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This major report by business analysts Douglas-Westwood examines the current and future prospects, technologies and markets for the LNG (Liquefied Natural Gas) sector.
Gas currently accounts for nearly a quarter of all energy consumption, and the IEA have forecast that gas demand will grow at a faster rate than oil over the first quarter of this century, accounting for 24% of worldwide energy use by 2030. With many regions facing future gas shortages, LNG offers an increasingly important method of bringing gas from remote reserves to the market.
The report is unique in providing a complete overview of the whole LNG process chain, encompassing liquefaction plants, tankers, and import and regasification terminals.
In common with other reports of Douglas-Westwood’s acclaimed series, The World LNG Market Report will be useful for executive readers. The report does not assume a detailed technical knowledge of the subject.
This major new report by business analysts Douglas- Westwood examines the current and future prospects, technologies and markets for the LNG (Liquefied Natural Gas) sector.
The report identifies by region and thoroughly discusses on a country-by-country basis the current and future prospects for the LNG plants, carriers, and terminals over the period to 2012.
Using the same in-depth modelling process that is adopted for other reports in this series, The World LNG Market Report presents a five-year market forecast for activity in the sector over 2008-2012.
It includes a series of charts and tables (with five years of historic data) showing the market expenditures in US dollar values over the period, segmented by facility type and region.
DWL’s market survey, research, analysis and strategy services are used by clients in 37 countries with over 520 assignments completed since formation in 1990. Focused on the energy and marine industries, in the past three years we have completed market due diligence on M&A and financing deals totalling more than $14 billion, including over $10 billion during 2007 alone. Clients include oil majors, investment banks, offshore contractors, and government departments.
Document contentsSummary & Conclusions - an executive overview, highlighting worldwide LNG developments, and historic and forecast activity by volume and value.
Why Liquefy Gas? - an introduction to the subject of gas liquefaction.
Liquefaction Technology - an explanation of all the major LNG liquefaction technologies.
LNG Transportation and Contracting Practices - description of all the main types of carrier and containment systems.
Import and Regasification Terminals - the receiving and regasification process, associated technologies.
Global Gas Demand and the LNG Consumers - overview of gas consumption in the context of global energy demand and LNG consumers by region.
Global Overview of LNG Activity - identification and description of all the prospective developments over the 2008-2012 period, presented on a country by country basis for each of the following regions; Africa, Asia, Australasia, Latin America, Middle East, North America, and Western Europe.
Case Studies - a more in-depth look at a chosen selection of project developments, one for each region.
The LNG Market - capital expenditure and import/export capacity in the LNG market over the period to 2012, presented by facility type, region and component.
Appendices - company and contractor profiles; conversion tables.
Data Summary - information on LNG liquefaction, carriers, and regasification terminals for 2008-2012.
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Table of Contents
Contents
1 Executive Summary and Conclusion.. 12
