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Technip Energies, KBR See Liquids Production, Savings Give Boost To Port of New Orleans, Cleancor Partner to Advance LNG Bunkering 8 THURSDAY, AUGUST 19, 2021 - VOL. 2, NO. 216 Daily Rundown • FLNG projects are seen helping to cut offshore flaring • The Port of New Orleans is advancing LNG bunkering services • -- European natural gas prices fell on indicators that NS2 could soon start operations See The Offtake on Pg. 8 for Other LNG Highlights FLOATING LNG Technip Energies, KBR See Liquids Production, Savings Give Boost to FLNG Floating liquefied natural gas (FLNG) projects could offer a cost-competitive alternative to offshore venting and flaring as opera- tors increasingly take aim at their carbon footprints, industry experts said at the Offshore Technology Conference in Houston this week. Around 30% of offshore associated gas is flared globally, said Technip Energies SE’s Jean-Philippe Dimbour, director of business development and offshore technology. That presents an opportunity for FLNG to monetize wasted gas, he said. In addition, liquids pro- duction could make floating projects even more economic. “When the gas composition is rich, even more revenues can be generated from production on sales of higher-value byproduct liquids,” he said. Those liquids could include condensate, natural gas liquids (NGL) and liquefied petroleum gas (LPG). Offshore oil producers have a number of options to dispose of their associated gas, including injection or piping ...cont' pg. 4 © COPYRIGHT INTELLIGENCE PRESS 2021 | @NGInews | FOR BREAKING NEWS UPDATES VISIT NATGASINTEL.COM/LNG THURSDAY, AUGUST 19, 2021 2 © COPYRIGHT INTELLIGENCE PRESS 2021 | @NGInews | FOR BREAKING NEWS UPDATES VISIT NATGASINTEL.COM/LNG THURSDAY, AUGUST 19, 2021 © COPYRIGHT INTELLIGENCE PRESS 2021 | @NGInews | FOR BREAKING NEWS UPDATES VISIT NATGASINTEL.COM/LNG 3 THURSDAY, AUGUST 19, 2021 . from FLOATING LNG - Technip Energies, KBR See Liquids Production, pg. 1 it onshore. However, the options can be costly or difficult to build depending on where the field is located, Dimbour said. He painted a picture of an alternative, central LNG hub that could be connected to floating production units in deepwater fields or shallow-water platforms. The scheme could benefit new offshore oil developments, “where the associated gas management can become a showstopper against the greenhouse gas emissions,” he said. ...cont' pg. 6 4 © COPYRIGHT INTELLIGENCE PRESS 2021 | @NGInews | FOR BREAKING NEWS UPDATES VISIT NATGASINTEL.COM/LNG THURSDAY, AUGUST 19, 2021 © COPYRIGHT INTELLIGENCE PRESS 2021 | @NGInews | FOR BREAKING NEWS UPDATES VISIT NATGASINTEL.COM/LNG 5 THURSDAY, AUGUST 19, 2021 [In the Know: Subscribe to NGI’s All New Access and gain the ability to read every article NGI publishes daily.] “The monetization of associated gas will become an enabler for such oil development.” Technip Energies has led engineering efforts on several FLNG projects including Royal Dutch Shell plc’s Prelude unit offshore Australia and the Eni SpA-operated Coral South project under construction offshore Mozambique. The company recently developed a “Megamodule” concept for FLNG topsides to reduce project costs and schedules. ...cont' pg. 7 6 © COPYRIGHT INTELLIGENCE PRESS 2021 | @NGInews | FOR BREAKING NEWS UPDATES VISIT NATGASINTEL.COM/LNG THURSDAY, AUGUST 19, 2021 “The key features are based on the design and construction of large, integrated modules with multiple functionalities instead of multiple modules,” Dimbour said. The concept could allow operators to produce more LNG with the same amount of space as traditional projects, he added. Dimbour presented a comparison between an LNG-only floating project versus a project that would include liquids production using the Megamodule concept. The project including liquids production would require a 6% increase in capital expenditures, but ...cont' pg. 8 © COPYRIGHT INTELLIGENCE PRESS 2021 | @NGInews | FOR BREAKING NEWS UPDATES VISIT NATGASINTEL.COM/LNG 7 THURSDAY, AUGUST 19, 2021 THE OFFTAKE: LNG IN BRIEF A ROUNDUP OF NEWS & COMMENTARY FROM NGI’S LNG INSIGHT • European natural gas prices fell Thursday amid signs that Russia could begin shipping natural gas to the continent via the Nord Stream 2 (NS2) pipeline this year. Gazprom PJSC said the line is 99% finished and would be capable of shipping 5.6 billion cubic meters this year. NS2 could help provide the continent with more natural gas as inventories are scarce heading into winter. • Asian spot prices followed declines in Europe and were assessed at under $17/MMBtu for September delivery. • European prices tumbled 10% Wednesday after German gas grid operator Gascade falsely reported that gas had they may be offset by a 20% increase in returns, he said. The carbon started flowing on NS2. The error was corrected, but footprint could also be reduced, he added. EBW Analytics Group also said it briefly pushed Henry Hub futures lower before they rebounded and finished Costs Rise higher on the day. Folding in additional production on an FLNG project isn’t a • Malaysia’s state-owned