LNG Facts A Primer. Presentation before US Department of Energy, Office of Fossil Energy, LNG Forums. March 10, Kristi A. R.

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1 LNG Facts A Primer Presentation before US Department of Energy, Office of Fossil Energy, LNG Forums March 10, 2006 Kristi A. R. Darby Center for Louisiana State University

2 Overview What is Natural Gas? Background on LNG Why LNG? LNG Importers and Facilities

3 What is Natural Gas?

4 The Natural Gas Industry Natural Gas Wells Gas Processing Plant Main Line Sales Natural Gas Company Consumers Underground Storage Production Transmission Distribution Source: Energy Information Administration, Department of Energy

5 Natural Gas Usage Natural gas important for all consumers Residential Commercial Natural Gas Industrial - Furnace/Heat - Boiler/Steam -Feedstock -Power Generation Power Generation

6 Components of Natural Gas Natural gas is the basic building block of many household goods Natural Gas Stream Methane Ethane Propane Butane Ethylene Propylene Butylene Textiles Paints Cosmetics Xylene Detergents Tires Toulene Toys Dry Cleaning Pharmaceuticals

7 Background on LNG

8 19 th century - British chemist and physicist Michael Faraday experimented with liquefying different types of gases German engineer Karl van Linde built the first practical compressor refrigerator machine First LNG plant built in West Virginia First commercial liquefication plant is built in Cleveland, Ohio January The world's first LNG tanker, the Methane Pioneer carries LNG from Lake Charles, LA, to Canvey Island, UK 1971 Everett, MA import facility is built British Gas Council imports from Algeria, making the UK the world's first LNG importer and Algeria the first exporter LNG exported from Kenai plant, AK to Japan LNG History 1974 Cove Point, MD import facility is built 1978 Elba Island, GA import facility is built 1981 Lake Charles, LA import facility is built

9 Properties of LNG Liquefied natural gas (LNG) is natural gas that has been turned into a liquid by cooling it to a temperature of -256 F at atmospheric pressure It consists of primarily methane (typically, at least 90 percent) LNG is odorless, colorless, non-corrosive and non-toxic Liquefying natural gas reduces its volume by a factor of approximately 610 LNG s flammability range limits are 5 to 15 percent in air

10 Natural Gas Reserves by Country (2004) Considerable reserves around the world just not in the areas where the gas is needed Rest of World 22% Russia 28% Venezuela 2% Nigeria 3% Iraq 2% Algeria 3% United States 3% United Arab Emirates 3% Saudi Arabia 4% Source: Energy Information Administration, Department of Energy Total World Reserves of 6,079 Tcf Qatar 15% Iran 15%

11 Economic Sharing in the LNG Chain Regasification terminals are one small portion of the development of an overall LNG project Gas Producer $0.5 to $1.0 billion $ $1.00 / MMBtu 23% of total cost Liquefaction $0.8 to $1.0 billion $ $1.00 / MMBtu 28% of total cost Shipping* $0.6 to $1.2 billion $ $1.60 / MMBtu 35% of total cost Receiving Terminal $300-$400 million $ $0.50 / MMBtu 14% of total cost Cost out of Plant Total Investment: $2.2 to $3.6 billion $2.50 $3.50 / MMBtu Note: *depends upon the distance shipped Source: Cheniere LNG Industry Profile,

12 LNG Schematic: Production to End-User to fuel over 20 percent of Massachusetts's natural gas fueled electric power plants for 1 month OR to fuel almost 2.5 percent of Massachusetts s residential customers for 1 year (over 31,000 customers) OR to fuel 75 percent of Massachusetts's industrial plants for 1 month Assumptions: - One 1 LNG tanker carries approximately 125,000 to 138,000 cubic meters of LNG, which will provide about 2.6 to 2.8 bcf of natural gas - Average monthly power usage of 13.1 bcf; - Average monthly industrial usage of 3.98 MMcf Source: Energy Information Administration; Federal Energy Regulatory Commission; Center for Energy Economics, BEG, UT-Austin; and Statoil.com.