1.1 Introduction . 13
2 The LNG Industry 18
2.1 Introduction . 19
2.2 The Chemical Properties of LNG 19
2.3 The LNG Chain .. 20
2.4 LNG Contracting Practices 21
2.5 LNG Market Dynamics.. 23
3 LNG Liquefaction 25
3.1 Introduction . 26
3.2 Pre-Liquefaction Gas Treatment 26
3.3 LNG Liquefaction Processes 27
3.4 Liquefaction Technology Market 31
3.5 LNG Contractors Market Share .. 31
4 LNG Transportation 33
4.1 Introduction . 34
4.2 LNG Vessel Designs .. 35
4.3 LNG Carrier Propulsion 39
5 LNG Regasification 42
5.1 Receiving and Regasification Process .. 43
6 Gas Demand and LNG Consumers .. 47
6.1 Global Energy and Gas Demand 48
6.2 Regional Gas and LNG Markets . 50
7 Offshore LNG . 56
7.1 Why Offshore? .. 57
7.2 Offshore Receiving Terminals . 58
7.3 Floating Liquefaction Plants . 60
7.4 Summary of Current Offshore Prospects . 65
8 Global Overview of LNG Activity 67
8.1 Global View of LNG Prospects . 68
8.2 Africa 69
8.3 Australasia 89
8.4 FSU & Eastern Europe .. 94
8.5 Latin America . 96
8.6 Middle East 103
8.7 North America . 108
8.8 Western Europe .. 117
9 Case Studies 126
9.1 Bonny Island, Nigeria (Africa) 127
9.2 Guangdong Dapeng LNG Import Terminal, China (Asia) .. 129
9.3 Kawagoe LNG Import Terminal, Japan (Asia) .. 131
9.4 North West Shelf Venture, Australia (Australasia) 133
9.5 Sakhalin II (FSU & Eastern Europe) 135
9.6 Atlantic LNG, Trinidad & Tobago (Latin America) . 137
9.7 Qatargas (Middle East) .. 139
9.8 Lake Charles Import Terminal, USA (North America) . 142
9.9 Snøhvit, Norway (Western Europe) 144
9.10 Adriatic LNG, Italy (Western Europe) 147
10 Market Forecast . 149
10.1 Introduction .. 150
10.2 The Forecasting Process .. 150
10.3 Pricing Procedures .. 151
10.4 LNG Liquefaction Terminals .. 152
10.5 LNG Carriers 158
10.6 LNG Import Terminals 160
10.7 Forecast by Regions . 163
10.7 The Global LNG Market by Facility Type 171
10.8 The Global LNG Market by Region . 172
11 Appendices .. 173
11.1 Major Contractor Profile 174
11.2 Other Company Profiles 178
11.3 Conversion Tables .. 181
12 Data Summary 182
12.1 Prospective LNG Liquefaction Plant Developments 2008-2012 .. 183
12.2 Prospective Newbuild LNG Carriers 2008-2012 . 185
12.3 Prospective LNG Import Terminal Developments 2008-2012 189
Figures
Figure 1: Historical development of LNG Industry . 14
Figure 2: Development of LNG Carrier Fleet 14
Figure 3: Prospective additions to LNG Output 15
Figure 4: Global Capex on LNG Facilities by Type 2003-2012 17
Figure 5: Global Capex on LNG Facilities by Region 2003-2012 .. 17
Figure 6: The LNG Chain 20
Figure 7: Process Diagram of the LNG chain .. 20
Figure 8: Commercial Risks in the Value Chain . 22
Figure 9: Illustrative Costs of Gas, Oil and Coal Transportation – Showing Gas’s Higher Costs and
the Effect of Scale (Gas Delivery Capability in BCM) .. 23
Figure 10: Oil, Gas and LNG Prices .. 23
Figure 11: LNG Import Demand Growth . 24
Figure 12: Liquefaction Plant 26
Figure 13: Mixed Refrigerant Compressor . 27
Figure 14: Single Mixed Refrigerant Process 27
Figure 15: Propane Pre-Cooled Mixed Refrigerant Process . 28
Figure 16: Cryogenic Heat Exchanger . 28
Figure 17: Pure Refrigerant Cascade Process 28
Figure 18: ConocoPhillips Optimised Cascade Process . 29
Figure 19: StatoilHydro-Linde Mixed Fluid Cascade Process .. 29
Figure 20: Dual Mixed Refrigerant Process .. 30
Figure 21: Dual Mixed Refrigerant Process .. 30
Figure 22: Liquefaction Capacity (mmtpa) . 31
Figure 23: Contractor Market Share Based on Installed Liquefaction Capacity . 31
Figure 24: Development of the LNG Carrier Fleet . 34
Figure 25: Existing Fleet by Containment System . 35
Figure 26: LEFT-Membrane Tank. RIGHT Hanjin Pyeongtaek carrier 35
