The LNG storage business and associated costs

The LNG storage business and associated costs

The LNG storage business
and associated costs
Enagás Gas Assets General Management
Index
About Enagás
and its LNG capacities
New LNG terminals
Onshore vs Offshore
2
LNG storage &
associated costs
45 years’ experience
A midstream
company
Leader in natural gas and LNG infrastructures
Major International player as a result of our technological expertise, gas infrastructure construction skills, highly effective
operations and maintenance programs and sound financial structure.
European Union-accredited
independent TSO
Top natural gas transmission company
in Spain
Technical Manager
of Spain's Gas System
Ownership structure
5%
95%
Free Float
3
SEPI
A worldwide reference with more than 45 years’ experience
The development of the Spanish gas system is based on LNG.
2003
Bilbao LNG Terminal
Sagunto LNG Terminal
Huelva LNG Terminal
Barcelona LNG Terminal
PAST
2006
1988
1969
2016
2007
1989
Mugardos LNG Terminal
Cartagena LNG Terminal
PRESENT
1996
2006
I.P. Tarifa
I.P. Irún
1993
I.P. Larrau
FUTURE
2011
I.P. Almería
LNG Terminal
Underground Storage
Pipeline
Infrastructure of other operators
4
Enagás across the world
Spain
6 LNG terminals (+2 in development)
~11.000 km high pressure pipelines
3 underground storage facilities
Sweden
Mexico
Swedegas
TLA Altamira LNG Terminal
Soto La Marina Compressor Station
Morelos Pipeline
Peru
Greece,
Albania
and Italy
Transportadora de Gas del Perú (TgP)
Compañía Operadora de Gas del Amazonas (Coga)
South Peru Gas Pipeline
Trans Adriatic Pipeline (TAP)
Chile
GNL Quintero LNG Terminal
5
Enagás LNG capacities
Bilbao LNG Terminal (40%)
Storage: 450,000 m3 GNL
Unloading: 267,000 m3 GNL
Reloading ratio: 3,000 m3/ h
El Musel LNG Terminal
Storage: 300,000 m3 GNL
Unloading: 267,000 m3 GNL
Reloading ratio: 6,000 m3/ h
2
3
Barcelona LNG Terminal
Storage: 760,000 m3 GNL
Unloading: 267,000 m3 GNL
Reloading ratio: 3,500 m3/ h
TOTAL CAPACITY worldwide
6
• LNG storage 3,950,500 m³ (Includes
634,000 m³ in Mex/Chi)
4
• Regasification: 8,675,000 m³(n)/h
(Includes 1,425,000 m³/h in Mex/Chi)
Sagunto LNG Terminal
Storage: 600,000 m3 GNL
Unloading: 266,000 m3 GNL
Reloading ratio: 3,000 m3/ h
5
5
Cartagena LNG Terminal
Storage: 587,000 m3 GNL
Unloading: 267,000 m3 GNL
Reloading ratio: 3,500 m3/ h
Huelva LNG Terminal
Storage: 619,500 m3 GNL
Unloading: 173,400 m3 GNL
Reloading ratio: 3,690 m3/ h
6
A worldwide reference with more than 45 years’ experience
Capacity
Spain:
• 4 LNG terminals 100% owned
2,266,500 m3 LNG storage capacity
5,450,000 m3(n)/h regasification capacity
•
2 partially owned LNG terminals
1,050,000 m3 LNG storage capacity
1,800,000 m3(n)/h regasification capacity
Flexibility
Since 1969, more than…
• 10,000 downloadings
• 500,000 trucks loaded
• 260 Reloadings (gassing up &
cooling down included)
1970: First truck loading operation
1997: First reloading operation
TOTAL CAPACITY in Spain
• 3,316,500 m³ LNG storage capacity
• 7,250,000 m³(n)/h regasification
capacity
7
2012: First full Qmax download at
Barcelona LNG Terminal
2014: 60% of the loading operations
wordwide in Spain
Technology Development
•
Renewable power generation:
8.7 MW in LNG Terminals
4.4 MW in Transmission network
infrastructures
Around 20%-30% of the total energy
consumption
•
Integration with industrial processes
of partners
Integration with a CCGT process at
Cartagena LNG Terminal and cold
recovery for industrial use at Barcelona
LNG Terminal
LNG Trading Hubs
2015
• LNG liquidity
• Third Party Access
• Free capacities
LNG
HUB
60
100
registered
8
%
144
33%
Mugardos
11
3%
BBG
60
14%
Sagunto
63
14%
Barcelona
99
23%
Cartagena
9
47
2%
11%
UGS
288
6
66%
2%
Total
438
100%
PVB
LNG
HUB
active operators
and more than
TWh
LNG
HUB
Huelva
LNG
HUB
LNG
HUB
LNG
HUB
Total LNG
The flexible LNG terminal concept
1
Trucking
Traditional services
Small scale
3
Big scale
Parking
2
LNG Railroad
1
Regasification
3
1
Small scaling
4
9
Re-export
2
Bunkering
Transhipment
Energy Efficiency Operational Excellence
MIDstream facilities have the capability to be the
best player for maximize the competitiveness of
GN into the value chain
UPstream
10
MIDstream
DOWNstream
COST
HIGH
SMALL
(+1-3% CAPEX)
HUGE
TIME
MEDIUM
SHORT
(1–3 years)
LONG
PLAYERS
FEW
(impact)
(spot)
“A FEW MORE”
(over the whole
downstream)
THE WORLD!
