DOCSLIB.ORG

Statoil Gas Seminar

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Statoil Gas Seminar Creating value in times of low commodity prices Statoil gas seminar, 18 February 2016, London Jens Økland, EVP, Marketing, Midstream & Processing (MMP) Classification: Internal 2012-10-24 Our industry is in a challenging situation • Low oil and gas prices Commodity prices 140 120 Climate 100 80 • High costs 60 USD/boe 40 20 0 • Oil and gas in a 2013 2014 2015 2016 Oil Gas (NBP) decarbonising world Costs 2 Sources: Platts, Heren, IHS Statoil’s mid- and downstream business is adding value • With low commodity prices, the relative MMP1) - adjusted earnings2) importance of our mid- and downstream activity increases 25 20 • Through Asset Backed Trading, the value of our products can be increased 15 10 Billion NOK • MMP earnings in 2015 exceeds NOK 20 5 billion and accounts for nearly 30% of Statoil’s adjusted earnings 0 2012 2013 2014 2015 MMP 1) Marketing, Midstream & Processing (MMP). Before 2015: Marketing, Processing and Renewables (MPR) 2) Before tax 3 Source: Statoil Asset Backed Trading – an extensive toolbox for value creation • Our most successful trading activities imply Adjusted earnings 1) MMP - 2015 use of physical infrastructure or contractual assets − Storages − Refineries − Terminals − Shipping − Rail − Capacity bookings • Active use of assets add flexibility and optionality to our portfolio and increase our Natural gas Europe Natural gas US competitiveness Liquids Other 1) Before tax 4 Source: Statoil Resetting costs in MMP Continue efforts to become more competitive A sustained culture of continuous improvement Respond to complexity with simplicity 5 Opportunities in European gas markets • Europe has a large and growing supply gap • Norwegian gas is well placed as a cost-efficient supply source for the long term • Due to its cleanness and versatility, gas will remain a key part of European energy supply Outlook for EU demand and indigenous supply Outlook for Norwegian gas production 600 500 400 Norway Import needs 300 Indigenous EC reference 200 EC 2030 policies 100 IEA WEO 2015 0 2012 2020 2025 2030 6 Sources: IEA, European Commission, Norwegian Petroleum Directorate 7 European gas market outlook Statoil gas seminar, 18 February 2016, London Olav Kolbeinstveit, Vice President, Statoil Market Analysis Classification: Internal 2012-10-24 European gas price drivers – more than oil Price fall less severe than for oil Brent and global gas prices USD/MMBtu Key European gas market drivers 25 . Demand Forward prices* • Competing fuels 20 • Temperature 15 FW market1) . Supply 10 • Flexible long-term contracts • LNG supply 5 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 Japan - Korea Spot LNG NBP spot (UK) Henry Hub (US) Brent 1) Forward prices as of 15 February 2016, NYMEX Henry Hub Forward 12 February 2016 9 2) Sources: Platts, ICE, NYMEX, Statoil ASA Growing global LNG liquefaction capacity The LNG market is cyclical LNG production capacity BCM US LNG exports: 600 . Limited volumes in 2016 500 . Significant volumes contracted by portfolio players 400 . Tolling contracts 300 200 Current LNG price level does not 100 justify new investments 0 2010 2015 2020 Existing capacity Australia US Others 10 Source: IHS CERA, Pira, Statoil ASA US LNG currently on the margin in Europe US LNG will flow according to price signals – or at all? Short-run marginal cost ranges for US LNG supply to Asia and Europe Asia North America Europe USD/MMBtu USD/MMBtu USD/MMBtu 5.3** 4.5** 1.7 - 3 1 - 1.5 4.8 - 6.1 4.1 - 4.6 0.4 2.7* JKM Shipping HH Shipping/Regas NBP * NYMEX Henry Hub Forward curve for Calendar 2017 12 February 2016 11 ** ICE NBP Forward curve for Calendar 2017 15 February 2016 and Platts JKM spot Source: NYMEX, ICE, Platts, Pira, Statoil ASA US LNG most expensive source to Europe Financial Times 3 February 2016 12 EU28 gas consumption has bottomed out Gas to power is expected to recover