Figure 27: Typical Membrane containment layout . 35
Figure 28: The Umm Al Ashtan carrier . 36
Figure 29: Spherical LNG Tank 36
Figure 30: Typical Kvaerner-Moss layout 36
Figure 31: Polar Eagle SPB LNG carrier. 37
Figure 32- IHI SPB Tank . 37
Figure 33: Polar Eagle Layout .. 37
Figure 34: Hull Section of a LNG Carrier with ADBT Tank 38
Figure 35: Double Wall Panel .. 38
Figure 36: Simple Cycle System . 40
Figure 37: COGES System 40
Figure 38: Direct Drive System 41
Figure 39: LNG Import Terminal Schematic.. 43
Figure 40: LNG Carrier Discharge . 43
Figure 41: LNG Tank Design Features 44
Figure 42: Fitting the Glass Insulation .. 44
Figure 43: Submerged Combustion Vapouriser .. 45
Figure 44: Sea Water Vapouriser 45
Figure 45: World Energy Consumption by Region 1965-2007 48
Figure 47: Gas Consumption by Region 1990-2030 . 48
Figure 46: World Primary Energy Consumption by Type 2007 48
Figure 48: Global Oil Supply 1930-2050 . 49
Figure 49 : Natural Gas Major Trade Movements 2007 . 50
Figure 50: Natural Gas Production and Consumption in Africa .. 52
Figure 51: Natural Gas Production and Consumption in Asia . 52
Figure 52: Natural Gas Production and Consumption in Australasia .. 53
Figure 53: Natural Gas Production and Consumption in FSU & Eastern Europe .. 53
Figure 54: Natural Gas Production and Consumption in Latin America . 54
Figure 55: Natural Gas Production and Consumption in the Middle East . 54
Figure 56: Natural Gas Production and Consumption in North America 55
Figure 57: Natural Gas Production and Consumption in Western Europe 55
Figure 59: Teesside ship-to-ship transfer .. 58
Figure 60: SBM Floating Soft Yoke .. 58
Figure 58: Energy Bridge-Cutaway Showing STL Offloading System . 58
Figure 61: "Port Pelican" Offshore LNG Receiving and Regasification Terminal .. 59
Figure 62: LNG Import Terminal with Salt Dome Storage . 59
Figure 63: Nnwa/Doro FLNG Concept . 60
Figure 64: Shell's FLNG Concept .. 61
Figure 65: Shell's FONG Concept . 61
Figure 66: Side-by-Side LNG Transfer 61
Figure 67: Concrete FPSO Concept . 62
Figure 68: FLEX LNG Producer .. 63
Figure 69: Höegh LNG FPSO Layout .. 64
Figure 70: Höegh LNG FPSO with LNG carrier .. 64
Figure 71: Prospective Additions to LNG Liquefaction Output Capacity by Development Type 2008-
2012 . 68
Figure 72: Prospective Additions to LNG Import Capacity 2008-2012 68
Figure 73: Map of LNG Facilities in Africa . 71
Figure 74: Map of LNG Facilities in Algeria .. 72
Figure 75: Marsa El Brega LNG Plant . 75
Figure 76: West African Gas Flaring- as seen from Space .. 75
Figure 77: Map of LNG Facilities in Asia 80
Figure 78: Map of Kalimantan, Indonesia .. 83
Figure 79: Map of Sumatra, Indonesia 83
Figure 80: Map of Irian Java, Indonesia . 84
Figure 81: Map of Japanese Import Terminals 85
Figure 82: Map of Australian LNG Terminals .. 90
Figure 83: Map of North Australian LNG Terminals .. 92
Figure 84: Map of North West Australian LNG Terminals . 92
Figure 85: Map of Russian LNG Terminals .. 95
Figure 86: Map of LNG Facilities in Latin America 97
Figure 87: Map of LNG Facilities in Venzuela and Trinidad .. 102
Figure 88: LNG Facilities in the Middle East .. 103
Figure 89: Qatargas LNG Plant at Night .. 106
Figure 90: Map of LNG Facilities in Qatar, U.A.E and Oman 107
Figure 91: Map of LNG Facilities in North America 110
Figure 92: Map of LNG Facilities in the US Gulf of Mexico 111
Figure 93: Net Import and LNG Growth in the US (2005-2030) .. 113
Figure 94: Cameron LNG- Artist's Impression .. 114
Figure 95: Artist's impression of Crown Landing LNG Import Terminal 115
Figure 96: Map of LNG Facilities in Western Europe 119
Figure 97: Fos-sur-Mer LNG Terminal .. 120
Figure 98: Construction of Snøhvit .. 123
Figure 99: South Hook LNG Terminal 125
