Post on 31-Jan-2018
Copyright Excelerate Energy L.P.
Excelerate Energy: Efficient And Cost-Effective Solutions for the Global Gas Market
14 January 2014
Copyright Excelerate Energy L.P. 2
Who We Are:
Pioneer and world leader in innovative LNG midstream solutions.
• Commercial control of approx. $3 billion in assets
• Developer of floating liquefaction and regasification LNG solutions
• Active LNG trading and chartering functions
• Eight floating storage and regasification units (FSRUs), one LNGC, and one FSRU under construction
• 100% owned and controlled by George B. Kaiser
• Comprehensive experience from design through operations
• Real-world operational knowledge applied to all project phases
Copyright Excelerate Energy L.P. 3
Largest fleet of FSRUs in the industry.
VESSEL DELIVERY DATE CLASS CAPACITY PEAK SENDOUT
Excalibur October 2002 LNGC 138,000 m3 –
Excelsior January 2005 Excelsior 138,000 m3 690 MMcf/day
Excellence May 2005 Excelsior 138,000 m3 690 MMcf/day
Excelerate October 2006 Excelsior 138,000 m3 690 MMcf/day
Explorer March 2008 Explorer 150,900 m3 690 MMcf/day
Express May 2009 Explorer 150,900 m3 690 MMcf/day
Exquisite October 2009 Explorer 150,900 m3 690 MMcf/day
Expedient April 2010 Explorer 150,900 m3 690 MMcf/day
Exemplar September 2010 Explorer 150,900 m3 690 MMcf/day
Hull No. 2402 May 2014 Experience 173,400 m3 800 MMcf/day
• Our large fleet offers redundancy,
security of service and
opportunities for bridging solutions
• All FSRUs are purpose-built
• In addition to the existing fleet,
Excelerate Energy has secured
shipyard slot options.
• Access to conventional, offshore
and dockside regas terminals
Copyright Excelerate Energy L.P. 4
STS Transfer of LNG
• Industry leader
• Most LNG STS experience in the industry
• Developed the procedures that are now the guidelines for the industry
STS - Summary as of: 01/10/14
Operation Count Total (CuM)
Open Water 15 1,624,521
Gas In / Cool Down 3 25,572
In Port
Double Banking 304 29,069,973
Tandem - Along Dock 142 18,791,668
Across Dock 74 7,787,216
Total 538 57,298,950
Operator Count Total (CuM)
EE Vessels 79 7,981,615
3rd Party Vessels 459 49,317,335
Total 538 57,298,950
Copyright Excelerate Energy L.P. 5
LNG Trading & Marketing
• Commercially-minded fleet operations
• Established trading team with global relationships− 70+ Master Sales & Purchase Agreements with
key market participants
− Offices in Houston, London, and Singapore with a combined 50+ years of direct LNG marketing and trading expertise
− In-house market fundamentals and financial trading capabilities
− Established contractual framework for long term FOB and Tolling Structures
• Commercial experience across the LNG value chain 0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
2005 2006 2007 2008 2009 2010 2011 2012
MM
t
EXCELERATE TRADING AND CHARTERING ACTIVITY*
* EE has traded 5.6 million tonnes of LNG and completed 66 charters
Copyright Excelerate Energy L.P. 6
Financial Strength
• Excelerate Energy has access to substantial capital and support —making development opportunities possible for the company.
• Excelerate Energy has commercial control of $3 billion in assets
• George B. Kaiser 100% Shareholder− Chairman of Bank of Oklahoma Financial
− Principal owner of Kaiser-Francis Oil - one of the largest private energy producers in the United States
− Active in the oil and gas sector, including upstream exploration, gas marketing, oil field services, contract drilling and commodity trading.
− Net worth $10 Billion
− #40 in Forbes 400 Wealthiest Americans (2013)
Copyright Excelerate Energy L.P. 7
FSRU Advantages
• A floating regasification solution is more cost effective per MMbtu than a traditional land-based solution
• Requires less land use
• Reduced design time
• Quick identification of long-lead items
• Rapid identification of project risks
• Accurate cost estimates
COST EFFECTIVE MINIMAL FOOTPRINT
EXCELERATE’S FSRU EXPERIENCE
• A floating solution can be implemented in 1-3 years vs. land-based in 4-6 years
TIME EFFICIENT
Copyright Excelerate Energy L.P. 8
Proven ExperienceWith more than 10 years of integrated technical, business development, project execution, and operation experience, we are unrivaled in our ability to respond quickly to our partners’ needs.