EU 28 gas demand per sector . Historic drop in consumption BCM mainly related to gas to power 600 500 . No growth expected in the 400 buildings sector 300 . Stable demand in the industry 200 sector 100 0 2005 2010 2014 2015 2016E Buildings Industry Others Electricity/CHP/Heat Plants 13 Sources: European TSO’s, ENTSOG, Eurostat, IEA, CCGTs1) in the UK competitive with coal plants Carbon tax drives gas to power recovery UK Coal switching range and gas-to-power consumption . Gas to power demand is price sensitive p/th mcm/d 100 100 90 90 80 FW 80 . market2) Growing political willingness to 70 70 curb use of coal 60 60 50 50 40 40 30 30 20 20 10 10 0 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 Coal Switching Range (LHS) Gas-to-power consumption (RHS) NBP (LHS) 1) Combined Cycle Gas Turbine (CCGT) 2) Forward prices as of 15 February 2016 14 Sources: ICIS Heren, ICE, Statoil ASA EU 28 natural gas imports increasing Record low indigenous production in 2015 Indigenous production EU 28 EU 28 gas imports BCM BCM 250 400 90% 200 300 80% 150 200 70% 100 100 60% 50 0 0 50% 2005 2010 2014 2015 2016E 2005 2010 2014 2015 2016E LNG North Africa Russia Norway Imports in % of consumption 15 Sources: European TSO’s, Eurostat, IEA, PIRA Dutch gas production capped Seasonal flexibility hit Groningen production 60 . Groningen BCM • Production cap 27 bcm 40 • Was key source of flexibility 20 0 2005 2010 2014 2015 2016E . Flexible Norwegian gas 8 Seasonal output important BCM/month 6 Min-Max 5Y 4 5Y Average 2 2015 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 16 Source: NAM, Dutch Energy ministry Concluding remarks . Challenging period – risks to the upside . LNG connecting regional markets . Increasing import needs to Europe 17 18 Capturing business opportunities Statoil gas seminar, 18 February 2016, London Tor Martin Anfinnsen, Senior Vice President, Marketing and Trading Classification: Internal 2012-10-24 A major gas player with Europe as gravity point NCS NCS Melkøya LNG • Largest gas producer on NCS1) • Pipeline gas to North West Europe • Melkøya LNG facility USA • Shale gas production in Marcellus • Deliveries of gas to Toronto and US shale gas New York City Statoil offices with natural gas business activities 20 1) Norwegian continental shelf (NCS) Statoil’s gas is well positioned in Europe Access to an integrated and flexible Large gas resource potential Proximity to markets pipeline infrastructure on the NCS Polarled Pipeline LNG Åsgard transport Ormen Lange 1450 Nyhamna Norway 400 – 1200 Tampen Link Troll km Russia 3 1922 6000 – 7000km Kollsnes bn Sm Vesterled Kårstø Sleipner Draupner St Fergus Europipe II Ekofisk Europipe I Norpipe Langeled Easington Zeepipe Emden/ 625 Franpipe Dornum Caspian Zeebrugge Dunkerque Reserves * Algeria Region Contingent resources in fields/discoveries ~3000 km ~4000 km Undiscovered * Statoil share of NCS reserves ~34% 21 Source: Norwegian Petroleum Directorate (NPD) resource account as of 31.12.2014 Our marketing strategy • Developments in gas market give new Statoil’s contract portfolio has changed sales channels and opportunities Oil indexed − Transformation away from oil-indexing Gas indexed − Unbundling of the value chain and third Other party access 2010 2014 − Development of liquid hubs European gas prices are converging 70 • Long-term contracts are still important, 60 50 but take on a modernised form DE 40 IT 30 UK EUR/MWh 20 NL 10 0 2011 2012 2013 2014 2015 2016 22 Source: ICIS Heren Capturing value at the trading desk Capitalise on NCS Manage risk in Monetise total portfolio equity gas position contract portfolio through trading Optimising production in Keep volume commitments and Execute optimisation strategies time, volume and geography safeguard cash flow and trade around total portfolio 23 Seising upstream opportunities on the NCS Aasta Hansteen Providing services to NCS peers Polarled • Gas modulation, transport and back-up services • Dispatching