21
ROLE OF LIQUEFIED NATURAL GAS TO ENHANCE ENERGY SECURITY IN THE UNECE REGION Geneva, 22 th January 2008 FRANCISCO P. DE LA FLOR
ROLE OF LIQUEFIED NATURAL GAS
TO ENHANCE ENERGY SECURITY
IN THE UNECE REGION
Geneva, 22th January 2008FRANCISCO P. DE LA FLOR
2
1. LNG IN THE WORLD & EUROPE
2. LNG: KEYSTONE FOR THE
SECURITY OF SUPPLY IN
SPAIN
INDEX
3
1. LNG in the World & Europe
x27
LNG Infrastructures in the World 2007
Liquefaction Terminals under construction/planned/unde r study
SOURCE: PETROLEUM ECONOMIST & LNG JOURNAL (3rd Quarter 2007)
Existing LNG TerminalsLNG Terminals under construction / committed
LNG Terminals planned/under study
Existing Liquefaction Terminals
(58)
(35-40)(70-80)
(21)(40-50)
5
Worldwide LNG Trading
6SOURCE: NATURAL GAS MARKET REVIEW 2007, IEA
600
400
200
0
bcm
60-100 bcm 80-160 bcm
Regional Production LNG Imports Pipeline Imports
LNG Increasing Demand in OCDE Countries
2005 2010 2015
7
15Existing LNG
Terminals
8 LNG Terminals
underconstruction/ commmitted
23 LNG Terminals
understudy/planned
- LNG plays different roles in each EU country.
- LNG regulation differs in each MS depending on national needs and particularities.
LNG Terminals in Europe
8
EU FUTURE LNG INVESTMENTS 2007-2012
0
2
4
6
8
10
12
14
Existing(Expansion)
Committed/ Underconstruction
Planned/ Understudy
bn €
SOURCE: GLE MAP & ROUGH INTERNAL ASSESSMENT
• Significant Investments ongoing
• Allowing Supply Diversification
• Increasing Gas Supply competition
• Long-term Commitment (regulatory and/or contractual)
3
LNG vs NG in EU 2006
96%
100%100%
SPAIN
PORTUGAL
FRANCE
BELGIUM
ITALY
GREECE
●
●
●
●
●
●
●
●
●
●50 %
50 %
4%
96%30%
70%
18,0%
82,0%
GERMANY
76%
●POLAND
LNG
NG
69%
30%
FRANCE
BELGIUM
?
?
?
?
4%
416 416 TWhTWhSpain
49%
Italy6%
France
32%FRANCE
BELGIUM?
?
?
Spain
47%
Greece1%
France
27%
Portugal4%
4 %UNITED KINGDOM
UK
8%
8%
Belgium
600 TWh
●
●
24 %
10
2. LNG: KEYSTONE FOR THE SECURITY OF SUPPLY IN SPAIN
11
LNG Terminals to 2011
(1)(1)
Barcelona - ENAGAS
SEND-OUT (m3/h)
Nº TANKS
STORAGE (m 3 LNG)
6540.000
1.700.000Tenerife - GASCAN
SEND-OUT (m3/h)
Nº TANKS
STORAGE (m 3 LNG)
1150.000
150.000
Gijón - ENAGAS
SEND-OUT (m3/h)
Nº TANKSSTORAGE (m 3 LNG)
2300.000
800.000
Gran Canaria-GASCAN
SEND-OUT (m3/h)
Nº TANKSSTORAGE (m 3 LNG)
1150.000
150.000
COMMITTED/ UNDER CONSTRUCTION
Sagunto - SAGGAS
SEND-OUT (m3/h)
Nº TANKS
STORAGE (m 3 LNG)
2300.000
800.000
Cartagena- ENAGAS
SEND-OUT (m3/h)
Nº TANKS
STORAGE (m 3 LNG)
3290.000
1.200.000Huelva- ENAGAS
SEND-OUT (m3/h)
Nº TANKS
STORAGE (m 3 LNG)
4470.000
1.200.000
Ferrol - REGANOSA
SEND-OUT (m3/h)
Nº TANKS
STORAGE (m 3 LNG)2
300.000
412.000
Bilbao - BBG
SEND-OUT (m3/h)
Nº TANKS
STORAGE (m 3 LNG)
3300.000
1.200.000
EXISTING
UNDER STUDY/PLANNED
UNDER EXPANSION PROCESS
• Demand Growth (PowerGen + Backing-up Renewables)
• Full r-TPA without exemptions
• Government’s Infrastructure Mandatory Planning
• LNG terminals considered Basic Infrastructures as Pipelines and UGSs.