13 Receiving Terminal LNG Gas Flow LNG Ship to Tanks Natural Gas LNG Tanks to Vaporizers Tank 1 Tank 2 Tank 3 Boiloff Compressors As LNG boils off, the gas is withdrawn from the tanks and compressed. As gas is required, pumps inside the tanks transfer LNG to the plant vaporizers. The plant vaporizers warm the LNG until it vaporizes. Gas Pipeline

14 Types of Offshore LNG Receiving Terminals source: shell-usgp.com source: elpaso.com Gravity Based Structure Onboard Vessel Regasification System (with submerged buoy) Floating Storage and Regasification Unit Source: lngsolutions.bhpbilliton.com

15 Why LNG?

16 Daily Henry Hub Prices (1998-Present) $20 Prices have changed dramatically since winter when markets for gas became exceptionally tight $18 $16 $14 ($/Mcf) $12 $10 $8 $6 Average through 2000: $2.89 (standard deviation: 1.46) $4 $2 $0 Jan-98 Jul-98 Jan-99 Jul-99 Jan-00 Jul-00 Jan-01 Jul-01 Jan-02 Jul-02 Jan-03 Jul-03 Jan-04 Jul-04 Jan-05 Jul-05 Jan-06 average for period since heating season: $5.55 (standard deviation: 2.44) Source: Intercontinental Exchange

17 Natural Gas Productive Capacity and Utilization 60 Producers are at the limits of production capabilities 100% Production Capabilities (Bcf per day) % 90% 85% 80% 75% Utilization (percent) Note: This is an approximation. Source: EnergySeer.com 70%

18 U.S. Natural Gas Production and Monthly Rig Count (1997-Present) Despite increased drilling efforts, production is falling; The US is seeing decreasing drilling productivity 1,600 1,400 3 percent increase in production (Aug-99 to Dec-01) 3 percent decrease in production 68 (Sep-04 to Nov-05) 67 1, Rig Count 1, percent increase in rigs (Apr-99 to Jul-01) 72 percent increase in rigs (Jan-03 to Nov-05) Production (Bcd/d) Rig Count Production (12-month moving average) 0 Jan-97 Jan-98 Jan-99 Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan Source: Energy Information Administration, Department of Energy; and Baker-Hughes Inc.

19 Resource Estimates Restricted Areas Estimated Percentage Restricted Producers are drilling over the same areas despite several new areas being technically available ANWR = 3.5 TCF ANS = 35 TCF Source: Independent Petroleum Association of America

20 US Natural Gas Market Status Center for Pipeline Imports Limited Domestic Production Pipeline Exports In addition, the U.S. has limitations on importing natural gas from other parts of North America and it can t be shipped in it s natural form.

21 LNG Worldwide Statistics LNG Regasification Import Terminals LNG Liquefaction Facilities Number of Storage Number of Storage Tanks Capacity Trains Capacity (thousand m 3 ) (million tons/year) Africa Europe 33 2, Asia , Middle East North America 13 1, South America

22 LNG Worldwide Tanker Fleet ( ) As of 2003, 151 LNG tankers were in operation worldwide Ships Built Total Fleet Capacity 55 ships are currently under construction. The addition of new ships will raise total fleet capacity 44 percent from 17.4 million cubic meters, to 25.1 million cubic meters in ,000 20, Ships Built 15,000 10,000 Fleet Capacity (thousand cubic meters) 5,000 0 Source: Energy Information Administration, Department of Energy

23 LNG Importers and Facilities

24 World Importers of LNG: Imports as Percent of Total Natural Gas Consumption (2003) U. S. 3% Italy 9% Turkey 22% Puerto Rico Greece 23% 100% Mexico 0.02% Belgium 22% France 21% Spain 63% Portugal 18% Japan 92 % S. Korea 100 % Taiwan 86% Central and South America 1% Source: Energy Information Administration, Department of Energy

25 US LNG Facilities A number of small LNG facilities throughout the US are used for peak shaving or to meet the needs of areas isolated from storage and/or pipeline infrastructure Everett Cove Point Marine Terminal Import (4) Storage (with liquefaction) (57) Storage (without liquefaction) (39) Stranded Utility (3) Vehicular Fuel (2) Nitrogen rejection unit or special processing (5) Lake Charles Elba Island Source: Energy Information Administration, Department of Energy.

26 Current US LNG Import Terminals Lake Charles, Louisiana 6.3 Bcf Storage Capacity Regasification Capacity: Peak: 1.2 Bcf per day Baseload: 1 Bcf per day Everett, Massachusetts 3.5 Bcf Storage Capacity Regasification Capacity: Peak: 885 MMcf per day Baseload: 710 MMcf per day Cove Point, Maryland 7.8 Bcf Storage Capacity Regasification Capacity: Peak: 1 Bcf per day Baseload: 750 MMcf per day Gulf Gateway Energy Bridge No Storage Capacity Regasification Capacity: Peak & Baseload: 500 MMcf per day Elba Island, Georgia 7.3 Bcf Storage Capacity Regasification Capacity: Peak: 1.2 Bcf per day Baseload: 1 Bcf per day Source: Energy Information Administration, Department of Energy

27 Thank You

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