services • Blending services to meet quality specs • Fuel and injection gas 24 Taking opportunities in a global LNG market • Highly flexible LNG portfolio creating new business opportunities • The LNG protfolio is made up predominantly of equtiy volumes combined with third party volumes • The global LNG market provides trading opportunities for our LNG portfolio 25 Gas meets UK’s energy needs • Coal phase out and falling indigenous production is creating an energy gap • Gas is key to a stable energy solution Coal phase out gives energy gap in UK Growing UK import need 100% Generation gap 120 80% Coal 100 Imports 60% 80 ? Other 60 40% Gas bcm 40 20% Renewables 20 Nuclear 0% 0 2013/2014 Late 2020s 2000 2005 2010 2015 2020 2025 2030 Net gas production Net gas demand 26 Concluding remarks . Despite current market prices, our outlook for gas in Europe remains positive . Statoil’s gas activity has an extensive toolbox of value-creating options . Coal phase out in the UK is giving new opportunities for gas 27 28 Longer-term gas market perspectives Statoil gas seminar, 18 February 2016, London Eirik Wærness, Senior Vice President and Chief Economist Classification: Internal 2012-10-24 Long-term Energy Perspectives Short-term volatility – long-term trends, across different scenarios Commodity prices (real Dec 2015, indexed Feb 1997=100) 800 Brent HH 600 NBP Reform, 2.8% Coal 2012 Renewal, 2.9% 400 Rivalry, 2% 200 0 1997 2002 2007 2012 30 Source: Thomson Reuters Datastream It takes decades to change the global fuel mix New renewables set for rapid growth, robust gas demand across scenarios World fuel mix 1972 - 2040 100 % . Economic growth and structure . Energy efficiency improvements 80 % New renewables . Demography, urbanisation Biomass & waste 60 % Hydro . Energy and climate policies Nuclear . 40 % Geopolitics, energy security Gas . Fuel costs, availability, prices Oil 20 % Solid fuels . Technological evolution, costs 0 % . Consumer preferences 1972 2012 Reform Renewal Rivalry 2040 31 Source: IEA (history), Statoil (projections) Paris COP21 – a breakthrough? Achieving the targets entails a significant role for natural gas .
Load more

Recommended publications
  • Last Ned Brosjyre Om Prosessanlegget På Kollsnes
    FAKTA Kollsnes prosessanlegg Som en oase lyser prosessanlegget opp kystlandskapet en sensommerkveld Kollsnesanlegget spiller en nøkkelrolle når det gjelder transport av gass i store mengder fra felt i norsk del av Nordsjøen til kunder i Europa. Gass fra Kollsnes utgjør nærmere 40 prosent av totale norske gass- leveranser. De enorme gassmengdene i Troll-feltet var starten på det hele. Kollsnes prosessanlegg er i dag et Selve prosessanlegget består i hovedsak Troll er selve hjørne- senter for behandling av gass fra feltene av tre duggpunktsanlegg for behand- steinen i norsk gass- Troll, Fram, Visund og Kvitebjørn. På ling av henholdsvis gass, kondensat og Kollsnes blir gassen renset, tørket og monoetylenglykol (MEG). I tillegg finnes produksjon. Da feltet komprimert før den sendes som tørrgass et eget anlegg for utvinning av flytende gjennom eksportrør til Europa. I tillegg våtgass (Natural Gas Liquids -NGL). ble erklært drivverdig i transporteres noe gass i eget rør til I anlegget blir våtgass (NGL) først Naturgassparken, vest i Øygarden, der skilt ut. Deretter blir tørrgass trykket 1983, kom spørsmålet Gasnor behandler og distribuerer gass opp ved hjelp av de seks eksport- om hvilken vei de til innenlands forbruk. Kondensat, eller kompressorene og sendt ut i transport- våtgass, som er tyngre komponenter i systemet via eksportrør-ledningene enorme gassmengdene gassen, føres via Stureterminalen i rør Zeepipe IIA og IIB. til Mongstad (Vestprosess). Her videre- skulle ta for å komme behandles produktet og fraksjoneres til trygt fram til brukerne. propan, butan og nafta. Løsningen ble et mottaksanlegg på Kollsnes i Øygarden kommune nordvest 40% Gass fra Kollsnes utgjør nærmere for Bergen.
