstream Infrastructure through 2035: Capitalizing on Our Energy Abundance North America Midstream Infrastructure through 2035: Capitalizing on Our Energy Abundance Prepared by ICF International for The INGAA Foundation, Inc. Support provided by America s Natural Gas Alliance

More information

Annual Energy Outlook 2017 with projections to 2050

Annual Energy Outlook 2017 with projections to 2050 Annual Energy Outlook 217 with projections to 25 #AEO217 January 5, 217 Table of contents Page Overview/key takeaways 3 Critical drivers and uncertainty 31 Petroleum and other liquids 4 Natural gas 51

More information

PAPUA NEW GUINEA PETROLEUM SECTOR

PAPUA NEW GUINEA PETROLEUM SECTOR PAPUA NEW GUINEA CHAMBER OF MINES AND PETROLEUM PAPUA NEW GUINEA PETROLEUM SECTOR The oil price fell sharply in December 2014 from a high of US$115 barrel to below US$30 a barrel in early 2016 due to excess

More information

UNDERSTANDING NATURAL GAS MARKETS. Mohammad Naserifard MSc student of Oil & Gas Economics at PUT Fall 2015

UNDERSTANDING NATURAL GAS MARKETS. Mohammad Naserifard MSc student of Oil & Gas Economics at PUT Fall 2015 UNDERSTANDING NATURAL GAS MARKETS Mohammad Naserifard MSc student of Oil & Gas Economics at PUT Fall 2015 Table of Contents 3 Overview Natural Gas is an Important Source of Energy for the United States.

More information

AFGHANISTAN FROM TRANSITION TO TRANSFORMATION II

AFGHANISTAN FROM TRANSITION TO TRANSFORMATION II AFGHANISTAN FROM TRANSITION TO TRANSFORMATION II July 2, 2013 Senior Officials Meeting The World Bank OUTLINE Development realities of Afghanistan Transition economics: Growth and fiscal sustainability

More information

FINDINGS, SUGGESTIONS AND CONCLUSION

FINDINGS, SUGGESTIONS AND CONCLUSION CHAPTER-VIII FINDINGS, SUGGESTIONS AND CONCLUSION.. 8.1 Major Findings of the Research This study has analyzed the economic aspects of petroleum during the pre-reform (1970-1990) and reform (1990-2010)

More information

ASX : MRL. Papua New Guinea s nation building diversified resources & energy company

ASX : MRL. Papua New Guinea s nation building diversified resources & energy company ASX : MRL Papua New Guinea s nation building diversified resources & energy company Company Presentation PNG Mining and Petroleum Conference Port Moresby 29 November 2017 Disclaimer Forward Looking Statements

More information

Capturing Resource Rents

Capturing Resource Rents Capturing Resource Rents by Analysing the True Economic Value of the Resource and Factoring Sustainability & Energy Security Concerns The Case of Trinidad and Tobago Accounting for the Petrodollar Justin

More information

Shouyang CBM Project Design for Production

Shouyang CBM Project Design for Production Far East Energy Corporation U.S. - China Oil and Gas Industry Forum Chengdu, China Shouyang CBM Project Design for Production David J. Minor, P.E. Executive Director of Operations September 24-26, 2011

More information

Testimony of Samantha Gross 1 Fellow, Cross-Brookings Initiative on Energy and Climate, Brookings Institution

Testimony of Samantha Gross 1 Fellow, Cross-Brookings Initiative on Energy and Climate, Brookings Institution Testimony of Samantha Gross 1 Fellow, Cross-Brookings Initiative on Energy and Climate, Brookings Institution U.S. House of Representatives Committee on Foreign Affairs Subcommittee on Terrorism, Nonproliferation,

More information

Domestic Onshore Option for Timor Sea Gas: Analysis of Implications for Australia. A Report to the Northern Territory Government

Domestic Onshore Option for Timor Sea Gas: Analysis of Implications for Australia. A Report to the Northern Territory Government Domestic Onshore Option for Timor Sea Gas: Analysis of Implications for Australia A Report to the Northern Territory Government May 2002 Prepared by ACN 058 284 521 CANBERRA OFFICE SYDNEY OFFICE BRISBANE

More information

For personal use only

For personal use only Dorado follow-up potential 15 October 2018 Dorado-1 oil discovery unlocks new oil focussed play type in Bedout Basin Recoverable oil from the Roc South prospect is estimated at 56 million barrels (Gross

