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The Evolving State of Natural Gas

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Presentation on theme: "The Evolving State of Natural Gas"— Presentation transcript:

1 The Evolving State of Natural Gas
Xiuli Wang XGas December 11, 2012

2 Hydrocarbons remain energy sources
From 2010 to 2035: Global Energy: 35% Increase Fossil Fuels: 76-81% of Total Energy Natural Gas Consumption: 57% (60 Tcf) Increase Hydrocarbons remain energy sources Data source: IEA World Energy Outlook 29 May 2012

3 Future Demand of Natural Gas
Bcm 5,666 4,243 2,833 1,416 Gas demand will grow faster than overall world energy demand Data source: IEA World Energy Outlook 29 May 2012

4 World Natural Gas Reserves vs. Ultimate Recovery
Data source: EIA International Energy Outlook, 2010

5 Where Are the Gas? Data source: BP Statistical Review of World Energy, 2011

6 Top Ten Countries Natural Gas Production & Consumption
Russia uses more NG per capita but less efficient compared with the USA Source: BP Statistical Review of World Energy, June 2012

7 Why Transport Natural Gas?

8 Stranded Gas IHS, EIA, and IEA, 2011

9 World Gas Price Inequality

10 Natural Gas Transportation Modes
Compression Pipeline (~68%): most onland Compressed natural gas (CNG) Convert gas to liquid Liquefied natural gas (LNG) (~32%) Gas-to-liquids (GTL) Key for transportation: reduce gas volume economically

11 Offshore Pipelines Source:

12 Offshore Pipeline Examples
Data source: ENI, Nord Stream, Gazprom

13 Liquefied Natural Gas (LNG)
Volume reduction ~600:1 By -260°F (-162°C ), ~1 atm Development since 1960s Capital investments: Liquefaction and regasification terminals (~60%) LNG ships (~40%) Energy-intensive Energy-efficiency improving LNG: loss about 25% of gas.

14 Recent World Gas Activities
Source: aerogel.com

15 Recent Important Gas Movements
Shale in U.S.: export LNG to Japan, China, Spain, and France. Fukushima Nuclear Accident (2 June 2011)

16 U.S. Natural Gas Production
U.S. Natural Gas Production, Tcf Percentage US shale gas - surprising in both size and productivity Data source: EIA. Annual Energy Outlook 2012

17 Proposed LNG Export Terminals in North America, May/2012

18 LNG Cost Examples Cost of delivered LNG from Sabine Pass to Europe/Americas & Asia = $8 - $10 / MMBtu. Data source: Cheniere, February 2012

19 Gas Discoveries in Israel and Cyprus
By Woodside's estimates, the Leviathan field contains around 17 trillion cubic feet of recoverable natural gas, making it among the largest recent finds in the world. Read more: (17-20 Tcf)

20

21 Gas Discoveries in Mozambique
Mozambique: Natural Gas Discoveries Put East Africa on World Energy Map Source: ENI

22 Compressed Natural Gas (CNG)
Volume reduction ~200:1 At 200 atm (3,000 psi), ambient temperature. At 140 atm (2,000 psi), 0 oF (-18 oC ). Capital investment example: For 100 MMscf/d (or 2.8 MMcm/d ), 100 miles, capital cost: $250 million, tariff: $3.2/MMBtu. 16 m 16 m 16 m 16 m

23 New Generation of CNG with Composite Containment
SPE

24 New Efficient and Scalable Ship Design
Roll On/Off Tug & Barge Container Carrier CNG Ship Up to 600 MMscf Up to 25 MMscf Up to 800 MMscf Composite material – 60% lighter than steel and much stronger. Containment - larger diameter. Shrinkage: ~400:1. Higher ship design efficiency.

25 Containment System Capable of Carrying Raw Gas
Liner Wrapping Metal Coating Liner: Anti-corrosion coating – handle raw gas with H2S. Opportunities: Midstream - Monetize stranded gas. Upstream - Enhance oil production through raw gas disposal. Smaller and lighter ships carry more amount of gas with less cost, SPE

26 Gas-to-Liquids (GTL) Volume reduction: >700:1
Requires large capital investments Qatar: major player Likely to account for small percentage of natural gas consumed GTL: chemical conversion – loss gas during conversion

27 Options for Monetizing Stranded Gas

28 Conclusions Gas Demand Projection to 2035: sharply elevated.
Monetize stranded gas: transportation optimization is the key. Pipelines and LNG: continue to grow and play a vital role. New generation of CNG: allow the gathering raw gas from offshore location.

29 Questions?


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