    [Show full text]
  • Oil and Gas Delivery to Europe
    Oil and gas delivery to Europe An Overview of Existing and Planned Infrastructures GOUVERNANCE EUROPÉENNE ET GÉOPOLITIQUE DE L’ÉNERGIE 4 bis Susanne NIES l es é tud es The French Institute for International Relations (Ifri) is France’s premier centre for independent research, information, and debates on today’s most important international issues. Founded in 1979 by Thierry de Montbrial, Ifri is an officially recognized organization (1901 law). It is not beholden to any administrative authority, independently chooses its projects, and regularly publishes its works. Ifri brings together, through studies and debates and in an interdisciplinary manner, political and economic decision-makers, researchers and experts from the global level. With its Brussels branch (Ifri Brussels), Ifri is one of the rare French think-tanks that is at the heart of European debates. * Site Int 1 © Ifri Contents ABSTRACT ......................................................................................... 4 INTRODUCTION ................................................................................... 5 I. THE CONSTRUCTION OF GAS AND OIL INFRASTRUCTURES IN EUROPE11 Summary.................................................................................................11 1. From the Discovery of Resources to the Construction of Separate East-West Networks .......................12 2. Developing Infrastructures in the Soviet Block, and their Extension to Western Europe .............................................16 3. Conclusion: Continuity and Ruptures.............................................19
    [Show full text]
  • Processing Plant Like an Oasis, the Processing Plant Lights up the Coastal Landscape in Late Summer Evenings
    FACTS Kollsnes Processing Plant Like an oasis, the processing plant lights up the coastal landscape in late summer evenings. The Kollsnes processing plant plays a key role in the transport of large quanti- ties of gas from fields in the Norwegian sector of the North Sea to customers in Europe. Gas from Kollsnes accounts for around 40 per cent of all Norwegian gas deliveries. The enormous quantities of gas in the Troll field started it all. Today, Kollsnes processing plant acts as goes further treatment and is fractioned Troll is the very corner- a centre for processing of gas from the into propane, butane and naphtha. stone of Norwegian Troll, Fram, Visund and Kvitebjørn fields. At Kollsnes, the gas is cleaned, dried and The processing plant itself consists gas production. When compressed before being transported as primarily of three dew point plants for dry gas through export pipes to Europe. treating gas, condensate and mono- the field was declared In addition, some gas is transported ethylene glycol (MEG) respectively. in separate pipes to Naturgassparken There is also a separate plant for the commercially viable in western Øygarden, where Gassnor production of Natural Gas Liquids in 1983, the question treats and distributes gas for domestic (NGL). In the plant, the wet gas (NGL) use. Condensate, or wet gas, which is is separated out first, and then the dry arose of what route made up of heavier components in the gas is pressurised using the six export gas, is transported via the Sture ter- compressors and sent into the transport the enormous quanti- minal through a pipeline to Mongstad system via the export pipelines Zeepipe ties of gas should take (Vestprosess).
    [Show full text]
  • Interim Report IR-00-054 Diffusion, Costs and Learning in The
    International Institute for Applied Systems Analysis Schlossplatz 1 • A-2361 Laxenburg • Austria Telephone: (+43 2236) 807 342 • Fax: (+43 2236) 71313 E-mail: [email protected] • Internet: www.iiasa.ac.at Interim Report IR-00-054 Diffusion, Costs and Learning in the Development of International Gas Transmission Lines Jimin Zhao ([email protected]) Approved by Leo Schrattenholzer Project Leader, Environmentally Compatible Energy Strategies (ECS) Project December 4, 2000 Interim Reports on work of the International Institute for Applied Systems Analysis receive only limited review. Views or opinions expressed herein do not necessarily represent those of the Institute, its National Member Organizations, or other organizations supporting the work. Contents 1 INTRODUCTION .............................................................................................................................1 2.1 EXISTING GAS PIPELINES................................................................................................................2 Europe .............................................................................................................................................................. 2 Asian Pacific Region ........................................................................................................................................ 4 2.2 PLANNED AND PROPOSED GAS PIPELINE PROJECTS ........................................................................5 Europe .............................................................................................................................................................
