FSRUs & Security of Supply in Israel’s Natural Gas Market · Energy Security for Israel Since...
Transcript of FSRUs & Security of Supply in Israel’s Natural Gas Market · Energy Security for Israel Since...
Copyright Excelerate Energy L.P.
FSRUs & Security of Supply in Israel’s Natural Gas Market
December 2017
Copyright Excelerate Energy L.P. 2
Guanabara Bay Brazil – 2014 Bridging Solution, 2012
GNL Escobar Argentina – 2011
Bahía Blanca GasPort® Argentina – 2008
Northeast Gateway Deepwater Port® USA – 2008
Teesside GasPort® UK — 2007
Mina Al-Ahmadi GasPort® Kuwait – 2009 - 2013
Hadera Gateway Israel – 2012
Gulf Gateway® USA – 2005
Port Qasim Pakistan – 2015
Jebel Ali LNG Terminal Dubai – 2015
Operational
Development & Construction
Decommissioned
Who We Are: Pioneer and industry leader of floating LNG terminal solutions:
• Owner and operator of largest fleet of FSRUs in the world, mooring systems, pipelines and related fixed infrastructure tailored to specific customer needs
• Developed and operated 11 floating regas terminals globally
• Over 28 years providing regasification services without a single day off-hire
• Long-term facilities with operating services and logistics support
• Support services including LNG sourcing, LNG trading and shipping
Aguirre Offshore GasPort® Puerto Rico – 2019
EXCELERATE ENERGY PROJECTS:
Ruwais LNG Abu Dhabi — 2016
Moheshkhali Floating LNG Bangladesh — 2018
Summit LNG Bangladesh — 2018
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Existing Assets – Largest FSRU Fleet
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 960 MMcf/day
Express May 2009 Explorer 150,900 m3 690 MMcf/day
Exquisite October 2009 Explorer 150,900 m3 745 MMcf/day
Expedient April 2010 Explorer 150,900 m3 690 MMcf/day
Exemplar September 2010 Explorer 150,900 m3 690 MMcf/day
Experience May 2014 Experience 173,400 m3 1200 MMcf/day
• Our large fleet offers redundancy,
security of service and
opportunities for bridging solutions
• All FSRUs are purpose-built
• Access to conventional, offshore
and dockside regas terminals
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FSRU Growth and Excelerate’s Market Leadership
• FSRU have become preferred import solutions
• Imported volumes via FSRUs have grown y/y at an average of 32% (2012-2016)
• FSRUs represent low cost, environmentally friendly and timely solutions
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Conventional Capacity FSRU Capacity FSRU as % of Total
EE 48%
Excelerate has established and maintained a dominant position in a rapidly growing FSRU market
EXCELERATE MARKET SHARE
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GLOBAL FSRU IMPORTS GLOBAL LNG IMPORT CAPACITY
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START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:
2012 Israel Consulting Services FSRU, STL Buoy Israel Electric Corporation (IEC) Israel Natural Gas Lines (INGL)
500 MMscf/d
Hadera Gateway
OPERATIONAL TRACK RECORD
• Oct 2017: 5 years of services
• 3.2 Bcf storage capacity
• First on-buoy STS operations
• > 2 MM cbm LNG transferred
• > 1 MT LNG regasified
• > 100% regas availability
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Energy Security for Israel
Excelerate’s FSRU helps support fuel supply gaps when domestic output falls short of demand
• Peak shaving for summer/winter 2012 – to date
• Reactive to market demand − FSRU has sent gas to shore within minutes
• Additional security of supply for the energy sector instead of having to rely on one single source of gas − E.g. the FSRU serves as back-up when Tamar
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OROT RABIN POWER STATION
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LNG: Increasing Flexibility & Security of Supply
• As gas market grows increased LNG imports are anticipated in coming years
• LNG can help bridge the shift from scarcity to abundance of gas
• A predictable, abundant access to natural gas will allow the market to grow
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FSRU as Security of Supply
Tamar Production LNG Imports Spare FSRU Capacity as % Total Cons.
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Energy Security for Israel
Since October 2012, Excelerate’s FSRU:
• Has allowed IEC and the State of Israel to replace dependence on Egyptian natural gas supplies;
• Has provided increased flexibility and security of LNG supply in an innovative, efficient, and reliable manner insuring Israel’s domestic energy needs are met
• E.g. In January 2017, the seas at the terminal reached an approximate height of 7 meters and the FSRU continued providing regasification services uninterruptedly to meet the nomination set by IEC
Since Hadera Deepwater LNG’s start up, IEC has imported over 1 million tons of LNG
regasified by Excelerate’s FSRU
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LNG Driving Growth of Israeli Natural Gas Market
• Natural gas markets tend to grow in a continuous way
• Risk of delays in new production
• LNG imports can play a pivotal role
• LNG fundamentals are very favorable
Growth of NG
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mature market
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ISRAEL NATURAL GAS PRODUCTION / IMPORTS
YT EMG TAMAR LNG New Demand (LNG / New Production)
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Natural Gas Storage Capacity & Consumption
Source: Eurogas, IEA, BP Statistical Review, GIE
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TOTAL STORAGE CAPACITY & NATURAL GAS CONSUMPTION (2015) LNG NG Storage Natural Gas Consumption (bcm)
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NATURAL GAS STORAGE RATIOS: DEMAND IN DAYS TO STORAGE CAPACITY
• Natural gas storage plays critical role in overall system
• Israel’s only natural gas storage comes from the FSRU storage tanks on the FSRU in Hadera
• Storage requirements will vary
• FSRUs provide storage and regasification capability thereby mitigating the threat of any disturbances to the system
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• Excelerate Energy remains committed to our existing partners IEC and INGL and remains committed to creating solutions that will support the development of the Israeli natural gas market
• LNG can help drive the shift from scarcity to abundancy of natural gas
• LNG is not a competitor, but a complement and support to local natural gas
• LNG allows for a seamless transition as and when new gas production comes online
• FSRUs can continue to provide much needed security of supply and assist in development of the market
Conclusions