More information

Calima to benefit from ~ A$72 Billion of proposed investment in Western Canadian gas pipeline infrastructure

Calima to benefit from ~ A$72 Billion of proposed investment in Western Canadian gas pipeline infrastructure Market Announcements Platform ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 ASX Code: CE1 July 4, 2018 Calima to benefit from ~ A$72 Billion of proposed investment in Western Canadian gas

More information

Developing Domestic Gas Infrastructure...a private sector approach

Developing Domestic Gas Infrastructure...a private sector approach Developing Domestic Gas Infrastructure...a private sector approach The Nigerian Infrastructure Summit Transcorp Hilton, Abuja 6 th -8 th August 2008 Wale Tinubu Oando PLC 1 Outline 1.0 Background Nigerian

More information

Assessing Today's Supplies to Fuel Tomorrow's Growth

Assessing Today's Supplies to Fuel Tomorrow's Growth WORLD ENERGY OUTLOOK - INSIGHTS Assessing Today's Supplies to Fuel Tomorrow's Growth Dr. Fatih Birol Head, Economic Analysis Division International Agency / OECD World Series World 1998 World 1999 Looking

More information

For personal use only

For personal use only Corporate Presentation June 2014 Important Notice The information in this presentation is in summary form and should not be relied upon as a complete and accurate representation of any matters that a potential

More information

Regional Energy, National Solutions

Regional Energy, National Solutions Fact Sheet Regional Energy, National Solutions Two clear paths lie ahead for America s energy future. The first embraced by the American Petroleum Institute and its supporters in Washington and across

More information

Cuba Block 9 Production Sharing Contract (Melbana Energy 100% # )

Cuba Block 9 Production Sharing Contract (Melbana Energy 100% # ) (Melbana Energy 100% # ) Overview of Block 9 PSC, Onshore Cuba Proven hydrocarbon system, on trend with the giant Varadero oil field The Cuba Block 9 Production Sharing Contract ( Block 9 PSC ), covers

More information

CHALLENGES AND OPPORTUNITIES FOR THE SUPPLIERS OF TECHNOLOGIES, EQUIPMENT AND SERVICES FOR SEPARATION TOWERS

CHALLENGES AND OPPORTUNITIES FOR THE SUPPLIERS OF TECHNOLOGIES, EQUIPMENT AND SERVICES FOR SEPARATION TOWERS CHALLENGES AND OPPORTUNITIES FOR THE SUPPLIERS OF TECHNOLOGIES, EQUIPMENT AND SERVICES FOR SEPARATION TOWERS Urs Fankhauser Sulzer Chemtech Ltd. The increasing globalization of the industry and the shifting

More information

Yanbu, Saudi Arabia: Cultivating Employment Growth in a New Middle East City

Yanbu, Saudi Arabia: Cultivating Employment Growth in a New Middle East City In 2013, the Royal Commission for Yanbu, Saudi Arabia completed the first economic plan for the new city of Yanbu, the initial component of an ambitious 2-year comprehensive planning process to identify

More information

IS THE AK LNG PROJECT THE ONLY VIABLE OPTION FOR THE NORTH SLOPE? The Administration says yes but reality says NO - there are other options

IS THE AK LNG PROJECT THE ONLY VIABLE OPTION FOR THE NORTH SLOPE? The Administration says yes but reality says NO - there are other options IS THE AK LNG PROJECT THE ONLY VIABLE OPTION FOR THE NORTH SLOPE? The Administration says yes but reality says NO - there are other options As a result of the August 24 th and 25 th Alaska Legislature

More information

PETROLEUM SECTOR. Crude Oil

PETROLEUM SECTOR. Crude Oil PETROLEUM SECTOR During 2000 the international oil market witnessed remarkable developments on both supply and demand sides. The most important of such developments was the OPEC decision to increase the

More information

S y n t h e s i s E n e r g y S y s t e m s

S y n t h e s i s E n e r g y S y s t e m s S y n t h e s i s E n e r g y S y s t e m s A Global Industrial Gasification Company Timothy Vail, President & CEO 2007 Gasification Technologies Conference San Francisco, CA October 16, 2007 C l e a n

More information

Incorporating Numerical Simulation Into Your Reserves Estimation Process: A Practical Perspective