Northeast Gateway Deepwater Port® USA — 2008
Aguirre Offshore GasPort®Puerto Rico — 2015
VT3Brazil — 2014
GNL EscobarArgentina — 2011
Bahía Blanca GasPort®Argentina — 2008
Lavaca Bay LNGUSA — 2018
Teesside GasPort®UK — 2007
Mina Al-Ahmadi GasPort®Kuwait — 2009 - 2013
Hadera GatewayIsrael— 2012
Gulf Gateway®USA — 2005
Operational Under Development Decommissioned
Bridging Solution, 2012
Copyright Excelerate Energy L.P. 9
START UP: DECOMMISSIONED: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:
2005 2012 USA EPC, Commissioning,Operator
FSRU, Buoy Excelerate 500 mmscf/d
Gulf Gateway®
Copyright Excelerate Energy L.P. 10
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:
2007 UK EPC, Commissioning, Operator FSRU, HP Gas Arm, Nitrogen Blending
Excelerate 400 mmscf/d
Teesside GasPort®
Copyright Excelerate Energy L.P. 11
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:
2008 USA EPC, Commissioning, Operator FSRU, Buoy Excelerate 600 mmscf/d
Northeast Gateway ®
Copyright Excelerate Energy L.P. 12
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:
2008 Argentina Integrated Project Team, CommissioningOperator Training
FSRU, HP Gas ArmControl System
Repsol-YPF 500 mmscf/d
Bahía Blanca GasPort®
Copyright Excelerate Energy L.P. 13
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:
2009 Kuwait EPC, Commissioning, 1st Year Operations
FSRU, HP Gas Arm, Control System, Cryogenic Transfer System
Kuwait National Petroleum Company (KNPC)
500 mmscf/d
Mina Al-Ahmadi GasPort®
Copyright Excelerate Energy L.P. 14
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:
2011 Argentina Strategic Partner, Commissioning, Operator Training
FSRU, HP Gas ArmControl System
JV Repsol-YPF 500 mmscf/d
GNL Escobar
Copyright Excelerate Energy L.P. 15
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:
2012 Israel Consulting Services FSRU, STL Buoy Israel Electric Corporation Israel Natural Gas Lines
500 mmscf/d
Hadera Gateway
Copyright Excelerate Energy L.P. 16
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:
2014 Brazil Strategic Partner, FSRU Construction , Commissioning. Provided bridging FSRU in 2012
173K FSRU Petrobras 800 mmscf/d
VT3 − Guanabara Bay
Copyright Excelerate Energy L.P. 17
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:
2015 Puerto Rico Owner & Permitting, EPC with Cost Pass-Through, Commissioning
HP Gas Arm, Control & Transfer Systems, Sea Island Infrastructure
Puerto Rico Power Authority (PREPA)
400 mmscf/d
Aguirre Offshore GasPort®
Copyright Excelerate Energy L.P. 18
History of InnovationAt Excelerate Energy, we think of ourselves as a work in progress, constantly evolving to meet the changing needs of our customers and the markets we serve.
