essen, january 2007 - tecnicelpa · man ferrostaal seminário bioenergias, tomar 30 mar 2007 1>...
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MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 1>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Essen, January 2007
Wolfgang MarschewskiBusiness Unit Renewables
(Forestry, Pulp & Paper, Biofuels)
MAN Ferrostaal AG
“Innovative Technology for Biomass Gasification
and possible Applications”
Tecnicelpa - Seminário “Bioenergias. Novas Tendências”Tomar, 30th March 2007
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 2>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Contents
MAN Ferrostaal: TTMC II Methanol plant in Trinidad&Tobago
MAN Ferrostaal: Pulp plant in Stendal/Germany
IntroductionThe MAN GroupMAN Ferrostaal AGOur business model
Selected Project ReferencesMethanol plantsPulp Mills
Gasification & BTL StrategyBiofuelsCHOREN GasificationPresent StatusThe way to go, opportunities
Conclusions
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 3>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
The MAN Group
MAN is one of Europe’s leading engineering groups. As a systems provider employing some 58,000 peoples in its core areas of
Commercial VehiclesIndustrial ServicesDiesel EnginesTurbomachines
MAN operates in 120 countries of the world.
The MAN Group ranks among the top three suppliers in each of its markets and is a technological leader.
MAN’s blue-chips shares are listed in the DAX30.
Company&
Business
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 4>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
General contractor / lead managerProject development and managementFinancingProduct off take
Function
Oil & GasPower plantsPetrochemicalsMetallurgyRenewables (Pulp & Paper, Biofuels)- also with KSH Solutions Inc./CAN
Industries
Activity Design, planning and supply of turnkey industrial plants and systems
MAN Ferrostaal AGProject & Contracting – Industrial Projects
Company&
Business
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 5>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
I IIIProject-Development
Project-Development O & MO & MEPC - ContractingEPC - Contracting
General Contractor / Leader of international Consortiums
Project - & Risk - Management
Taylor made Project - Financing
Project-ConceptProject-Concept
Operation &MaintenanceOperation &Maintenance
Project-FinancingProject-Financing
Basic / DetailEngineering
Basic / DetailEngineering
Global Procurement
Global Procurement
Civil & ErectionCivil &
ErectionCommis-sioning
Commis-sioning
• World wide general contractor of turnkey industrial plants
• Project development & project management as core competences
• Equity participation in selected cases
II
Industrial ProjectsCore Competence General Contractor
Company&
Business
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 6>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Industrial ProjectsCore Competence Project Development
MAN FERROSTAAL Project Development Concept:“Turning ideas into reality”
• Development of profitable business idea
• Close Cooperation with strategic investor
• Leadership throughout developmentprocess
Selection of sponsors:
• Financiers
• Feed stock supplier
• Product off-take
• Operator
• Technology
• Engineering
• Customized financial solutions
• Strategic Investment
• Limited risk, transparency and efficiency of financial model
Optional:
• Establishment of project company
• Participation in the equity
• Participation in O&M
• Participation in feedstock supply and off-take
• General con-tractor for delivery of industrial plant
• Turnkey Fixed Price
• Schedule & Performance Guarantees
• Sale of equity to:
• Strategic investoror
• Financial Investors
Business Idea Contracting structure
Financialengineering
Equityshareholding
Realization ofthe plant Exit Phase
61 2 3 4 5
Company&
Business
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 7>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Industrial Projects Project Financing (e.g. Methanol Plants)
State Approvals(inter alia)
• Central Bank • Local Permission• Implementation Permit• Operational Permit• Environmental Permit• Fiscal Incentives
ECAs
Transportation• Contracts, Facilities
• Lump Sum Turnkey Agreement• Performance Bond• Liquidated Damages• Complying with Environmental
Standards (local and international)
EPC-Contractor Ferrostaal
Fully operational plant side
Location
• Long Term Contract
Experienced Operator
Plant Management & Operation
• Long Term Contract• Favorable Prices• Safety Reserve
Feedstock Supply
Shareholder´s Liquidity Buffers
• Take-or-pay obligations
Off-Take Agreement(s)
Off-Shore Escrow Account • Operating Accounts• Debt Service Reserve Account
ECA-covered Debt about 2/3
• Pre-completion support• Post-completion support
Shareholders‘ Equity about 1/3Strategic Interest
Project Company
LegalAdvisor
InsuranceAdvisor
TechnicalAdvisor Trustees
Legal Advisor
Insurance Advisor
Technical Advisor
Company&
Business
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 8>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Selected ReferencesSelected References
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 9>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
TTMC II – Trinidad & Tobago Methanol Company
Industrial Projects ReferencesMethanol Plant – Pulp Mill
Stendal Pulp Mill / Germany Turnkey Kraft pulp mill incl. power station, auxiliaries, fresh & wastewater treatment, etc.
