Excelerate Energy Overview

Excelerate Energy
Jagadish Mendu
15 April 2012
© 2012 Excelerate Energy L.P. All Rights Reserved.
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Disclaimer
Excelerate Energy makes no representations or warranties, express or implied,
of any kind with respect to Information provided in this presentation, including
without limitation with respect to the information’s accuracy or completeness.
Excelerate Energy will not be liable for any reliance or usage by a third party of
any information within this presentation. Any representations or warranties shall
be made, if at all, only in definitive written agreements that may be entered into
by the Parties.
© 2012 Excelerate Energy L.P. All Rights Reserved.
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Company Profile
• Established in 2003 to pursue opportunities in LNG
– Based in The Woodlands, TX
– Developer of proprietary offshore and dockside floating LNG
solutions
• Pioneer and world leader in innovative offshore LNG
solutions and ship-to-ship transfer of LNG
LIQUEFACTION
TRANSPORTATION
REGASIFICATION
TRADING
• Ability to use assets and expertise to maximize
LNG value chain
© 2012 Excelerate Energy L.P. All Rights Reserved.
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Excelerate Energy’s History of Innovation
July 2003
January 2005
Excelerate
Energy
Formed
2003
March 2005
“World’s First
Deepwater LNG
Port” Gulf Gateway
Commissioned
February 2007
“World’s First Regas
Vessel”
Excelsior Delivered
2004
“World’s First
Commercial”
LNG Ship-to-Ship
Transfer
2005
February 2007
“World’s First GasPort”
Teesside GasPort
Completed
© 2012 Excelerate Energy L.P. All Rights Reserved.
2006
May 2008
June 2008
“First LNG Facility on the
US East Coast in 30 Years”
Northeast Gateway
Commissioned
2007
June 2008
“World’s First
At-the-Dock
LNG STS Transfer”
Bahia Blanca GasPort
2008
April 2011
“100th Ship-to-Ship
Transfer of LNG”
Over 12,600,000 m3
of LNG transferred
“South America’s First
LNG Import Facility”
Bahia Blanca
GasPort Commissioned
2009
August 2009
“Middle East’s First LNG
Importation Facility”
Mina Al Ahmadi GasPort
Commissioned
2010
2011
June 2011
“Argentina’s Second LNG
Importation Facility”
Escobar GasPort
Commissioned
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Floating Regasification
2005
Gulf Gateway
EE Floating Terminals: Operating
© 2012 Excelerate Energy L.P. All Rights Reserved.
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Floating Regasification
2008
Teesside GasPort
Northeast Gateway
Gulf Gateway
Bahia Blanca
EE Floating Terminals: Operating
© 2012 Excelerate Energy L.P. All Rights Reserved.
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Floating Regasification
Current Status
Teesside GasPort
Port Meridian
Toscana (OLT)
Northeast Gateway
Israel
Neptune LNG
Mina Al Ahmadi
Gulf Gateway
Aguirre GasPort
Dubai
Sungai Udang (Melaka)
Pecem
Medan
West Java
VT3
Guanabara Bay
Escobar
Bahia Blanca
EE Floating Terminals:
© 2012 Excelerate Energy L.P. All Rights Reserved.
Floating Terminals: Operating
Floating Terminals: Approved
Floating Terminals: Construction
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Floating Regasification
Future Opportunities
2
4
2
Floating Terminals: Formal Tenders/Pre Qual/PMC Assigned
Floating Terminals: Early Interest
Floating Terminals: Direct Discussions
© 2012 Excelerate Energy L.P. All Rights Reserved.
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The Number of LNG Importing
Countries Increasing Rapidly
Number of LNG Importing Countries
30
28
25
25
23
2000 – 2012: 9% CAGR
21
20
# of Countries
18
17
17
15
15
14
13
12
12
10
10
5
0
2000
© 2012 Excelerate Energy L.P. All Rights Reserved.