12
LNG Infrastructure to 2011
Barcelona Cartagena Huelva Bilbao Sagunto El Ferrol Gran Canaria TenerifeGijón
2002 2003 2004 2005 2006 2007 2008 20110
800.000
1.600.000
2.400.000
3.200.000
4.000.000
4.800.000
5.600.000
6.400.000
7.200.000
8.000.000
8.800.000m(n)3 /h
0
7
17
27
37
47
57
67
77bcm/y
x 4,1
Regasification Capacity
Barcelona Cartagena Huelva Bilbao Sagunto El Ferrol Gran Canaria TenerifeGijón
02468
101214161820222426283032
2002 2003 2004 2005 2006 2007 2008 2011
nº
x 4
Barcelona Cartagena Huelva Bilbao Sagunto El Ferrol Gran Canaria TenerifeGijón
02468
101214161820222426283032
2002 2003 2004 2005 2006 2007 2008 2011
nº
x 4
Number of tanks
Barcelona Cartagena Huelva Bilbao Sagunto El Ferrol Gran Canaria TenerifeGijón
0
800.000
1.600.000
2.400.000
3.200.000
4.000.000
2002 2003 2004 2005 2006 2007 2008 2011
m3
x 7,1
Storage Capacity
13
World wide suppliers
RUSSIA
LIBYA
VENEZUELA
RUSSIA
AUSTRALIA
IRÁN
TRINIDADTOBAGO
ANGOLA
YEMEN
RUSSIA
NIGERIAINDONESIA
AUSTRALIA
OMAN
13 CURRENT
SUPPLIERS
7/9 POTENCIAL SUPPLIERS
ABU DHABI
EYT
MALAYSIA
ALGERIAEGYPT
LIB
NORWAY
QATAR
BRUNEI
14
Supply Diversification 2006
NG
31%69%
LNG
Supply Sources2006
410 TWhEgypt13%
Norway6% Algeria (NG)
25%
Algeria (LNG)8%
Lybia2%
Other0%Oman
2%Qatar14%
T & T10%
Nigeria20%
Domesticl0%<1%
15
Spanish LNG in EU 2006
Source: GIIGNL
Spain47%
France27%
Greece1%
Italy6%
Portugal4%
Belgium8%
UK7%
16
World LNG Spot Market in 2006
<1%<1%
Source: GIIGNL
17
0
50
1999 2000 2001 2002 2003 2004 2005 2006
100
150
200
250
300
TWh
New entrantsIncumbent
LNG supplies to TPA market
18
Interconnections
Norwegian Gas Russian GasAlgerian Gas
With New InterconnectionsWithout New Interconnections
Bottlenecks fortrade/competition
19
DisclaimerThis document may contain market assumptions. different sourcedinformation and forward-looking statements with respect t o the financialcondition. results of operations. business. strategy a nd the plans of Enagas SA. Such statements are based on a number of assumptions t hat couldultimately prove inaccurate. and are subject to a number of risk factors. including the ability to realize cost reductions and operat ing efficiencieswithout unduly disrupting business operations. environm ental. regulatoryconsiderations and general economic and business conditi ons.
Enagas does not assume any obligation to update publicly an y forward-looking statements. whether as a result of new informati on. future events orotherwise. Further information on factors which could aff ect the company'sfinancial results is provided in documents filed by the co mpany with theCNMV.
Any data contained herein for periods 2000 and earlier was prepared by using historical proforma results. Proforma financial da ta is unaudited andcalculated applying company's accounting principles.
THANK YOU FOR YOUR KIND
ATTENTION!
Geneva, 22th January 2008FRANCISCO P. DE LA FLOR