Incorporating Numerical Simulation Into Your Reserves Estimation Process: A Practical Perspective Incorporating Numerical Simulation Into Your Reserves Estimation Process: A Practical Perspective Dean C. Rietz, P. E. October 4, 2017 Society of Petroleum Engineers Distinguished Lecturer Program www.spe.org/dl

More information

first oil from deep offshore and remote regions, then to tar-sands, shale, and synthetic liquids from coal.

first oil from deep offshore and remote regions, then to tar-sands, shale, and synthetic liquids from coal. U.S. HOUSE OF REPRESENTATIVES COMMITTEE ON FOREIGN AFFAIRS National security consequences of U.S. oil dependence John Deutch March 22, 2007 Massachusetts Institute of Technology, Cambridge MA, 02139 Mr.

More information

Morningstar Document Research

Morningstar Document Research Morningstar Document Research FORM 6-K YPF SOCIEDAD ANONIMA - YPF Filed: February 08, 2012 (period: February 08, 2012) Report of foreign issuer rules 13a-16 and 15d-16 of the Securities Exchange Act FORM

More information

The SPE Foundation through member donations and a contribution from Offshore Europe

The SPE Foundation through member donations and a contribution from Offshore Europe Primary funding is provided by The SPE Foundation through member donations and a contribution from Offshore Europe The Society is grateful to those companies that allow their professionals to serve as

More information

ST98: 2018 ALBERTA S ENERGY RESERVES & SUPPLY/DEMAND OUTLOOK. Executive Summary.

ST98: 2018 ALBERTA S ENERGY RESERVES & SUPPLY/DEMAND OUTLOOK. Executive Summary. ST98: 2018 ALBERTA S ENERGY RESERVES & SUPPLY/DEMAND OUTLOOK Executive Summary ST98 www.aer.ca EXECUTIVE SUMMARY The Alberta Energy Regulator (AER) ensures the safe, efficient, orderly, and environmentally

More information

ST98: 2018 ALBERTA S ENERGY RESERVES & SUPPLY/DEMAND OUTLOOK. Executive Summary.

ST98: 2018 ALBERTA S ENERGY RESERVES & SUPPLY/DEMAND OUTLOOK. Executive Summary. ST98: 2018 ALBERTA S ENERGY RESERVES & SUPPLY/DEMAND OUTLOOK Executive Summary ST98 www.aer.ca EXECUTIVE SUMMARY The Alberta Energy Regulator (AER) ensures the safe, efficient, orderly, and environmentally

More information

Sweeny Gasification Project February 8, 2010

Sweeny Gasification Project February 8, 2010 Sweeny Gasification Project February 8, 2010 CAUTIONARY STATEMENT FOR THE PURPOSES OF THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 The following presentation includes

More information

Natural gas commercialization in Cyprus

Natural gas commercialization in Cyprus The Economist Conferences 10 th Cyprus Summit November 4 th, 2014 Hilton Park Nicosia, Cyprus Natural gas commercialization in Cyprus Noble Energy International Ltd 1 Dead Sea Transform Eastern Mediterranean

More information

Chevron Corporation (CVX) Analysts: Jacob Mast and Robert Smith Fall Recommendation: BUY Target Price until (12/31/2015): $125.

Chevron Corporation (CVX) Analysts: Jacob Mast and Robert Smith Fall Recommendation: BUY Target Price until (12/31/2015): $125. Recommendation: BUY Target Price until (12/31/2015): $125.00 1. Reasons for the Recommendation One of the main reasons for our recommendation of Chevron as a Buy is because of their plans for divestiture

More information

Annex 27: Commission Paper on the Comparative Benefits of Timor LNG and Darwin LNG & Condensed Comparative Analysis of Alternative Development

Annex 27: Commission Paper on the Comparative Benefits of Timor LNG and Darwin LNG & Condensed Comparative Analysis of Alternative Development Annex 27: Commission Paper on the Comparative Benefits of Timor LNG and Darwin LNG & Condensed Comparative Analysis of Alternative Development Concepts COMMISSION PAPER ON THE COMPARATIVE DEVELOPMENT BENEFITS

More information

Introduction Petroleum Exploration, Development and Production

Introduction Petroleum Exploration, Development and Production Introduction Petroleum Exploration, Development and Production Consultative Meeting with Turkana County Leaders 24 th July 2014 Mohammed Amin Adam (PhD) Africa Centre for Energy Policy 1 Oil and Gas Project

More information