Petroliam Nasional Berhad, aka new concept. Shell’s Prelude is already capturing liquids, said KBR Petronas, has delivered its first carbon-neutral LNG Inc.’s Shane Tierling, senior technical leader. However, he told the cargo to Japan. Petronas supplied the cargo from Bin- audience that Prelude is also one of the highest-cost projects in the tulu LNG to Shikoku Electric Power Co. Inc. Emissions FLNG space on a per-metric ton basis at $2,000. By comparison, the related to the cargo from its production, transporta- Tango FLNG project, which is smaller and built on a barge, was built tion and liquefaction were offset with renewable-based at a cost of $600/metric ton, according to Tierling. carbon credits certified through theVerified Carbon However, Prelude represents the “gold standard” when it comes Standard program. to FLNG, Tierling added. Prelude uses dual-mix refrigeration tech- “Our mission is to accelerate the adoption of low carbon fueling nology, and it is able to withstand Category 5 hurricanes, he said. solutions and this constitutes an exciting opportunity to not only advance Other FLNG operators have been able to achieve cost savings by the region’s first such project, but also to contribute to the decarbonization repurposing LNG tankers. Golar LNG Ltd. was the first reuse an LNG of the maritime sector,” said Cleancor CEO Jeff Woods. tanker with the Hilli FLNG unit off Cameroon, which came online in 2018. “Call it saved by the bell because you’re taking an end-of-life life [Need natural gas forward curves? NGI offers 70 curves by carrier and finding new use for it,” Tierling said of the Hillii project. month going out 10 years (120 data points per curve) as fixed price or basis differentials to the Henry Hub. Learn more.] By reusing an old vessel, Golar was able to shave 39% off steel ...cont' pg. 9 savings compared to a newbuild, Tierling said. It also resulted in a 33% reduction in greenhouse gas emissions related to facility construction, he added. Golar is looking to ramp up production from Hilli next year by 200,000 tons with total utilization at 1.4 million tons. The recent agreement with its upstream partners included an option to grow capacity by another 400,000 tons from 2023 to 2026.n SMALL-SCALE LNG Port of New Orleans, Cleancor Partner to Advance LNG Bunkering The Port of New Orleans and Cleancor Energy Solutions LLC have signed a memorandum of understanding (MOU) to develop liquefied natural gas (LNG) fueling services for ships in the port. Cleancor, which distributes small-scale LNG and com- pressed natural gas, would work with the port to provide the super- chilled fuel for bunkering. The port would provide the company with data, logistics, customer contacts and marketing support. 8 © COPYRIGHT INTELLIGENCE PRESS 2021 | @NGInews | FOR BREAKING NEWS UPDATES VISIT NATGASINTEL.COM/LNG THURSDAY, AUGUST 19, 2021 See NGI’s LNG Glossary Here Port officials said Cleancor would work to educate its customers and other local stakeholders about the environmental and financial benefits of LNG bunkering. The MOU would also help to develop bunkering infra- structure that aligns with the port’s long-term planning. In addition, Cleancor would provide LNG bunkering options that are compatible with forecasted customer demand in the port and help it obtain federal, state and other regulatory authorizations to develop necessary infrastructure. The port also is seeking grants to help incentivize the use of LNG as a marine fuel. It would also work with Cleancor to attract customers and others that already use LNG as a marine fuel. A proposed expansion outside St. Bernard Parish in Louisiana to build a $1.5 billion container terminal is also expected to support the LNG bunkering initiative. The port’s expansion is aimed at handling rising container volumes and attracting more international container business. Demand for LNG bunker fuel is growing, particularly among shipowners overseas. International regulators have tightened emis- sions standards, and the maritime industry has increasingly turned to LNG as a fuel source because of its lower emissions profile and cost competitiveness. The International Maritime Organization has estab- lished the goal of reducing greenhouse gas emissions from shipping by at least 50% by 2050 compared to 2008, and many LNG-fueled ships are expected to be produced going forward. LNG bunkering infrastructure is expanding as shipowners look to displace dirtier fuels. LNG can now be delivered to vessels at 96 ports across the world. Another 55 ports are in the process of facilitating LNG bunker- ing investments and operations, according to the trade group SEA-LNG. The Gulf Coast’s first dedicatedLNG bunkering port is advanc- ing off Pelican Island, TX, in Galveston Bay. Only one tank-to-ship bunkering service is in operation in the United States at Port Fourchon in Louisiana, according to SEA-LNG. Others are being developed in California, Florida, New York and Washington. n NGI’s LNG Insight is published daily, each business day by Intelligence Press, Inc.
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