Jordan LNG Project. Presented By: Eng. Ahmad Zubi / NEPCO

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1 Jordan LNG Project Presented By: Eng. Ahmad Zubi / NEPCO

2 Contents: Part 1 Introduction Part 2 Terminal Project Part 3 LNG Procurement Strategy

3 Part 1 Introduction

4 The Hashemite Kingdom Of Jordan Quick Facts (2015) Area: km 2 Population: 9.9 million GDP: USD 40 billion GDP per capita: USD 6,100 GDP growth rate: 3.3% Imported Energy: 97% Electricity demand growth rate: 5.5% Power Generation Capacity: 4,000 MW Registered Peak Load: 3,300 MW

5 Fuel cost (Pass through) What is NEPCO? Is the National Electric Power Company.. Fuel Supply Generation Companies PPAs Renewable Projects PPAs Electrical Interconnection NEPCO (System Operator) Distribution Companies Principal Consumers Regulated Tariff (EMRC) Single Buyer Model

6 Natural Gas History in Jordan In the year 2003, NEPCO started to use the Egyptian Gas, through a pipeline from the Egyptian fields to Jordan and extends to Syria, Lebanon and Turkey (Arab Gas Pipeline Project). So, the Jordanian Power Generation started to depend mainly on the NG (>80%).

7 NEPCO Financial Crisis But, from the year 2011, some circumstances occurred and affect the ability of Egypt to Supply the NG to Jordan: 400,0 350,0 300,0 250,0 200,0 150,0 100,0 50,0 0, Egyptian Gas Supply profile for Jordan in (mmscft/d) - Contractual Limit Actual Supply As result Jordan has resorted to import more expensive fuels such as HFO and LFO which raised the energy bill further to 20% of the GDP and forced NEPCO to increase substantial losses. The optimum solution for Jordan was building the LNG Terminal.

8 Part 2 Terminal Project

9 Project Main Elements

10 NEPCO Role MEMR act [As Regulator] The terminal started to receive LNG cargoes since

11 Sheikh Sabah Al Ahmad Terminal Terminal construction cost was USD 65 million financed by Kuwait Fund For Arab Economic Development. The Terminal site and facilities has been leased to NEPCO through a Terminal User Agreement with ADC. The Terminal has been reviewed and approved by many LNG suppliers (e.g. Shell, Vitol, BG, PB and Trafigura..etc). Terminal doors are open for any company for inspection and study, and NEPCO welcomes any comment.

12 Golar Eskimo Golar was reached upon a tender issued by MEMR in The contract was signed on between MEMR & Golar Eskimo, and transferred to NEPCO in August 2015 through Novation Agreement signed between the parties. The term of the agreement is for 10 years can be terminated after the 5th year by NEPCO option. - Golar Eskimo upon arrival on

13 Golar Eskimo Golar Eskimo is an 160,000 m 3 Floating Storage & Regasification Unit. By its three Regasification Skids, Golar Eskimo can send out NG up to 710 mmscft/d (Peak Capacity). Contractually, the maximum send out rate is 490 mmscft/d (Maximum Capacity). The contractual availability of the FSRU is 98%

14 Marine Services In spite of the relative stability of the sea water in the gulf of Aqaba, we have 4 tug boats in Aqaba with power of 80 tons/tug. These 4 tugs are specialised only for the LNG terminal. The 4 Tugs are brand-new made in Turkey by Sanmar

15 Terminal O&M SPT was reached upon a tender issued by NEPCO in SPT has a good experience in this field (i.e. as they work in Mina Al-Ahmadi Gasport, Kuwait since 2007). Third Party Surveyor NEPCO contracted with INTERTEK as the Third Party Surveyor for whole LNG cargoes reaches Sheikh Sabah Al Ahmad Terminal.

16 Gas Transportation A 10 years Gas Transportation Agreement has been entered with Fajr Company since Under the Agreement, Fajr transports the Gas from the output of Terminal at Aqaba to the inlet of the power plants all over the country.

17 Part 3 LNG Procurement Strategy

18 NEPCO Needs NEPCO NG (mmscft/d) Up to 10 years, NEPCO s demand may not exceed 400mmscft/d, if the Oil-Shale generation project is operated in 2020 as expected. After that, the expectations may goes down also by 300 mmscf/d, if the operation of the Nuclear Project starts, which is excepted to be in 2 phases in 2026 & 2027.