Figure 100: Bonny Island Import Terminal .. 127
Figure 101: NLNG Moss-tank LNG Carrier . 128
Figure 102: Guangdong LNG Terminal- Artist's Impression .. 129
Figure 103: Map of Guangdong LNG Trunk-Line. 130
Figure 104: Kawagoe Power Complex.. 131
Figure 105: LNG Unloading Arms 131
Figure 106: LNG Storage Tank . 131
Figure 107: LNG Vaporiser . 132
Figure 109: North West Shelf Fields .. 133
Figure 108: Location of NWSV LNG Plant .. 133
Figure 110: Aerial View of Karratha LNG . 133
Figure 112: NWS Liquefaction Trains 134
Figure 111: Location of NWS Train 4 . 134
Figure 114: Phase 1 Development of Sakhalin Project 135
Figure 113: Sakhalin Island . 135
Figure 115: Phase 2 Facilities at Prigorodnoye 136
Figure 116: The Atlantic LNG Plant 137
Figure 117: LNG Tank Under Construction. 137
Figure 118: The North Field 139
Figure 119: Qatargas Facilities at Ras Laffan 139
Figure 120: LNG Loading Berths at Ras Laffan Port . 139
Figure 121: LNG Unloading Arms 142
Figure 122: LNG Storage Tanks .. 142
Figure 123: LNG Vaporiser . 142
Figure 124: Lake Charles Expansion Project- Artist's Impression .. 143
Figure 125: Snøhvit Field Development 144
Figure 126: Snøhvit Melkøya Umbilical . 145
Figure 127: Melkøya Island September 2002 145
Figure 128: Melkøya Island March 2007 .. 145
Figure 129: Barge-Mounted Process Equipment . 146
Figure 130: Artic Discoverer LNG Carrier 146
Figure 131: Construction is underway in Aker's Yard in Algeciras, Spain .. 147
Figure 132: Terminal’s Internal Structure . 147
Figure 133: Storage Tanks within GBS . 148
Figure 134: Adriatic LNG- Artist's Impression 148
Figure 135: Capex on LNG Liquefaction Terminals by Region 2003-2012 152
Figure 136: Regional Share of Capex on LNG Liquefaction Terminals 2008-2012 152
Figure 137: Total Liquefaction Capacity in Operation- Installed and Forecast . 153
Figure 138: Liquefaction Capex- New Developments and Expansion Projects 154
Figure 139: Liquefaction Cost Breakdown .. 156
Figure 140: EPC Cost for Liquefaction Plants 1999-2010 .. 157
Figure 141: Expenditure on LNG Carriers by Shipbuilder Region 2003-2012 .. 158
Figure 142: Average Vessel Cost for 135,000-165,000m3 Capacity Carriers .. 158
Figure 143: New LNG Carriers by Shipbuilder (2008-2012) .. 159
Figure 144: LNG Carriers Newbuilds 2008-2012 . 159
Figure 145: Number of Carriers in Service 2003-2012 . 159
Figure 146: Capex on LNG Import Terminals by Region 2003-2012 . 160
Figure 147: Regional Share of Capex on LNG Import Terminals 2008-2012 160
Figure 148: Import Terminal Capex- New Developments and Expansion Projects 161
Figure 149: Import Terminals Cost Breakdown 162
Figure 150: Capex on LNG Facilities in Africa by Type 2003-2012 163
Figure 151: Capex on LNG Facilities in Asia by Type 2003-2012 .. 164
Figure 152: Capex on LNG Facilities in Australasia by Type 2003-2012 165
Figure 153: Capex on LNG Facilities in FSU & Eastern Europe by Type 2003-2012 .. 166
Figure 154: Capex on LNG Facilities in Latin America by Type 2003-2012 .. 167
Figure 155: Capex on LNG Facilities in the Middle East by Type 2003-2012 .. 168
Figure 156: Capex on LNG Facilities in North America by Type 2003-2012 . 169
Figure 157: Capex on LNG Facilities in Western Europe by Type 2003-2012 . 170
Figure 158: Global Capex on LNG Facilities by Type 2003-2012 .. 171
Figure 159: Global Capex on LNG Facilities by Type 2008-2012 .. 171
Figure 160: Global Capex on LNG Facilities by Region 2003-2012 .. 172
Figure 161: Global Capex on LNG Facilities by Region 2008-2012 .. 172
Tables
Table 1: Differences between Announced Units/Capacity and Forecast Units/ Capacity . 16
Table 2: Example of LNG Composition between Alaska and Algeria .. 19
Table 3: Table of Typical Natural Gas Composition . 26
