Scaling down LNG. Mariana Ortiz Laborde. Gas Natural Fenosa. Portfolio Manager at Global Gas Division

Transcription

1 Scaling down LNG Mariana Ortiz Laborde Portfolio Manager at Global Gas Division Gas Natural Fenosa Executive Committee Workshop March 30, 2017, Muscat, Oman

2 Disclaimer This presentation and the information herein contained is Gas Natural Fenosa ( GNF ) property. Although GNF has taken all reasonable care to ensure that the information herein is accurate and correct, no representation, warranty or undertaking, express or implied, is given by or on behalf of GNF or any other person as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein or any other material discussed at the presentation. This presentation may include forwardlooking statements that reflect GNF's intentions, beliefs or current expectations, Such statements are made on the basis of assumptions and expectations that GNF currently believes are reasonable, but could prove to be wrong. Any forward-looking statements made by or on behalf of the Company speak only as at the date of this presentation Copyright Gas Natural SDG, S.A. 1

3 GNF s snapshot

4 Gas Natural Fenosa Presence in more than 30 countries 1. Figures 31/12/15 3

5 Gas Natural Fenosa Present in more than 30 countries Presence in more than 30 countries 1. Figures 31/12/15 4

6 Gas Natural Fenosa Diversified supply & demand portfolio GNF s gas positions 2015 Presence in more than 30 countries 27 Bcma GNF s Gas Supplies 2015 Pipeline: Algeria and Norway LNG Atlantic: Trinidad and Nigeria Middle East LNG: Qatar and Oman GNF s Gas Markets 2015 Spain ~16 Bcma Europe ~ 4,5 Bcma Source of natural gas (includes UFGAS) Current Markets # Gas sources # Gas markets 6 14 LNG Rest of World ~ 6,5 Bcma 5

7 Gas Natural Fenosa Fleet & new LNG supply Future procurement contracts GNF s fleet of LNG carriers (k m 3 ) Origin Start date Duration ACQ 1 Presence in more than Cheniere I (USA) 30 Cheniere II (USA) Yamal (Russia) countries Y ~ Y Y 3.2 LNG (k m 3 ) #8 #13 Shah Deniz (Azerbaijan) Y 1.0 NG 500 Cheniere I&II contracts includes indexation to Henry Hub no restrictions on destination Yamal and Shah Deniz combine indexations to oil and indexes E Long term chartered Short term chartered Potential short term chartered FSRU Note: Annual Contract Quantity (in bcm/year) 6

8 LNG Scaling Down 2

9 MMt LNG Market New importers LNG imports by year by of year entry of into entry LNG market into the market s 2000s 1990s 1980s 1970s 1960s Source: OIES with Platts, EIA, Argus CME Source: IHS Waterborne LNG, IHS Energy 2016 IHS Approximately one third of the 2015 LNG demand came from importers that entered the market in 2000 More demand can be atracted thanks to competitiveness, more flexible contracts and light asset chains 8

10 LNG Market New importers will increase demand Source: Wood Mackenzie Source: Wood Mackenzie 9

11 # of countries LNG Market Light asset chains as favourite option FSRUs are less costly that onshore facilities FSRUs projects come online faster than bigger facilities Allow deployment of natural gas applications without an extensive infrastructure Type of importing facilities LNG: Rise of FSRUs among import markets FSRU-only importers Both onshore & FSRU Onshore-only importers Source: IHS Energy 2016 IHS Excellent platform for seeking new demand!! 10

12 LNG Market FSRUs are the third largest importer of LNG Source: Wood Mackenzie Source: Wood Mackenzie 11

13 Drivers for new LNG Demand Example: Africa Limited options for increasing natural gas supply Access to bunkering services Diversification of sources of energy Usage of LNG for developping the natural gas system to take advantage of future indigenous resources LNG can contribute to comply with the energy trilemma (sustainable, affordable & secure) 12

14 Drivers for new LNG Demand Example: Europe Diversification of natural gas sources providing an increased SoS Increase competition LNG-pipe through the creation of new hubs 13

15 Options for new LNG Demand Small Scale applications LNG can be transported by trucks to Satellite LNG Plants or industrial clients 14

16 Options for new LNG Demand Small Scale advantages Allows to transport the gas natural to anywhere in the country without investing in pipeline network Does not require large investments and it has very competitive operating/maintenance costs Creates natural gas demand before the development of large gas infrastructure in the region Technologies tested and proved in mature markets as in Spain 15