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LNG operational flexibility as value driver in the Mediterranean Basin

GIE Conference Radisson SAS Carlton Hotel Bratislava 29 th September 2006. LNG operational flexibility as value driver in the Mediterranean Basin. Carlo MALACARNE CEO. LNG supply / demand evolution in the Med Basin. The role of the LNG spot market.

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LNG operational flexibility as value driver in the Mediterranean Basin

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  1. GIE Conference Radisson SAS Carlton Hotel Bratislava 29th September 2006 LNG operational flexibility as value driver in the Mediterranean Basin Carlo MALACARNE CEO

  2. LNG supply / demand evolution in the Med Basin The role of the LNG spot market The issue of harmonisation and interoperability Closing remarks and open issues

  3. LNG supply options very attractivein the Med Basin Gas 3% cagr LNG 10% cagr New Med gas supplies In 2030 LNG 200 bcm Pipe 130 bcm LNG to Med 2.00-2.50 $/MBtu 18 Pipe to Med S. haul 1.50-2.00 $/MBtu L. haul 2.50-3.00 $/MBtu 72 120 Source: IEA

  4. LNG supply / demand evolution in the Med Basin The role of the LNG spot market The issue of harmonisation and interoperability Closing remarks and open issues

  5. LNG supply flowsfrom bipolar systems… to an open web Norway Sakhalin Egypt Middle East Algeria W.Africa Trinidad S.E.Asia S. America Australia Markets LNG Price Arbitrages Pipe Source: BP

  6. LNG spot market flexibilitya must for managing value chain risks Spot-driven cargos geographical arbitrages as a risk-mitigation factor Source: Various

  7. Evolution of the electricity demandin the Med Basin Source: OME

  8. LNG plays a key role in supplying flexibility to the electricity generation sector Source: Jensen

  9. LNG spot markets flexibilitya must for the gas users • CCGT growth • Domestic production declines • Seasonality increases • Gas / Power arbitrages • Pipeline saturation • Storage availability Flexibility Tools Requirement LNG spot markets are key flexibility providers

  10. LNG supply / demand evolution in the Med Basin The role of the LNG spot market The issue of harmonisation and interoperability Closing remarks and open issues

  11. LNG supply flexibility requiresregassification interoperability… Isle of Grain Source: Various

  12. … as well as quality harmonisation LNG Domestic productions Pipe imports Source: Advantica

  13. LNG supply / demand evolution in the Med Basin The role of the LNG spot market The issue of harmonisation and interoperability Closing remarks and open issues

  14. Closing remarks and open issues • LNG will play a key role in the future gas supplies to the Med Basin • LNG trading from bi-polar systems to open web • Growing Flexibility required both by the market and by LNG operators … but major efforts are still required for allowing • Fair competition in a given basin • Supply flexibility and security • Optimal integration with grids and pipe supplies Regulatory harmonisation Terminals interoperability Quality harmonisation

  15. GIE Conference Radisson SAS Carlton Hotel Bratislava 29th September 2006 LNG operational flexibility as value driver in the Mediterranean Basin Carlo MALACARNE CEO

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