    [Show full text]
  • Diffusion, Costs and Learning in the Development of International Gas Transmission Lines
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by International Institute for Applied Systems Analysis (IIASA) Diffusion, Costs and Learning in the Development of International Gas Transmission Lines Zhao, J. IIASA Interim Report December 2000 Zhao, J. (2000) Diffusion, Costs and Learning in the Development of International Gas Transmission Lines. IIASA Interim Report. IR-00-054 Copyright © 2000 by the author(s). http://pure.iiasa.ac.at/6192/ Interim Report on work of the International Institute for Applied Systems Analysis receive only limited review. Views or opinions expressed herein do not necessarily represent those of the Institute, its National Member Organizations, or other organizations supporting the work. All rights reserved. Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage. All copies must bear this notice and the full citation on the first page. For other purposes, to republish, to post on servers or to redistribute to lists, permission must be sought by contacting [email protected] International Institute for Applied Systems Analysis Schlossplatz 1 • A-2361 Laxenburg • Austria Telephone: (+43 2236) 807 342 • Fax: (+43 2236) 71313 E-mail: [email protected] • Internet: www.iiasa.ac.at Interim Report IR-00-054 Diffusion, Costs and Learning in the Development of International Gas Transmission Lines Jimin Zhao ([email protected]) Approved by Leo Schrattenholzer Project Leader, Environmentally Compatible Energy Strategies (ECS) Project December 4, 2000 Interim Reports on work of the International Institute for Applied Systems Analysis receive only limited review.
    [Show full text]
  • PIPELINES and LAND FACILITIES 145 Pipelines
    Pipelines and 15 land facilities Pipelines Gassled . 146 Europipe I . 146 Europipe II . 146 Franpipe . 147 Norpipe Gas . 147 Oseberg Gas Transport (OGT) . 147 Statpipe . 147 Vesterled (formerly Frigg Transport) . 148 Zeepipe . 148 Åsgard Transport . 148 Draugen Gas Export . 149 Grane Gas Pipeline . 149 Grane Oil Pipeline . 150 Haltenpipe . 150 Heidrun Gas Export . 151 Kvitebjørn Oil Pipeline . 151 Norne Gas Transport System (NGTS) . 152 Norpipe Oil AS . 152 Oseberg Transport System (OTS) . 153 Sleipner East condensate . 154 Troll Oil Pipeline I . 154 Troll Oil Pipeline II . 155 Land facilities Bygnes traffic control centre . 156 Kollsnes gas treatment plant . 156 Kårstø gas treatment and condensate complex . 156 Kårstø metering and technology laboratory . 157 Mongstad crude oil terminal . 157 Sture terminal . 158 Tjeldbergodden industrial complex . 158 Vestprosess . 159 -12˚ -10˚ -8˚ -6˚ -4˚ -2˚ 0˚ 2˚ 4˚ 6˚ 8˚ Norne 66˚ Heidrun 62˚ Åsgard Kristin Draugen PIPE 15 FAROE TEN ISLANDS AL H 64˚ Tjeldbergodden 60˚ Trondheim ÅSGARD TRANSPORT Murchison Snorre Statfjord Visund SHETLAND Gullfaks Kvitebjørn Florø 62˚ Huldra Veslefrikk Tune Brage Troll Mongstad THE ORKNEYS Oseberg OTS Stura STA Kollsnes 58˚ Frigg TPIPE Frøy Heimdal Bergen NORWAY Grane ll B IPE ZEEPIPEEEP ll A 60˚ Brae Z Kårstø Sleipner St. Fergus STATPIPE Draupner S/E Stavanger Forties 56˚ Ula SWEDEN Gyda 58˚ Ekofisk Valhall Hod NORPIPE EUROPIPE EUROPIPE 54˚ Teesside DENMARK ll NORPIP l 56˚ E GREAT 52˚ Bacton BRITAIN ZEEPIPE l CON FRANPIPE Emden INTER- 54˚ NECTOR THE GERMANY NETHERLANDS Zeebrugge 50˚ Dunkerque Existing pipeline 52˚ BELGIUM Projected pipeline Existing oil/condensate pipeline FRANCE Projected oil/condensate pipeline 0˚ 2˚ 4˚ 6˚ 8˚ 10˚ 12˚ The map shows existing and planned pipelines in the North and Norwegian Seas.