“World’s First Commercial LNG Ship-to-Ship Transfer”FEBRUARY 2007
“World’s First Regas Vessel” Excelsior DeliveredJANUARY 2005
Excelerate Energy FormedJULY 2003
“World’s First Deepwater LNG Port” Gulf Gateway Commissioned
MARCH 2005
“World’s First GasPort” Teesside GasPort Completed
FEBRUARY 2007
“Middle East’s First LNG Importation Facility” Mina Al Ahmadi GasPort Commissioned
AUGUST 2009
“South America’s First LNG Import Facility” Bahía Blanca GasPort Commissioned
JUNE 2008
“First LNG Facility on the US East Coast in 30 Years” Northeast Gateway Commissioned
MAY 2008
“World’s First At-the-Dock LNG STS Transfer” Bahía Blanca GasPort
JUNE 2008
“100th Ship-to-Ship Transfer of LNG” Over 12,600,000 m3 of LNG transferred
APRIL 2011
500th STS Transfer of LNGSEPTEMBER 2013
“Argentina’s Second LNG Importation Facility” Escobar GasPort Commissioned
JUNE 2011
“Israel’s First LNG Importation Facility” Hadera Gateway Commissioned
JANUARY 2013
Excelerate Energy First Cargo DeliveredJANUARY 2005 “World’s Largest FSRU” VT3*Contract ExecutedAUGUST 2011
19Copyright Excelerate Energy L.P. 19
Black Sea
Cyprus
Floating Liquefaction Opportunities Under Consideration + > 1 Project being prosed
3 Floating Liquefaction Terminals Sanctioned
Israel
Alaska
U.S. GOM
British Columbia
Brazil
Colombia
West Africa
East Africa
Malaysia
Indonesia
Australia
+
Floating Liquefaction Taking Root
+
+
+
+
20Copyright Excelerate Energy L.P. 20
FLSO Advantages
• Lower capital cost and shorter time to market than comparable land-based alternatives
• Early gas and/or LNG monetization
• 45 months FID to commercial operations
• Greater cost control with construction in a controlled shipyard environment
• Minimization of fixed infrastructure and overall environmental impacts
• Beneficial for conventional or stranded reserves
• Modular design
• Mobility allows movement between multiple reserves over a project’s life
VALUE DRIVEN MINIMAL FOOTPRINT
DESIGN FLEXIBILITY
21Copyright Excelerate Energy L.P. 21
FLSO™Floating Liquefaction Storage Offloading Vessel
• Concept Study Phase – 2007/2008 − Studies undertaken to test the viability of concept
• Pre FEED Phase – 2008/2009− Range of gas compositions studied by Black & Veatch
− Costs for various throughput capacities developed
• Specification / Indicative Pricing Phase – 2009− Developed hull and topside specifications
− Solicited 4 Korean shipyards for indicative pricing
• 3 MTPA Generic FEED Phase – 2010− Managed FEED contracts with Samsung and B&V
− Over 90,000 manhours/850 engineering deliverables
• 4 MTPA Project Specific FEED Phase – 2012/13− Conducted site specific FEED for Lavaca Bay
− Over 85,000 manhours / 975 engineering deliverables
2010 Generic FEED - 3 MTA FLSO –Topside View
2010 Generic FEED - 3 MTA FLSO –Side-by-Side
22Copyright Excelerate Energy L.P. 22
Design Alternatives
• Design alternatives evaluated during pre-FEED include:
− Range of Liquefaction Technology
− SPB Cargo Containment vs. Membrane
− Range of liquefaction capacity 0.6 to 3.0 mtpa
− Range of LNG storage tank capacity from 125K to 250K m³
− Conversion of an existing vessel vs. new construction
− Gas turbine power vs. diesel power
− Mooring and offloading options
22
23Copyright Excelerate Energy L.P. 23
Generic Approach
Floating Liquefaction Storage Offloading (FLSO) vessel with 3 MTPA of LNG production and 250,000 m³ of LNG storage capacity capable of working offshore and near shore
• Fits into a standard shipyard slot
• Black & Veatch’s PRICO® process, using three 1.0 MTPA trains
– Small footprint, simple design and ease of operation
• GTT’s Mark III membrane containment system
– 2 row X 5 tank configuration with centerline cofferdam
• Mooring options:
– Turret system, “Sea-Island” configuration, and Dockside
24Copyright Excelerate Energy L.P. 24
The FLSO
Offshore / Near Shore / At-shore
Liquefaction Modules (3 x 1.0 MTA)
Pre-treatment Gas-Processing
Power Generation and Controls
Final Dehydration and Fraction Module
LNG Loading Arms
3 MTA / 250,000 m3 Excelerate FLSO
Flare
Accommodations
HelipadSwitchgear Room
Workshop
Boil-off Gas Module
25Copyright Excelerate Energy L.P. 25
Lavaca Bay LNG Project
Copyright Excelerate Energy L.P. 26
On-Shore Infrastructure
• Separation and compression
• Feed gas pre-treatment (H2O, CO2, Hg, H2S removal)
• Condensate storage – truck loading
• On-shore utilities
• Waste water treatment
Copyright Excelerate Energy L.P. 27
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
BC LNG (0.9MMt/y)
EE Lavaca (4.4MMt/y)
Magnolia LNG (4MMt/y)
Sabine PassPhase 2 (9
MMt/y)
Corpus Christi(16 MMt/y)
Sabine PassPhase 1 (9
MMt/y)
Cameron (12MMt/y)
Freeport LNG(13.2 MMt/y)
Cove Point (5MMt/y)
Goldboro LNG(10 MMt/y)
Kitimat Phase 1(5 MMt/y)
NORTH AMERICA PROPOSED LIQUEFACTION PROJECTS
FLSO versus Onshore Liquefaction
Comparison of cost/ton per year across several liquefaction projects in North America (excluding costs associated with financing)
Lavaca Bay provides a very economical North American
LNG supply for offtakers.