2002
2004
2006
2008
2010
2012
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Floating LNG Markets
Historical Consumption
14.00
12.00
10.00
MTPA
8.00
6.00
4.00
2.00
0.00
2008
2009
Argentina
© 2012 Excelerate Energy L.P. All Rights Reserved.
Kuwait
2010
Brazil
Dubai
2011
Indonesia
Malaysia
2012
Israel
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New & Growing Markets
LNG Imports From Floating Regas (Est. for 2012)
4.5
4.0
MTPA
3.5
3.0
2.5
4.1
2.0
1.5
2.3
1.0
2.0
0.5
1.6
0.9
0.8
0.12
Indonesia
Malaysia
Israel
0.0
Argentina
•
Kuwait
Brazil
Dubai
11 floating regas facilities globally, with 3 more to be commissioned in 2012
– Demand from existing projects to reach ≈10 MMt, with another 1.7 MMt from new projects
– Total imports for 2012 will be around 11.7 mtpa , 65% higher than 2011
•
New projects are motivated by
– Security of Supply
– Environmental concerns
– Rapidity to Market
© 2012 Excelerate Energy L.P. All Rights Reserved.
— Cost savings (fuel switching)
— Demand growth
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Floating Regasification
Economic Drivers
•
Reduced Time to Market
– Earlier realization of benefits
from fuel switching
– Quicker solution for critical
energy needs
•
Onshore
Regasification
6 to 18
months
48 - 60
months
$50 to
$150 million
$500 Million to
$1 Billion
Small,
Offshore,
Low Impact
Significant
Onshore and
Offshore Civil
Works
Lower cost of implementation
– Fixed infrastructure is a fraction
of the cost of a land-based
facility
– Overall cost (vessel and
infrastructure) are competitive
with land-based economics
•
Gateway /
GasPort
Smaller footprint/impact
– Reduced footprint and
environmental impact ideal for
sensitive or restricted areas
© 2012 Excelerate Energy L.P. All Rights Reserved.
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Short-term Trade
Growing With Divertible Supply
Global LNG Trade
300
Long-Term
Short-Term
29%
250
20%
MMt
200
20%
22%
2007
2008
19%
14%
150
2%
5%
7%
2000
2001
2002
8%
12%
2003
2004
11%
100
50
0
2005
2006
2009
2010
2011
Source: Poten & Excelerate Energy
•
Out of the total 246 MMt of LNG traded in 2011, about 72 MMt was traded under
short-term and spot deals
– This is about 29% of the total traded during the year, up by 10% YoY
– Majority of tradable LNG was diverted from U.S. and U.K. (Qatar, Eq. Guinea, Yemen, etc.)
© 2012 Excelerate Energy L.P. All Rights Reserved.
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Spot LNG Price Indices & Short-term Trading
Growing with Liquidity
Asian LNG Price Vs. US Gas Prices Vs. UK as of March 26, 2012
20
18
16
$/MMBtu
14
12
10
8
6
4
2
HH
•
NEG
JKM
EAX
May-12
Mar-12
Jan-12
Nov-11
Sep-11
Jul-11
May-11
Mar-11
Jan-11
Nov-10
Sep-10
Jul-10
May-10
Mar-10
Jan-10
Nov-09
Sep-09
Jul-09
UK NBP
Source: Excelerate, Platts, ICIS Heren
Currently there are three publications printing spot LNG prices
–
•
May-09
Mar-09
Jan-09
Nov-08
Sep-08
Jul-08
May-08
Mar-08
Jan-08
0
Platts, ICIS Heren, RIM Intelligence
Liquidity and availability of published price indices help spot and short-term trading
–
–
Suppliers started referencing short term price indices in contracts for benchmarking
New market entrants are more confident relying on purchasing cargoes in spot market
© 2012 Excelerate Energy L.P. All Rights Reserved.
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Thank you!
© 2012 Excelerate Energy L.P. All Rights Reserved.
EXCELERATE ENERGY L.P.
1450 Lake Robbins Drive, Suite 200
The Woodlands, TX 77380
1 (832) 813-7100
www. excelerateenergy.com
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