    [Show full text]
  • The Troll Story - EASEE - GAS March 2016
    The Troll Story - EASEE - GAS March 2016 Knut Ivar Pettersen, VP Production Troll A 1 2 Classification: Internal 2014-10-31 The Troll Story - EASEE - GAS March 2016 Knut Ivar Pettersen, VP Production Troll A EASEE March 2016 3 Norwegian gas is key to European energy security Access to an integrated Large gas resource Proximity to markets and flexible pipeline potential on the NCS* infrastructure Pipeline Polarled LNG 1450 bn Sm3 Åsgard transport 1922 Norway Ormen Lange 3 400 – 1200 km Nyhamna bn Sm Russia Tampen Link Troll 6000 – 7000km Kollsnes Vesterled Kårstø 625 Sleipner Draupner 3 St Fergus bn Sm Europipe II Ekofisk Europipe I Norpipe Langeled Reserves Easington Emden/ Zeepipe Contingent resources Caspian Franpipe Dornum in fields/discoveries Zeebrugge Algeria Region Dunkerque Undiscovered ~3000 km ~4000 km Only one third of NCS resources have been produced to date Source: Norwegian Petroleum Directorate (NPD) resource account as of 31.12.2014 5 Classification: Internal 20 oktober 2015 © Statoil ASA Mongstad Kollsnes The Troll Story The Troll Story Troll Gas: A North Sea Giant Troll C − Located 80 km northwest of Bergen − Gas Reserves 1400 GSm3 Troll Oil: The impossible made possible Troll B − 2+ billion barrels − 120.000 bbls/day Kollsnes • Troll Area: Commercialize tie-ins Troll A − Fram Vest 60.000 bbls/day at peak − Fram Øst 55.000 bbls/day at peak − Other discoveries and prospects 20 km 6 Troll – gas for Europe • Gas is exported through three 36” pipelines from Troll A to Kollsnes • The gas is processed at Kollsnes and sent
    [Show full text]
  • The European Gas and Oil Market: the Role of Norway
    NoteNote dede l’Ifril’Ifri The European Gas and Oil Market: The Role of Norway Florentina Harbo October 2008 Gouvernance européenne et géopolitique de l’énergie The Institut Français des Relations Internationales (Ifri) is a research center and a forum for debate on major international political and economic issues. Headed by Thierry de Montbrial since its founding in 1979, Ifri is a non-governmental and a non-profit organization. As an independent think tank, Ifri sets its own research agenda, publishing its findings regularly for a global audience. Using an interdisciplinary approach, Ifri brings together political and economic decision-makers, researchers and internationally renowned experts to animate its debate and research activities. With offices in Paris and Brussels, Ifri stands out as one of the rare French think tanks to have positioned itself at the very heart of European debate. The opinions expressed in this text are the responsibility of the authors alone. ISBN : 978-2-86592-397-7 © All rights reserved, Ifri, 2008 IFRI IFRI-BRUSSELS 27 RUE DE LA PROCESSION RUE MARIE-THÉRÈSE, 21 75740 PARIS CEDEX 15 1000 - BRUSSELS, BELGIUM TÉL. : 33 (0)1 40 61 60 00 TEL: 00 (+32) 2 238 51 10 FAX: 33 (0)1 40 61 60 60 E-MAIL: [email protected] EMAIL : [email protected] WEBSITE: ifri.org Gouvernance européenne et géopolitique de l’énergie The original feature of this program is to integrate European governance and energy geopolitics. The program highlights emerging key issues and delivers insight and analysis in order to educate policy makers and influence public policy.
    [Show full text]
  • Registration Document for the Njord Gas
    PROSPECTUS ______________________ REGISTRATION DOCUMENT FOR THE NJORD GAS INFRASTRUCTURE AS NOK EQUIVALENT 10,000,000,000 SECURED TERM NOTE PROGRAMME ______________________ Arrangers UBS Investment Bank and The Royal Bank of Scotland 6 June 2011 IMPORTANT NOTICE .................................................................................................................... 3 1 RISK FACTORS .............................................................................................................. 5 2 PERSONS RESPONSIBLE ........................................................................................... 15 3 IMPORTANT INFORMATION .................................................................................... 16 4 DESCRIPTION OF THE ISSUER ................................................................................. 17 5 EUROPEAN GAS MARKET ........................................................................................ 27 6 THE GASSLED ASSETS .............................................................................................. 29 7 REGULATORY FRAMEWORK OF GASSLED ......................................................... 38 8 MATERIAL APPROVALS AND AGREEMENTS ...................................................... 44 9 DESCRIPTION OF THE GUARANTOR ..................................................................... 54 10 FINANCIAL INFORMATION RELATING TO GASSLED ....................................... 56 11 FINANCIAL INFORMATION ON THE ISSUER ......................................................
