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The Impact of the Growing LNG Trade on the Conventional Oil Tanker Industry

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The Impact of the Growing LNG Trade on the Conventional Oil Tanker Industry

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    1. 1 The Impact of the Growing LNG Trade on the Conventional Oil Tanker Industry By : Stavros Hatzigrigoris & Richard Gilmore Presented to the INTERTANKO Athens Tanker Event 10–13 April 2005

    2. 2 Guide to the presentation Introduction Energy Consumption Overview & Future Trends Natural Gas Segment of Total Energy LNG Fundamentals LNG Impact on Oil Tanker Industry Conclusions

    3. 3 1. Introduction

    4. 4 ANGELICOUSSIS SHIPPING GROUP THE FLEET DRY CARGO TANKERS LNG

    5. 5 2. Energy Consumption Overview & Future Trends

    6. 6 Energy Consumption Overview

    7. 7

    8. 8 Energy, Million Tons of Oil Equivalent (MTOE)

    9. 9

    10. 10 3. Natural Gas Segment of Total Energy

    11. 11

    12. 12

    13. 13

    14. 14 LNG Pipeline Vs LNG Carrier

    15. 15

    16. 16

    17. 17 LNG Demand through 2015

    18. 18 LNG Supply through 2015

    19. 19 4. LNG Fundamentals

    20. 20

    21. 21

    22. 22 More Political

    23. 23 Public Opinion : “LNG is environmentally friendly – but scary”

    24. 24 Public Opinion : “LNG is environmentally friendly – but scary” • LNG facilities and terminals have a 45-year record of operation without serious incident • Worldwide, there have been more than 33,000 LNG carrier voyages without serious incident • LNG is not explosive because it is not stored under pressure, and it is not toxic LNG itself does not burn because it contains no oxygen, which is needed for combustion. • If LNG is released into the air, the liquid immediately warms up and converts back to a gas. Initially, the gas is colder and heavier than the air, so it freezes any water vapour in the air. This can temporarily create an icy fog. As the gas continues to warm, it dissipates and rises harmlessly into the air.

    25. 25

    26. 26 Gas To Liquids (GTL) production is based on the Fischer-Tropsch process, which involves the conversion of natural gas to higher hydrocarbons like kerosene, gasoline, and naphtha, depending upon the operating conditions and catalysts used Competitive Alternatives - 2. GTL

    27. 27 Gas clathrates, commonly called gas hydrates, are ice-like mixtures of gases and water, in which the gas molecules are trapped within a framework of cages of water molecules. Each volume of hydrate may contain as much as 150-180 volumes of gas. Competitive Alternatives - 3. Bulk Balls - Gas hydrates

    28. 28 5. LNG Impact on Oil Tanker Industry

    29. 29 Oil Routes

    30. 30 Oil Trade flows 2002 & 2030

    31. 31 Gas Routes

    32. 32 Gas Trade flows 2002 & 2030

    33. 33

    34. 34

    35. 35

    36. 36 Constraints To Growth Financing Man Power Management Sea Going Officers & Crew Shipbuilding Capacity

    37. 37

    38. 38 6. CONCLUSIONS

    39. 39 CONCLUSIONS World Energy demand will continue to grow strongly All forms of energy supply will be needed to meet this growing demand Competition will be for building berths, man-power, financing, – impacting on costs and rates China’s continuing development will increase energy demand, but also add to ship production base. The LNG industry will not cannibalize the Oil Tanker industry

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