Source: Excelerate Energy
Copyright Excelerate Energy L.P. 28
Key Project Components
• Tolling Facility
• 29-Mile Pipeline Header with up to 9 interconnects
• On-shore facility including power generation
• 1 - 2 FLSO units capable of producing an excess of 8 MTPA (nameplate) of LNG for export
• 26-Mile Matagorda Ship Channel Improvement
29Copyright Excelerate Energy L.P. 29
Positive Progress
• Received Approval to Proceed with FEED – May 2012
• Received DOE Export License for 10 MTPA to FTA Countries – 9 August 2012
• Export License for 10 MTPA to Non-FTA Countries applied – 5 October 2012
• Carried out Initial Consultation Meeting with FERC – 17 October 2012
• Applied to FERC to initiate Pre-Filing process – 5 November 2012
• Received FERC approval to start Pre-Filing process – 20 November 2012
• Completion of FEED effort – 7 February 2013
• Completion of FERC Pre-Filing process – January 2014*
• Completion of FERC NEPA process – Q4 2014*
• FID – Q4 2014*
• Start Up – Q4 2018*
*Project goals
Copyright Excelerate Energy L.P. 30
FLSO FEED
• Dock-side application required revisions to the base 3.0 MTPA design
• Design changes include:− Removal of gas processing modules to shoreside location
− Removal of FW/SW heat exchangers from FLSO to shoreside location
− Addition of fourth 1.0 MTPA liquefaction train
− Modification of final dehydration and fractionation modules onboard
− Removal of thrusters
− Conversion of condensate storage tank and turret space into voids
− Revisions to material handling plan incorporating shoreside crane capabilities
− Addition of enhanced shoreside mooring capabilities to withstand 100-year return storm conditions
Copyright Excelerate Energy L.P. 31
4.4 MTPA FLSO – Dockside Application
Power and Utilities
Liquefaction Modules
LNG Transfer
BOG Management
Gas processing on-shore
Copyright Excelerate Energy L.P. 32
FLSO Particulars
Liquefaction Capacity: 4.4 MTPA
Storage Capacity:LNG Storage
250,000 m3
Feed Gas Requirement (FLSO & pre-treatment)*: ≈ 730 mmscfd
Total Gas Consumed (FLSO & pre-treatment)*: 11.82% of Feed Gas
Dimensions:Length OverallBreadthDepth Design Draft
338.0 m62.0 m33.4 m15.0 m
Weight:Full Load DisplacementDeadweight
281,992 T170,979 T
Accommodations:Estimated Crew Size
100 Persons70 to 75 Persons
* Feed Gas Requirement includes Fuel Gas for Power Generation, and is dependent on composition of feed gas. Does not include fuel gas for compression (estimated at 0.5% of feed gas requirement)
Copyright Excelerate Energy L.P. 33
Site Selection
• “Greenfield” site located on the Southern peninsula near the Port of Port Lavaca – Point Comfort, Texas
• Advantages to this site:− Project friendly area – industrial site near ALCOA and
Formosa Plastics facilities
− ≈5 bcf of pipeline capacity nearby
− Previously permitted by the Federal Energy Regulatory Commission (FERC)
− Commercially attractive site with expansion potential for a second unit
Copyright Excelerate Energy L.P. 34
Site Location
PlannedLiquefaction Site
Copyright Excelerate Energy L.P. 35
Lease and Permitting
• Lease agreement
− Secured lease with the Calhoun Port Authority for approximately 110 acres in January 2012
• FERC – Section 3 (Terminal) and Section 7 (Pipeline Header System)
− Filing to include up to two(2) 4.4 MTPA FLSO units
− Commenced pre-filing process in November 2012
− Expected to file in January 2014
