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Global Forecasts 2013

A world well-supplied

Natural gas is still not a global They could provide more than plant to be built on the Kola fungible commodity, although 90 million tonnes/year capacity if peninsula.

the LNG trade steadily grows as they all get built. Note that Statoil gave back its 24% stake to

N projects and the global ? eet expand. 35 million tonnes/year is coalbed Gazprom in August after spending

ExxonMobil thinks that worldwide methane supplied – a ? rst at these $336 million. Total is hanging in natural gas use will grow more volumes. there with its 25% stake. A 137tcf than any other fuel – by 65% over Meanwhile, the on-again, gas ? eld is hard to give up, even if it the next 30 years. Increasingly, off-again, on-again massive is 375 miles from shore in that demand will be supplied by Shtokman gas ? eld offshore Siberia iceberg-laden waters.

‘stranded’ gas – from ? elds afar – is . . . well, who knows? Gazprom While Russia ? ddles, another and conversion to LNG will get the and partners Total and Statoil made gas elephant has emerged in the gas to where it’s needed. Asia and a joint announcement to reporters warm waters off East Africa, which

Australia will account for 74% of in August 2012 that ‘excessive costs may hold at least 100tcf and is still all the LNG expenditures over the had made it unfeasible to develop in the discovery and delineation next ? ve years. Douglas-Westwood the ? eld’. However, two months process. Wood Mackenzie forecasts that by 2018, $38 billion later at a press conference, Russian estimates that there is at least 80tcf will be spent on FLNG vessels and president Vladimir Putin said: ‘The recoverable off Mozambique and a further US$15 billion on ? oating investment decision is planned to 18tcf off neighboring Tanzania. With regasi? cation terminals. be taken in the near future, so we the expectation that recoverable On the supply side, nothing are talking project launch before reserves will eventually rise much is more spectacular than Shell’s 2017.’ Then, in mid-December, higher; Mozambique is likely to

Prelude FLNG ? oating project. Gazprom said a tender would be become the world’s fourth largest

Shell of? cially began construction held this month for the construction gas holder after Qatar, Iran and on the system in October 2012. of a large 30 million tonnes/year Russia.

Development drilling is expected to begin this year in the Prelude and Australian LNG projects coming onstream 2012-2020.

Name Operator Type Capacity (million t/year)

Concerto gas ? elds in the Browse basin, 125 miles off the northwest

Pluto LNG Woodside Offshore to shore 4.3 coast of Australia. The massive

Greater Gorgon LNG Chevron Offshore to shore 15.0 structure will be 488m (1601ft) in

Queensland Curtis LNG BG Group CBM 8.5 length and weigh around

GLNG Santos CBM 7.8 600,000 tonnes, six times more

APLNG APLNG CBM 9.0 than the largest aircraft carrier; ? rst

Wheatstone LNG Chevron Offshore to shore 8.9

LNG is scheduled for 2017. Shell intends its FLNG design to be the

Ichthys Inpex Offshore to shore 8.4 ? rst of many. There are a few other

Prelude FLNG Shell FLNG 3.6 stranded-gas candidates offshore

Browse LNG Woodside Offshore to shore 12.0

Australia, such as GDF Suez/Santos’

Bonaparte FLNG GDF Suez FLNG 2.5

Bonaparte development, PTT’s Cash

Cash Maple FLNG PTT LNG FLNG 2.0 and Maple ? elds, and Woodside’s

Arrow LNG Arrow Energy CBM 8.0

Sunrise project.

Elsewhere in Australia, there are

Gladstone LNG LNG Ltd CBM 1.5 seven facilities under construction; all are expected onstream 2014-17.

Source: Douglas Westwood World LNG Market Forecast 2012-16.

OE | January 2013 oedigital.com 40 oe_forecasts4.indd 40 03/01/2013 13:35