KOGAS s Technical Capability and Plan on Off-shore Plant Business

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1 KOGAS s Technical Capability and Plan on Off-shore Plant Business Tony S. H. Kim Off-Shore Plant Development Team Overseas Plant Business Group Korea Gas Corporation. All rights Reserved Page 1

2 1. LNG Market Trend & FSRU Korea Gas Corporation. All rights Reserved Page 2

3 LNG Import Trend Huge Increase in Asia & Middle East region - From 74 Mil Ton with 9 Country (1996) to 264 Mil Ton with 39 Country (2016) Asia is the Biggest Importer(73%). China and India become 3 rd & 4 th Importer Low Oil Price & Excess of LNG supply make drop in LNG Price. Therefore, many Countries are considering to import LNG. Korea Gas Corporation. All rights Reserved Page 3

4 LNG Export Trend LNG Exporter become diversified - From 8 Country (1996) to 18 Country (2016) Qatar is still biggest exporter since Australia become 2 nd Exporter Due to New LNG Supply(US, Australia) and reduced demand on Main importer(japan, Korea), Expect constant Buyer s market! With US shale gas Contracts(About 96 MTPA) Korea Gas Corporation. All rights Reserved Page 4

5 LNG Ship Trend Huge Increases on LNG Vessels - From 127 vessels (2000) to 455 vessels (2016), Exceed Quadruple Demand for FSRU/FSU is also growing on New rising Country : Egypt, Jordan. Pakistan : Colombia, Jamaica, Malta Korea Gas Corporation. All rights Reserved Page 5 Over 16,000m3 vessels are counted

6 Receiving Infrastructure and FSRU New rising Market apply FSRU/FSU than on-shore terminal Now 23 FSRU/FSU are operating in 17 Countries /Total LNG Import possession by FSRU is 11% <New LNG Receiving Terminal Type by year> <FSRU Building Trend> <FSRU Import by Country> Since 2008, FSRU/FSU possess 78% for New LNG Infrastructure. Korea Gas Corporation. All rights Reserved Page 6

7 On-Shore VS Off-Shore Import Terminal FSRUs are based on LNG tankers and use essentially the same technology as onshore terminals On-Shore Terminal Off-Shore Terminal (FSRU) Korea Gas Corporation. All rights Reserved Page 7

8 On-Shore VS Off-Shore Import Terminal Off-Shore Terminal (FSRU) On-Shore Terminal Import LNG Sea Water Pump LNG Tank LNG LP Pump Recondensor HP PUMP Recondensor LNG HP Pump Vaporizer Sea water Pump LNG LP PUMP Vaporizer Send Out NG LNG Tank The only difference is that the equipment is marinised to be suitable for shipyard construction and marine operation. Korea Gas Corporation. All rights Reserved Page 8

9 Why FSRU boom? Speed to Market : FSRU Project typically take less than 24 months to execute, implemented in 6 months - Land Based terminal normally takes 5 ~ 6 years (for Planning, siting, permitting and constructing) - FSRU provide fast solution who want to change thermal to LNG Power Plant for Environmental needs. Reduced Cost : FSRUs are less capital intensive than land based LNG Terminal. With lower cost base, smaller markets can be developed for LNG imports. Great Cost Certainty : Since FSRUs are built in shipyard on a fixed cost and delivery date, importer has great clarity on cost and timing Market Flexibility : FSRUs can easily be moved from one location to another, if there has demand change. Also can be swapped to larger or smaller units. *FSRU Technology represents a flexible, proven, fast track and Cost effective means of allowing countries or Region to store and import LNG Korea Gas Corporation. All rights Reserved Page 9

10 Major FSRU Owner FSRU Start-Up 2005 Gulf Gateway(USA) 2007 Petrobras(Brazil) 2009 Neptune(Turkey) FSRU Fleet 9 7 FSRU in operation 2 For LNG Carrier 7 6 FSRU in operation Will Supply 1 FSRU to Ghana1 6 5 FSRU in operation 1 For LNG Carrier Shipyard DSME Samsung Shipyard Samsung Shipyard, HHI Market Share (base on Send out Capacity) 48% 22% 14% With LNG vessel operation experience, Shipping Companies push ahead FSRU. [BW(Singapore), MOL(Japan), GasLog(Monaco), etc. ] Base on on-shore Terminal experience, Energy Companies also enter into FSRU Project [Gazprom(Russia), Engie(France), etc. ] Korea Gas Corporation. All rights Reserved Page 10

