Evolution in LNG Address to Institute of Energy Economics ...eneken.ieej.or.jp/data/3979.pdf ·...
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GLNG FID signing ceremony, 13 January 2011 GLNG FID signing ceremony, 13 January 2011 L to R: Mike Sangster (Total), Heung Bog Lee (KOGAS), David Knox L to R: Mike Sangster (Total), Heung Bog Lee (KOGAS), David Knox , Datuk Anuar Ahmad (PETRONAS) , Datuk Anuar Ahmad (PETRONAS) Evolution in LNG Address to Institute of Energy Economics Japan Peter Cleary, VP Corporate Strategy & Development, Santos 19 July 2011 IEEJ: July 2011
Transcript of Evolution in LNG Address to Institute of Energy Economics ...eneken.ieej.or.jp/data/3979.pdf ·...
GLNG FID signing ceremony, 13 January 2011GLNG FID signing ceremony, 13 January 2011L to R: Mike Sangster (Total), Heung Bog Lee (KOGAS), David KnoxL to R: Mike Sangster (Total), Heung Bog Lee (KOGAS), David Knox, Datuk Anuar Ahmad (PETRONAS) , Datuk Anuar Ahmad (PETRONAS)
Evolution in LNGAddress to Institute of Energy Economics JapanPeter Cleary, VP Corporate Strategy & Development, Santos
19 July 2011
IEEJ: July 2011
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500
400
300
200
100
0
Global LNG Demand ForecastGlobal LNG demand forecast has fallen due to the boom in North American unconventional gas, but Asian demand is
proving to be better than expected
mm
tpa
Global CAGR: 7.9%
Global CAGR: 5.9%
2008 2010 2012 2014 2016 2018 2020
LNG trade through 2010, LNG demand 2011-20, () relates to Feb-08 forecast
Source: Wood Mackenzie
Pacific (Feb-11) Atlantic (Feb-11) Global (Feb-08)
IEEJ: July 2011
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Asia is the Global Growth Engine
Asia 48% of population growth 52% of GDP growth 64% of primary energy growth
Source: EIA International Energy Outlook 2010*World GDP by Region Expressed as Purchasing Power Parity
Asia
Rest of World
Asia
Rest of World
Asia
Rest of World
3
IEEJ: July 2011
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Natural Gas is Abundant
827*USA
109
Proven gas reserves (Tcf)
Unconventional Gas (Tcf), resource estimate
245
250+
Source: BP Statistical Review 2010, Oil & Gas Journal, *EIA
Australia
62Canada
896Qatar
Russia
Iran
Nigeria
AlgeriaMalaysia
113
1046
1567
84
159
185
China
India
Indonesia
39
200
72Norway
Venezuela
286Turkmenistan
280Saudi
Iraq112Egypt
77
64 Kazakhstan
63Kuwait
UAE227
87
IEEJ: July 2011
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Asia’s Distinct LNG Demand Groups
India
Indonesia Malaysia
JapanSouth Korea
China
Singapore
Thailand
Taiwan
Established markets
Growing markets
Emerging markets
Vietnam
Woodmac estimates LNG demand (mtpa)
Additional LNG demand, Santos estimates (mtpa)
Philippines
Woodmac Regas Peak Capacity Estimates (mtpa)
IEEJ: July 2011
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1980
6.3
1.90.9
1.8
13.9
Evolution of LNG Trade Flows
17.0
11.9
11.9
0.2
4.9
1.6
4.9
0.3
0.9
1.6
0.3
0.2
1.62.6
1.7
0.9
1.7
6.9
0.4
0.8
1.6
0.1
2.4
1.2
2.6
79.50.3
43.0
27.0
2010
Source: Wood Mackenzie
IEEJ: July 2011
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Australian LNG Key to Future Supply
Source: Wood Mackenzie
0
50
100
150
200
250
300
350
Operational Under Construction Planned
mtp
aWorld LNG Export Capacity
Rest of World
Australia
IEEJ: July 2011
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Santos Vision and Strategy
Strong Australian
Base
Strategic Domestic Gas positions in EA and WA
LNGCHANNEL
DOMESTICCHANNEL
LNG Markets
A leading energy
companyin Australiaand Asia
Focused Asian
Growth
IEEJ: July 2011
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Santos’ Unique LNG Portfolio
GladstoneCSG to LNG
PNG New LNG Province
DarwinConventional Gas Supply
BonaparteFloating LNG
IEEJ: July 2011
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GLNGTwo-train 7.8 mtpa GLNG project under construction
FID January 2011
All permits for access to sites delivered per project schedule
Orders placed for long leads
Construction work underway on Curtis Island and mainland sites
Marine crossing line-pipe fabrication being shipped
Strategy to manage labour challenges
US$16 billion capital cost includes US$2 billion in contingencies
On schedule for first LNG in 2015 Australian Prime Minister Julia Gillard officially launches works on the GLNG plant on Curtis Island, 27 May 2011
IEEJ: July 2011
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Technical Innovation: CSG-to-LNG
World class assets & reserves
Manufacturing approach
Gas storage management
Sustainable resource management
IEEJ: July 2011
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The outlook for LNG
Evolving market landscape- Exporters will become importers
- Partnerships with NOCs increasingly important
- Increased market liquidity and trade flow complexities
- New technologies enabling CSG, Shale, FLNG & FRSU
Security of supply and energy policy continue to drive change
Santos well positioned to respond to this new landscape
IEEJ: July 2011
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Bonaparte LNGDarwin LNG
Santos’ LNG Customers & Partners
PNG LNG
GLNG
IEEJ: July 2011
GLNG FID signing ceremony, 13 January 2011GLNG FID signing ceremony, 13 January 2011L to R: Mike Sangster (Total), Heung Bog Lee (KOGAS), David KnoxL to R: Mike Sangster (Total), Heung Bog Lee (KOGAS), David Knox, Datuk Anuar Ahmad (PETRONAS) , Datuk Anuar Ahmad (PETRONAS)
Evolution in LNGAddress to Institute of Energy Economics JapanPeter Cleary, VP Corporate Strategy & Development, Santos
19 July 2011
IEEJ: July 2011
Contact: [email protected]
