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KOGAS’s Technical Capability and Plan on Off-shore Plant Business
KOGAS’s Technical Capability and Plan on Off-shore Plant Business
2017. 11. 1
© Korea Gas Corporation. All rights Reserved Page 1
Tony S. H. KimOff-Shore Plant Development Team
Overseas Plant Business Group
1. LNG Market Trend & FSRU1. LNG Market Trend & FSRU
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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 3rd & 4th Importer • Low Oil Price & Excess of LNG supply make drop in LNG Price.• Therefore, many Countries are considering to import LNG.
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LNG Export Trend
LNG Exporter become diversified- From 8 Country (1996) to 18 Country (2016)
Qatar is still biggest exporter since 2006. Australia become 2nd 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)
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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.- 2015 : Egypt, Jordan. Pakistan- 2016 : Colombia, Jamaica, Malta
© Korea Gas Corporation. All rights Reserved Page 5Over 16,000m3 vessels are counted
Receiving Infrastructure and FSRU
New rising Market apply FSRU/FSU than on-shore terminalNow 23 FSRU/FSU are operating in 17 Countries /Total LNG Import possession by FSRU is 11%
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<New LNG Receiving Terminal Type by year> <FSRU Import by Country>
Since 2008, FSRU/FSU possess 78% for New LNG Infrastructure.
<FSRU Building Trend>
On-Shore Terminal
FSRUs are based on LNG tankers and use essentially the same technology as onshore terminals
On-Shore VS Off-Shore Import Terminal
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Off-Shore Terminal (FSRU)
Off-Shore Terminal (FSRU) On-Shore Terminal
Import LNG
LNG Tank
LNG LP Pump
Recondensor
Recondensor
HP PUMP
Sea Water Pump
On-Shore VS Off-Shore Import Terminal
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LNG HP Pump
Vaporizer
Send Out NG
Sea water PumpLNG Tank
LNG LP PUMPVaporizer
The only difference is that the equipment is marinised to be suitable for shipyard construction and marine operation.
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.
Why FSRU boom?
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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
FSRUStart-Up
2005Gulf Gateway(USA)
2007Petrobras(Brazil)
2009Neptune(Turkey)
FSRU Fleet9
• 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
Major FSRU Owner
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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. ]
Potential LNG Import Infrastructure
FSRU Project OverviewFSRU Project Overview
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LNG Infrastructure project estimated 126, except under Constructing Projects.Over 50% of project are small and medium scale FSRUs for New rising countries.
2. KOGAS’s Technical Capability & Plan
2. KOGAS’s Technical Capability & Plan
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KOGAS Overview
Established in 1983State-run companySecond 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 networkCredit Ratings Aa2 (Moody’s), A+ (S&P), AA- (Fitch)
55% GovernmentOwnership(direct / indirect)
Central Government26.15%
KEPCO 20.47%Local Government 7.93%
Others33.98%
Foreign11.47%
Corporate Philosophy : “Better Energy, Better World”
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Our Experiences and Strengths
ConsultingPMC
Engineering & Design
Construction Management
Our Service experiences Strengths
Accumulated Expertise from 30+ year experience in LNG Terminals
State-of-the-art LNG Storage Tank• 270,000m3 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
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Construction Management
Onshore & Offshore Terminal O&M
LNG Tank Inspectionand Overhaul
In-house R&D, Technical Manpower• Leading technology throughout LNG value chain• Experienced researchers, engineers, and technicians
Project Development• Large & Small scale LNG terminal• FSRU/FSU projects• Value chain integrated projects• Strong Partnership with competitive EPC players
LNG Fleets Operation• Chartered 28 LNG Carriers for dedicated Long term projects
with Competent Korean Shipping companies
LNG Fleet Chartering
CommissioningTraining
Prelude FLNG - Northwest in Australia
- Equity Participation : 10%
- First Production in 2018 Cyprus #2,3,9 Gas Field (Cyprus)
Krueng Mane Gas Field (Indonesia)
Other Marine Project
Coral FLNG (Mozambique)
KOGAS Off-Shore Project Experience
Prelude FLNG & Marine Project
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The World First Floating LNG Facility
East Timor Gas Field (Timor)
Myanmar A-1/A-3 Gas Field (Myanmar)
LNG Value Chain Portfolio
LNG/CNG Lorry
Gas pipelineFSRU/FSU + Regasification
KOGAS Do : Exploration - Production - Liquefaction - Shipping - Regasification - Distribution of Natural Gas
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KSMR:Liquefactionprocess
KC-1: Membrane type cargo
KOGAS’Technologies
Accumulated Expertise from 30-yr History
Engineering/Design, O&M Technology
Exploration &Production Liquefaction Shipping
LNG Receiving RegasificationBunkering
Gas pipelineFSRU/FSU + Regasification
• Base on Accumulated on-shore Terminal experience, KOGAS will enter into Off-shore Plant Projects
Strategic affiliation with Shipping company
LNG Storage Tank
Ship facilities Ship management
Ship FacilitiesShip ManagementBerthing, Mooring
LNG Cargo TankRegasfication UnitJetty Top Side Facility
KOGASOperation & Maintenance
Shipping CompanyShip O&M, Management
KOGAS’s Activities in FSRU Project
LNGC
FSRU
Jetty
RegasficationUnit
LNG Storage Tank
Jetty Top SideFacility
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Berthing,
Mooring
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
1st Phase
(~’18)
• 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
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1st Phase
(~’18)Create Business Base
• 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
2nd Phase
(~’20)
Participate in
Joint Operation
• Find New investment business & Minor equality investment
• Participate in joint operation with Exist FSRU Owner
3rd Phase
(’21~)Leading FSRU Business • Leading role in FSRU Business(Major Shareholder)
Thank you,
FSRU is ready to go with you.
© Korea Gas Corporation. All rights Reserved Page 19
ContactOverseas Plant Project Group, LNG Terminal DivisionKorea Gas Corporation120, Cheomdan-ro, Dong-gu, DaeguTel: +82-53-670-0114, +82-53-670-6572 (direct)E-mail: [email protected]://www.kogas.or.kr
Headquarter Office(Daegu, Korea)