11 Potential LNG Import Infrastructure FSRU Project Overview LNG Infrastructure project estimated 126, except under Constructing Projects. Over 50% of project are small and medium scale FSRUs for New rising countries. Korea Gas Corporation. All rights Reserved Page 11

12 2. KOGAS s Technical Capability & Plan Korea Gas Corporation. All rights Reserved Page 12

13 KOGAS Overview Corporate Philosophy : Better Energy, Better World Established in 1983 State-run company Second largest Importer in the world (31.8 mil ton in 2016) World-largest LNG regasification terminals(4 terminal with 72 tanks) About 5,000 km-long nationwide pipeline network Credit Ratings Aa2 (Moody s), A+ (S&P), AA- (Fitch) Others 33.98% Foreign 11.47% Central Government 26.15% 55% Government Ownership (direct /indirect) KEPCO 20.47% Local Government 7.93% Korea Gas Corporation. All rights Reserved Page 13

14 Our Experiences and Strengths Our Service experiences Consulting PMC Engineering & Design Construction Management Onshore & Offshore Terminal O&M Commissioning Training LNG Tank Inspection and Overhaul LNG Fleet Chartering Strengths Accumulated Expertise from 30+ year experience in LNG Terminals State-of-the-art LNG Storage Tank 270,000m 3 capacity saves your budget & plottage Membrane/9% Nickel, above/on/in-ground tanks are in operation In-house R&D, Technical Manpower Leading technology throughout LNG value chain Experienced researchers, engineers, and technicians LNG Fleets Operation Chartered 28 LNG Carriers for dedicated Long term projects with Competent Korean Shipping companies Project Development Large & Small scale LNG terminal FSRU/FSU projects Value chain integrated projects Strong Partnership with competitive EPC players Korea Gas Corporation. All rights Reserved Page 14

15 KOGAS Off-Shore Project Experience Prelude FLNG & Marine Project Prelude FLNG Other Marine Project - Northwest in Australia Coral FLNG (Mozambique) - Equity Participation : 10% - First Production in 2018 Cyprus #2,3,9 Gas Field (Cyprus) Krueng Mane Gas Field (Indonesia) East Timor Gas Field (Timor) The World First Floating LNG Facility Myanmar A-1/A-3 Gas Field (Myanmar) Korea Gas Corporation. All rights Reserved Page 15

16 LNG Value Chain Portfolio KOGAS Do : Exploration - Production - Liquefaction - Shipping - Regasification - Distribution of Natural Gas LNG/CNG Lorry FSRU/FSU + Regasification Gas pipeline Exploration & Production Liquefaction Shipping KOGAS Technologies KSMR: Liquefaction process KC-1: Membrane type cargo Bunkering LNG Receiving Regasification Accumulated Expertise from 30-yr History Engineering/Design, O&M Technology Base on Accumulated on-shore Terminal experience, KOGAS will enter into Off-shore Plant Projects Korea Gas Corporation. All rights Reserved Page 16

17 KOGAS s Activities in FSRU Project Strategic affiliation with Shipping company LNG Cargo Tank Regasfication Unit Jetty Top Side Facility KOGAS Operation & Maintenance Ship Facilities Ship Management Berthing, Mooring Shipping Company Ship O&M, Management LNG Storage Tank Ship facilities Ship management FSRU Regasfication Unit Jetty Top Side Facility Jetty Berthing, Mooring LNGC Korea Gas Corporation. All rights Reserved Page 17

18 FSRU Project entry Strategy Based on O & M experiences for World-largest LNG regasification terminals and Utilizing Brand Power, High credit rate, KOGAS will advance overseas Off-shore plant project. Build sustainable future Growth model Phase Main Goal Progress Plan 1 st Phase (~ 18) 2 nd Phase (~ 20) Create Business Base Participate in Joint Operation KOGAS-Shipping Company Collaboration Build-up (Business & Technical information) Network Build-up - Business Cooperation with International financial company - Collaboration Build-up with Shipyard, Class, Engineering Company Push forward Technical Business Work on Exist & New investment business Find New investment business & Minor equality investment Participate in joint operation with Exist FSRU Owner 3 rd Phase ( 21~) Leading FSRU Business Leading role in FSRU Business(Major Shareholder) Korea Gas Corporation. All rights Reserved Page 18

19 FSRU is ready to go with you. Thank you, Headquarter Office (Daegu, Korea) Contact Overseas Plant Project Group, LNG Terminal Division Korea Gas Corporation 120, Cheomdan-ro, Dong-gu, Daegu Tel: , (direct) Korea Gas Corporation. All rights Reserved Page 19

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