Frank J. Macchiarola Executive Vice President May 6, 2015 Conference of Western Attorneys General...
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Frank J. Macchiarola Executive Vice President May 6, 2015 Conference of Western Attorneys General The LNG Export Opportunity
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Transcript of Frank J. Macchiarola Executive Vice President May 6, 2015 Conference of Western Attorneys General...
Frank J. MacchiarolaExecutive Vice PresidentMay 6, 2015Conference of Western Attorneys General
The LNG Export Opportunity
ANGA Members
U.S. Shale Gas Revolution
Source: Potential Gas Committee, 2014
2014
1,253 TCF shale
2,853TCF total
32% INCREASE in supply in just four years
Source: Potential Gas Committee
Abundant SupplyEstimates of U.S. Recoverable Natural Gas
(trillion cubic feet)
1,2
68 1
,41
41,3
12 1
,53
2 2,0
74
2,1
70
1,2
35 1
,61
9 1,9
81 2
,54
32,2
15
2,1
02
2,8
362
,10
0
3,6
003
,35
0
0
1,0
00
2,0
00
3,0
00
4,0
00
Proved Reserves
Potential Shale Gas Resources
Total Resource (Uncategorized)
Non-shale Gas Resources
CERA, MIT NPC, INGAA ICFPotential Gas Committee EIA
‘00 ‘02 ‘04 ‘06 ‘08 ’10 ’12 ‘14 ’08 ‘09 ‘10 ‘11 ’12 ’13 ‘14 ‘10 ‘10 ‘11 ‘11 ‘09 ’12 ’13 ‘15
Fundamental Shift in Outlookame Change
Source: EIA, Annual Energy Outlook 2005 & 2013 Early Release
Natural Gas Net Imports(trillion cubic feet)
Imports
Exports
ProjectedHistorical
AEO 2005
AEO 2015
Actual
LNG Exports
Sabine Pass (Cheniere)DOE: ApprovedFERC: ApprovedCapacity: 2.2 BCF/d
Freeport LNG (FLEX Quintana Island)2 Separate FilingsDOE: Approved FERC: ApprovedCapacity: 1.8 BCF/d
Lake Charles (Trunkline/Energy Transfer Partners, BG Group)DOE: Conditionally ApprovedFERC: FiledCapacity: 2 BCF/d
Cove Point (Dominion)DOE: Conditionally ApprovedFERC: ApprovedCapacity: .8 BCF/d
Cameron (Sempra)DOE: ApprovedFERC: ApprovedCapacity: 1.7 BCF/d
Coos Bay (Jordan Cove)DOE: Conditionally ApprovedFERC: FiledCapacity: 1.2 BCF/d
Waiting all Final Approvals
Approved by FERC and waiting DOE Approval
Astoria (Oregon LNG)DOE: Conditionally ApprovedFERC: FiledCapacity 1.2
Elba Island (Southern LNG)DOE: Under ReviewFERC: FiledCapacity: .5 BCF/d
Lavaca Bay (Excelerate Liquefaction Solutions)DOE: Under ReviewFERC: FiledCapacity: 1.4 BCF/d
Received Final Approval
Corpus Christi Liquefaction (Cheniere)DOE: Under ReviewFERC: ApprovedCapacity: 2.1 BCF/d
Carib Energy (Crowley Maritime Corp.)DOE: ApprovedWill provide LNG transport servicesCapacity: .04 BCF/d
LNG Export Study Comparison
Modeler Release Date
U.S. Natural Gas Supply
Assumption
LNG Exports Volume Range
(Bcf/d)Price Change from
Baseline Case
EIA October, 2014 Reference 12.0 - 20.0 $0.10 - $0.80
ICF May, 2013 High 4.0 - 16.0 $0.32 - $1.02
CRA February, 2013 Low 20.0 - 35.0 $1.60 - $3.10
NERA December, 2012 Reference 0.0 - 15.8 $0.00 - $1.09
Navigant January, 2012 Reference 0.9 - 6.6 $0.04 - $0.41
Deloitte 2011 Reference 6 $0.22
* Relative to EIA supply assumptions
Meeting Global Demand
1. ICF estimate for year end 2011.2. FTA & non-FTA Applications to DOE as of Mar 31, 2014 3. Dec 2012 ICF estimate based on current worldwide project list.~Poten, BG Group, Credit Suisse, Facts GlobalSource: API, ANGA
LNG Global Market
The Energy Policy Debate
Frank J. MacchiarolaExecutive Vice President, Government [email protected] 8th Street NW Washington D.C. 20001202.789.ANGAanga.us