(but local)
Big Scale Logistics: Reloadings
Re-exports loaded by reloading
country in 2014 (6.4 Mt)
4%
Re-exports loaded by reloading country
in 2015 (6.4 Mt)
Nº Vessels
3% 1%1%
7%
Spain, 24
5%
Spain, 67
6%
4%
Belgium, 12
6%
28%
Belgium, 23
4%
France, 10
60%
France, 6
Netherlands, 15
Portugal, 5
6%
Netherlands, 9
South Korea, 4
Portugal, 7
USA, 4
5%
South Korea, 3
India, 4
USA, 1
18%
Nº Vessels
16%
Brazil, 2
18%
Singapore, 3
United Kingdom, 3
8%
Spanish Reloadings (GWh & Nº Vessels)
Source: International Group of Liquefied Natural
Gas Importers
60.185
31.802
22.697
8.091
24
2011
11
x1,9
x1,4
x0,3 15.500
x2,
8
42
52
70
25
2012
2013
2014
2015
Source: Web Enagás
Including reloading and coool-down operations
Small Scale LNG Logistic Model
REGASIFICATION SATELLITE PLANTS LOCATION
1,067
~34,400
Satellite Plants
LNG trucks loaded per year
±12
LNG cargoes
International leader in LNG truck loading
• Destinations: more than 59 across Europe
(France, Italy, Portugal, Switzerland,
Macedonia)
• Demand coverage: 1,400 GWh/year
12
Index
About Enagás
and its LNG capacities
New LNG terminals
Onshore vs Offshore
13
LNG storage &
associated costs
LNG Import Terminal Configurations: Technical Description
Configuration*
LNG Storage
Jetty
Onshore Facility
Pipeline
Regasification
Onshore
Regasification
Terminal
Full LNG
containment tank
180,000 m³
Single berth
Onshore
regasification
terminal
Onshore
pipeline
Onshore
FSRU
FRSU
173,000 m³
Single or dual berth +
Onshore
regasification
facility
Subsea pipeline
FSRU
FSU + Offshore
Regasification
FSU
173,000 m‫ە‬³
Single or dual berth +
Subsea pipeline
Offshore
(Jetty based)
FSU + Onshore
Regasification
FSU
173,000 m³
Single or dual berth +
Breakwater not required
Breakwater not required
Breakwater not required
Onshore
regasification
facility
Onshore
regasification
terminal
Cryogenic piping
over the trestle
* Site selection depends on navigational safety, port infrastructure and marine operations.
14
Onshore
LNG Import Terminal Configurations: Pros & Cons
CONFIGURATION
PROS
•
•
Onshore
Regasification
Terminal
FSRU
•
•
•
•
•
•
•
•
•
and
FSU + Off/On shore
regasification
•
•
15
Expandable flexibility
Higher levels of availability
(99,5%)
Well proven tenchnology
Excellent safety record
Qualified local labor force
Insulation efficiency (0,05%)
Lower costs for long term
solutions (lower OPEX)
Less visual impact
Leasing alternative
Land not required
Able to be located close to
final consumption points if
port infrastructure is available
Lower costs for
short/medium term
solutions (lower CAPEX)
Allow rapid fuel switching
CONS
OTHERS
•
•
•
Land and port facilities required
Social acceptance
•
•
•
Not easily expandable
Less proven technology
Less space between relevant
equipments
Face meteorological conditions
Crew management
Higher O&M costs
Periodical inspection (4 years)
Insulation efficiency (0,15%)
Limitations in storage and send
out capacity
•
•
•
•
•
•
•
•
•
•
RECOMMENDATION
Requires longterm investment
More adequate
to handle with
long term natural
gas supply
growth
More recommended for
LONG TERM
PROJECTS
Fast-track
solution
Port availability
required
Temporaly
solution until the
onshore
regasification
terminal is built
More recommended for
SHORT TERM
PROJECTS except in
case of exceptional
conditions (SoS or
environmental
conditions)
Cost comparison of the alternatives
Total Cost
(USD M.)
Cost comparison On shore Terminal vs FSRUs alternatives
1.400
on shore terminal
1.200
Break even point:
8-10 years
FSRU (construction)
1.000
FSRU (leasing)
800
600
400
200
0
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
years
Source: IGU.