19 Shell 5 years Contract The GoJ issued a tender in 2013, which awarded to Shell upon competition with 7 prequalified companies. A 5-years SPA was signed with Shell International Trading Middle East on for a quantity of tbtu/year (around cargoes/year).

20 Shell 5 years Contract SPA quantity can cover around 40% of NEPCO needs. Furthermore, NEPCO used the SPA, to contract with Shell to provide: 1. the Commissioning Cargo on Golar Eskimo itself, which reached Aqaba with 3.3 tbtu of LNG. 2. Additional 6 cargoes to be delivered in 2015.

21 Spot Market Supply In order to complete its need, NEPCO has signed 22 MSA with the following suppliers:

22 Spot Market Supply NEPCO purchases spot cargoes through open tenders 5 spot cargoes were purchased in 2015: Vitol Trafigura Trafigura Trafigura BG On the 17 th of August On the 1 st of September On the 21 st of September On the 6 th of October On the 13 th of October 3 spot cargoes were purchased in 2016: Gas Natural Gunvor Shell On the 16th of February On the 23rd of March On the 23rd of July

23 Master Sales Agreements NEPCO still welcoming signing any MSA with any potential LNG supplier. The requirements for NEPCO to sign any MSA with a new LNG Supplier are: 1. to have an evidence of supplying 10 cargoes successfully through the last year, 2. to provide the financial statements of the last 3 years. NEPCO is studying the ability to get along without the requirements mentioned above, against obtaining suitable performance guarantee and liability cap.

24 Shell 2016/2017 Contract NEPCO issued another mid-term LNG supply tender (2 years) in July, 2015 and Shell also won the tender through a competition with 14 potential supplier who submit for NEPCO their respectful offers. The contract with Shell has been signed on for supplying NEPCO with tbtu/year in the years 2016&2017.

25 NEPCO LNG in ( ) % 46% 8% 44% 12% 76% 46% 44% SPOT CARGOES SHELL - 5 YEARS SPA SHELL - 2 YEARS CONTRACT

26 MMSCF/d LNG for Electricity in 2016 The average of LNG quantities in LNG Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 86,7% Risha Gas Field Diesel HFO Electrical Interconnection Wind Solar Hydro The average of quantities of LNG was 332 mmscf/d The LNG was contributed around 87% of all power generated in 2016

27 LNG Demand in 2017 Further to Shell LNG supplies for NEPCO, it Expects to have 6 additional cargoes from the spot market next year April-September (i.e. a cargo/month). The tenders will be issued by NEPCO 60 days before cargo required date. The tender documents will sent to all the companies that signed MSA with NEPCO.

28 LNG Plans after 2017 As NEPCO signed an agreement with Shell for , NEPCO may issue a tender in April 2017 for LNG supply in the next year(s). The tender may be for one or two years, for a quantity of TBTU/Year.

29 NEPCO Expected Saving From Using LNG in ( ) Considering the Brent crude is $60 a barrel, the expected saving in the generation cost for NEPCO in the current years due to the LNG Project, will be as follows: $700 $600 $500 $400 $300 $200 $100 $ Cost Saving (million USD)

30 LNG Cooperation with Egypt NEPCO now uses this terminal to help the brotherly Egyptian side to face the shortage of production. Terminal Usage Agreement has been executed between EGAS and NEPCO, and accordingly the reverse flow to Egypt started on So, by reverse flow in the JGTP, NEPCO Shares the available capacity with the Egyptian taking into consideration not to affect fulfilling of Jordan needs. Accordingly, EGAS brought 8 cargoes in 2015 and the same number in 2016 to the Terminal. And Nowadays, we have at least an LNG vessel at the terminal per week.

31 Jordan Industry Needs The estimated need of NG for the industrial sector: Is about 70 mmscft/d. The industry sector in Jordan still need Infrastructure to be able to use the NG which is excepted not to be ready before In Jordan, up to 2022, Fajr Company has the exclusive rights to sell NG in pipelines to any entity consume more than 1000 mmbtu/year. For this purpose, NEPCO executed this year a GSPA with Fajr to sell them the NG from the LNG Terminal, the only available source for gas in Jordan nowadays.

32 THANK YOU.. AHMAD ZUBI

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