    [Show full text]
  • Troll on Stream; the Story and Its Perspectives))
    NEI-NO--806 NO9705258 ^^ _ NORTHERN ONS SEAS ONS CONFERENCE 1996 27-30 AUGUST STAVANGER. NORWAY I'11'">11111NO9705258 Paper no. Cl Session: NATURAL GAS IN A CHANGING MARKET Paper title: «Troll on stream; The story and its perspectives)) Speaker: Peter Mellbye Statoil, Norway MASTER tmmmnw OF im DOCUMENT » UMJMITED DISCLAIMER Portions of this document may be lUegible in electronic Image products. Images are produced from the best available origina! document Troll on stream The story and its perspectives Offshore Northern Seas Peter Mellbye Stavanger Executive Vice President 28 August 1996 Statoil The Troll Platform Concepts POO 1986 Version Chosen Concept 1986 Plan for development and operation - fully integrated monotower platform (basis for Storting 1987 approval) - Weights (1000 tonnes): Gravity Base Structure 1000, topside 72 - Export capacity 27 BCM/y - Offshore personnel: 200 - Field investments: 39 bill. 1996-NOK (incl. pipelines) - Onshore gas processing was considered, but rejected As the planning continued, extensive studies and discussions on alternative development concepts were performed in the licence. Main purpose: Reduce costs The development operator Shell and Statoil agreed in 1988 to re-examine the possibility of onshore processing. Due to the new multiphase technology, shipping of the unprocessed gas to Koilsnes some 60 km away was proven possible Main issues considered - pipeline aspects : - Predict and control the unprocessed well stream (condensate, gas, water) - Control hydrating process - Monitor corrosion Final
    [Show full text]
  • Facts 2002 the Norwegian Petroleum Sector
    DISCLAIMER Portions of this document may be illegible in electronic image products. Images are produced from the best available original document. Facts 2002 The Norwegian petroleum sector Ministry of Petroleum and Energy Visiting address: Einar Gerhardsens plass 1 Postal address: P 0 Box 8148 Dep, N-0033 Oslo Tel c47 22 24 90 90 Fax +47 22 24 95 65 http://www.mpe.dep.no (English) http://www.oed.dep.no (Norwegian) E-mail: [email protected] Editor: Tore Fugelsnes, MPE English rditur: Rolf E Gooderhani Edition completed: March 2002 Iayout/design: Marketing Serviccs AS Illustration: Inger Farvik Photos: Q Terjc S Knudsen, Norsk Hydro ASA, 0 Oy-vind Hagm, Statoil ASA, field photos from operators’ archives. Paper: Cover: Munken Lynx 240 g. inside pages: Uni Matt 115 g. Printer: BK Vestfold Grafiskr Circulation: 14 000 Norwegian/Y 000 English ISSN-1502.5446 Foreword Even after 30 years of petroleum production from terms of both maturity and challenges between its the Norwegian continental shelf (NCS), we estimate various areas. A broad spread of companies will help that only about 24 per cent of these resources have to meet the rnnltiplicity of challenges facing 11s. been produced. Remaining recoverable resources Wiile the oil majors are relatively well represented are put at 10.6 hn scm of oil equiv;rlent, and could today, small and mediurn-sized players have a provide the basis for another 50 years of oil produc- weaker involvement. The prequalification system tion and a century of gas output. The petroleum is a new and important measure, which will make sector will thereby remain a major source of value it easier for new players to become established on creation for the Norwegian community.
    [Show full text]
  • Decommissioning of North Sea Oil and Gas Facilities
    Decommissioning of North Sea oil and gas facilities An introductory assessment of potential impacts, costs and opportunities Background report phase 1 Living North Sea Initiative IMSA Amsterdam April 2011 LNS200_DEF Colophon Written by Janneke Pors Consultant Stephanie Verbeek Consultant/researcher George Wurpel Consultant/researcher Piet Briët Senior consultant Checked by Anne-Mette Jørgensen Director Projects Approved by Wouter van Dieren Chairman Date Version/reference March 30 2011 Version for external review (ref. LNS200_D01) April 14 2011 Incorporated comments external review (ref. LNS200_DEF) Copyright IMSA Amsterdam Niets uit deze uitgave mag worden verveelvoudigd en/of openbaar gemaakt zonder toestemming van IMSA Amsterdam; Not to be copied or transferred in any form without permission of IMSA Amsterdam. 2 © IMSA Decommissioning of North Sea oil and gas facilities Contents Executive summary .................................................................................................................................5 1. Introduction .......................................................................................................................................... 9 1.1. Problem definition........................................................................................................................ 9 1.2. Background..................................................................................................................................10 1.3. Study approach and objectives................................................................................................11
    [Show full text]