− Expected to receive final Authorization to Proceed Q4 2014
• Dredging− Matagorda Ship Channel will need to be deepened and widened to accommodate LNGCs calling on the facility
− Using existing United States Army Corps of Engineers (USACE) permit allowing channel to be deepened to 45 feet and widened to 350 feet
− Applying for assumption of maintenance by the USACE for the Matagorda Ship Channel prior to construction
− Pursuing a new permit to accommodate dredging of the FLSO berthing areas
Copyright Excelerate Energy L.P. 36
Status of Non-FTA Export License ApplicationsORDER COMPANY VOLUME (BCF/D) DOE FILED FERC PRE-FILING COMMENCED
1 Sabine Pass Liquefaction, LLC* 2.2 11-Aug-10
2 Freeport LNG Expansion, L.P. and FLNG Liquefaction, LLC* 1.4 17-Dec-10 5-Jan-11
3 Lake Charles Exports, LLC* 2 6-May-11 6-Apr-12
4 Dominion Cove Point LNG, LP* 1 3-Oct-11 26-Jun-12
5 Freeport LNG Expansion, L.P. and FLNG Liquefaction, LLC* 1.4 19-Dec-11 5-Jan-12
6 Cameron LNG, LLC 1.7 21-Dec-11 9-May-12
7 Jordan Cove Energy Project, L.P. 1.2 23-Mar-12 6-Mar-12
8 LNG Development Company, LLC (d/b/a Oregon LNG) 1.25 16-Jul-11 16-Jul-12
9 Cheniere Marketing, LLC 2.1 31-Aug-12 22-Dec-11
10 Excelerate Liquefaction Solutions I, LLC 1.38 5-Oct-12 20-Nov-12
11 Carib Energy (USA) LLC 0.04 20-Oct-12
12 Gulf Coast LNG Export, LLC (Freeport 2) 2.8 10-Jan-12
13 Southern LNG Company, L.L.C. (Elba Island) 0.5 31-Aug-12
14 Gulf LNG Liquefaction Company, LLC (Pascagoula) 1.5 31-Aug-12
15 CE FLNG, LLC 1.07 21-Sep-12
16 Golden Pass Products LLC 2.6 26-Oct-12
17 Pangea LNG (North America) Holdings, LLC 1.09 19-Dec-12
* Received FTA and Non-FTA authorization to export
DOE will begin processing all long-term applications to export LNG to non-FTA countries in the following order:
1. All pending DOE applications where the applicant has received approval (either on or before December 5, 2012) rom the Federal Energy Regulatory Commission (FERC) to use the FERC pre-filing process, in the order the DOE application was received.
2. Pending DOE applications in which the applicant did not receive approval (either on or before December 5, 2012) from FERC to use the FERC pre-filing process, in the order the DOE application was received.
3. Future DOE applications, in the order the DOE applications are received.
Copyright Excelerate Energy L.P. 37
Availability of Pipeline Quality Gas
• Availability of pipeline quality gas is a key driver of the project
• An extensive analysis of the pipeline network was carried out
• 9 candidate pipelines have been identified
• 29.2 mile, 42-inch pipeline header system to be developed
Copyright Excelerate Energy L.P. 38
New and Innovative Ways
Copyright Excelerate Energy L.P. 39
Commercial Benefits – FLSO/OPTI
• Capex savings > $1 billion ($850-950/tonne)
• 25% increased throughput on FLSO (4+ MTA)
• Improved gas processing on Opti (motions)
• FLSO-45 mos. FID to Commercial Operations
• Opti-36 mos. FID to Commercial Operations
• Early gas and/or LNG monetization
• Third party institutions are attracted to financeability
• “Opti is fast, flexible, affordable, and can be moved”
• Early cash flow to the Partners and the State of Israel
COST SCHEDULE
FINANCEABILITY
• Integration of Opti enables a “Hub and Spoke” option
• Flexibility – Early pipeline to shore plus FLSO(s)
• Enable offloading optimization due to offshore environs
EXPANSION