Table 4: Future Train Size by Liquefaction Process . 31
Table 5: Liquefaction Capacity by Process 31
Table 6: LNG Carrier Construction- Annual Shipyard Capacity .. 34
Table 7: Carrier Propulsions . 39
Table 8: World's Top Ten Countries for Proven Gas Resources 50
Table 9: LNG Trade Movements in 2007 51
Table 10: Global Overview of Offshore LNG Import and Export Capacity June 2008 . 65
Table 11: Offshore LNG Liquefaction Plant Prospects 2008-2012 65
Table 12: Offshore LNG Import Terminals in Operation June 2008 . 65
Table 13: Offshore LNG Import Terminal Prospects 2008-2012 66
Table 14: Overview of LNG Import and Export Capacity in Africa June 2008 . 69
Table 15: LNG Liquefaction Plants in Operation in Africa June 2008 .. 69
Table 16: LNG Liquefaction Plant Prospects in Africa 2008-2012 . 70
Table 17: LNG Import Terminals Prospects in Africa 2008-2012 .. 70
Table 18: Overview of LNG Import and Export Capacity in Asia June 2008 76
Table 19: LNG Liquefaction Plants in Operation June 2008 . 77
Table 20: LNG Liquefaction Plant Prospects in Asia 2008-2012 77
Table 21: LNG Import Terminals in Operation in Asia June 2008 . 78
Table 22: LNG Import Terminal Prospects in Asia 2008-2012 79
Table 23: Overview of LNG Import and Export Capacity in Australasia June 2008 . 89
Table 24: LNG Liquefaction Plants in Operation in Australasia June 2008 .. 89
Table 25: LNG Liquefaction Prospects in Australasia 2008- 2012 89
Table 26: LNG Import Terminal Prospects in Australasia 2008-2012 . 90
Table 27: Overview of LNG Import and Export Capacity in FSU & Eastern Europe June 2008. 94
Table 28: LNG Liquefaction Plants Prospects in FSU & Eastern Europe June 2008 .. 94
Table 29: LNG Import Terminal Prospects in FSU & Eastern Europe June 2008 . 94
Table 30: Overview of LNG Import and Export Capacity in Latin America June 2008 96
Table 31: LNG Liquefaction Plants in Operation in Latin America June 2008 . 96
Table 32: LNG Liquefaction Plant Prospects in Latin America 2008-2012 96
Table 33: LNG Import Terminals Currently in Operation as of June 2008 . 96
Table 34: LNG Import Terminal Prospects in Latin America 2008-2012 97
Table 35: Overview of LNG Import and Export Capacity in the Middle East June 2008 . 103
Table 36: LNG Liquefaction Plants in Operation in the Middle East June 2008 .. 103
Table 37: LNG Liquefaction Plant Prospects in the Middle East 2008-2012 . 104
Table 38: LNG Import Terminals in Operation in the Middle East June 2008 104
Table 39: LNG Import Terminal Prospects in the Middle East 2008-2012 .. 104
Table 40: Overview of LNG Import and Export Capacity in North America as of June 2008 . 108
Table 41: LNG Liquefaction Plants in Operation in North America June 2008 . 108
Table 42: LNG Import Terminals Currently in Operation June 2008 .. 108
Table 43: LNG Import Terminal Prospects in North America 2008-2012 109
Table 44: Overview of LNG Import and Export Capacity in Western Europe June 2008 117
Table 45: LNG Liquefaction Plants in Operation in Western Europe June 2008 . 117
Table 46: LNG Liquefaction Plant Prospects in Western Europe 2008-2012 117
Table 47: LNG Import Terminals Currently in Operation in Western Europe June 2008 . 117
Table 48: LNG Import Terminals Prospects in Western Europe 2008-2012 . 118
Table 49: LNG Liquefaction Capacity Coming Onstream 2003-2012 152
Table 50: Liquefaction Capacity- New Developments and Expansion Projects .. 154
Table 51: No. of LNG Carriers Newbuilds by Shipbuilder Region 2003-2012 .. 158
Table 52: LNG Import Capacity Coming Onstream 2003-2012 (mmtpa) 160
Table 53: Import Terminals- New Developments and Expansion Projects . 161
Table 54: Conversion Table 181
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