• Between 0 and 8/10 years most profitable option FSRU leasing
• From 10 years most profitable option On shore terminal
• FSRU construction is not in any case the most favorable option
16
Index
About Enagás
and its LNG capacities
New LNG terminals
Onshore vs Offshore
17
LNG storage &
associated costs
Storage & associated costs
TARIFFS
Unloading
16,988 € per Ship
35 €/GWh
LNG Storage
32,4 €/GWh/d
176,841 € per Ship
Reloading
1,563 €/GWh
Small scale
relaoding
87,978 € per Ship
Port Costs
Imbalances
Losses
18
521 €/GWh
Imbalances Summary
• UNBUNDLING OF SERVICES UNDER RD984
EXCESS LNG
DEFICIT LNG
Based on total contracted Regasification Capacity (LNG Truck loading + Regasification capacity)
Maximum LNG stock allowed:
• If (15 x total contracted regasification capacity) < 300 GWh 300 GWh
• If (15 x total contracted regasification capacity) > 300 GWh 30-day
moving average LNG stocks in all terminals = (15 x contracted
regasification capacity)
If LNG stock in excess ≤ (4 x total daily contracted capacity) Daily
invoice of (2.5 x LNG Storage tariff)
If LNG stock in excess > (4 x total daily contracted capacity) Daily
invoice of (10 x LNG Storage tariff)
Minimum LNG stock allowed: 0 kWh
Daily invoice of (Quantity less than zero x 10%
Gas Reference Price)
LNG Storage Tariff: 32,4 €/GWh/day (0,01234 $/MMBtu/day) as per regulation Orden IET/2446/2013.
The Gas Reference Price is calculated as an arithmetic mean of the gas price in the Henry Hub and the National Balancing Point, using the methodology
established in article 9.6.6 of the NGTS.
19
Losses
20
UNLOADING
FUEL GAS
RELOADING
0.005% of the
unloaded LNG
Covered by Terminal
Operator: Efficiengy
No reloading losses under
normal operation
conditions
Conclusion
Enagás understands its role as logistics solution provider
and aims to improve LNG competitiveness.
LNG storage costs are currently settled for the traditional
service
of regasification. To develop bunkering and storage
Propuesta
businesses,
market needs:
PLAN de
MEJORA 2016
Unbundling of storage services.
Modifying storage imbalances for capacities
dedicated to storage.
New LNG FSU storage could be needed in some cases to
further develop bunkering services.
21
Thanks for your attention
LNG terminals in the Mediterranean Sea
See one more LNG terminal in the Mediterranean Sea on next slide
Barcelona
Cartagena
DOCKS: 1 LS 1 SS: 2,000 / 266,000 m3 LNG
DOCKS: 1 LS 1 SS: 7,500 / 266,000 m3 LNG
STORAGE: 760,000 m3 LNG / 6 Tanks
STORAGE: 587,000 m3 LNG / 5 Tanks
REGASIFICATION: 1,950,000 m3 (n)/h (544.3 GWh/d)
REGASIFICATION: 1,350,000 m3 (n)/h (376.8 GWh/d)
LNG TRUCK LOADING: 3 bays, 50 trucks/day
LNG TRUCK LOADING: 3 bays, 50 trucks/day
LNG METHANE TANKER LOADING: Max. 3,500 m3/h
LNG METHANE TANKER LOADING: Max. 3,500 m3/h
TRANSSHIPMENT: Available
TRANSSHIPMENT: Available
LNG terminals in the Mediterranean Sea
See two more LNG terminals in the Mediterranean Sea on previous slide
Sagunto
DOCKS: 1 LS: 30,000 / 266,000 m3 LNG
STORAGE: 600,000 m3 LNG / 4 Tanks
REGASIFICATION: 1,000,000 m3 (n)/h
LNG TRUCK LOADING: 2 bays, 40 trucks/day
LNG METHANE TANKER LOADING: Max. 3,000 m3/h
TRANSSHIPMENT: Available
LNG Terminals in the Cantabrian Sea
El Musel
Bilbao
DOCKS: 1 LS: 65,000 / 266,000 m3 LNG
DOCKS: 1 LS: 7,500 / 270,000 m3 LNG
STORAGE: 300,000 m3 LNG / 2 Tanks
STORAGE: 450,000 m3 LNG / 3 Tanks
REGASIFICATION: 800,000 m3 (n)/h (223 GWh/d)
REGASIFICATION: 800,000 m3 (n)/h (223 GWh/d)
LNG TRUCK LOADING: 2 bays, 50 trucks/day
LNG TRUCK LOADING: 1 bay, 15 trucks/day
LNG METHANE TANKER LOADING: Max. 6,000 m3/h
LNG METHANE TANKER LOADING: Max. 3,000 m3/h
TRANSSHIPMENT: Available
TRANSSHIPMENT: Available
LNG Terminals in the Atlantic Sea
Huelva
DOCKS: 1 LS: 7,500 / 175,000 m3 LNG
STORAGE: 619,500 m3 LNG / 5 Tanks
REGASIFICATION: 1,350,000 m3 (n)/h (376.8 GWh/d)
LNG TRUCK LOADING: 3 bays, 50 trucks/day
LNG METHANE TANKER LOADING: Max. 3,700 m3/h
TRANSSHIPMENT: Available