EPC-Budget: ~ 720 Mill. EuroStaff employments: ~ 600Construction works: 2002 – 2005 Capacity: 550,000 t/a NBSK
Turnkey methanol plant;
Partner: Davy Process Technology Ltd.Total investment cost: ~ 250 Mill $Capacity: 550,000 t/a MethanolExecution: 1994 - 1996
Selected References
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 10>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Industrial Projects ReferencesPulp mill (e.g. Kunda/Estland)
Capacity: 140,000 t/a BCTMP (Aspen)EPC-Budget: 135 Mill. EuroGeneral Contractor: MAN Ferrostaal AG / RWE Industrie-Lösungen GmbH In operation: April 2006
AS Estonian Cell / Heinzel Group / Larvik Cell
Selected References
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 11>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Gasification & BTL*
Strategy
*BTL = Biomass to Liquids
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 12>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Comparison of Biofuels
Crop Yield (oil equiv.)
litres/hectar
CO2-Balance
Net Reduction
(WTW-basis)
Biodiesel / FAME1st – Generation
Rapeseed
Palm Oil (Asia)
1408
> 5000
- 46 %
Bioethanol1st – Generation
Grain
Sugar cane (Brazil)
1660
4197
- 27 %
- 80 %
Bioethanol2nd – Generation
(Ligno)cellulosicBiomass
640 (residual straw)
> 4000 (plantation wood)
- 85 %
BTL / Sundiesel2nd – Generation
all sorts of biomass
(wood predominately) 3907 - 88 %
Gasification & BTL
Strategy
Source: FNR – Fachagentur Nachwachsende Rohstoffe e.V.
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 13>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Climate change caused by GHG emissions is a major driver for BTLsupport in the European Union’s energy and environmental policy
BTL is considered a desirable contribution to future transportation concepts due to very favourable fuel specs (in contrast to FAME-Biodiesel):
less CO2-emissionssulphur-freenearly free of aromatic hydrocarbonszero emission of particulate matterlow NOx-emissionsadjustable product quality (octane and cetane number) BTL is compatible with existing infrastructure and enjoys highestinterest in automotive industry
Green fuel image is important also to MAN as one of the leading companies in automotive industry for commercial vehicles
Advantages of BTL Biofuels
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 14>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
How to produce BTL Sundiesel
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 15>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Milestones in “XTL” Fischer-TropschHistory
”XTL” may either be Coal to Liquid, Gas to Liquid, or Biomass to Liquid
1923
1930/40s
1950s+
1980s
1990s
2000+
Fischer-Tropsch synthesis (FTS) invention (Mülheim/D).
First CTL-plants with FTS in D (e.g. Ruhrchemie).
First CTL-plants with FTS at Sasol, Sasolburg/SA,Followed by additional plants / capacities.
GTL-plants with FTS in by Petro SA in Mossel Bay/SA, by Shell in Bintulu/Malaysia, by Exxon (AGC-21) in Baton Rouge/USA.
First BTL-pilot scale demonstration (Alfa plant) by Choren in Freiberg/D. Large scale GTL-facilities in Ras Laffan/Qatar under construction. Semi-commercial BTL demonstration (Beta plant) in 2007. Further BTL-projects (Sigma plant) under preparation.
New large CTL-capacities (FTS) at Sasol in Secunda/SA.
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 16>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Thermal-Chemical Conversion from solid Biomass to synthetic Biofuels
Efficiency (@ 200.000 tpa)Biomass Handling Gasification Gas Cleaning + Upgrading Synthesis + Upgrading Total
~ 97-98 % ~ 65-83 % ~ 92 % ~ 69-71 % ~ 45-55 %
Hydrocracking
Distillation
Blending
Investment structure (@ 200.000 tpa)Biomass Handling Gasification Gas Cleaning + Upgrading Synthesis + Upgrading Utilities
~ 6 % ~ 28 % ~ 14 % ~ 25 % ~ 28 %
BiomassLogistics Storage
O2-GasificationSteam GasificationFlash-Pyrolysis
AutothermalAllothermal
Fixed BedFluidized BedEntrained FlowCombinations
BiomassGasification
Raw Gas SynGasCleaning +Upgrading
Tar Separation
Desulphurization
PM Separation
Cooling/Heat Recovery
CO-Shift -> H2/CO
CO2-RemovalPSA
Compression
SynGasBiomassHandling
Milling
Separation
Drying
BiofuelSynthesis
MeOH-Synthesis
NT-Fischer-Tropsch
HT-Fischer-Tropsch
Bio-SNG
Hydrogen
(MTBE, ETBE, DME)
BiofuelProduct Make-Up
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 17>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
CHOREN’s process for BTL production
Fischer-Tropsch & Hydrocracking
Carbo-V® Gasification(Two-Stage-Gasification)
Syngas Treatment(Cooling, Scrubbing, Shift)
CHOREN is the only BTL developer covering the entire process chain, starting with Biomass and ending up with Sundiesel.
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 18>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
βα
+ process fully proven in pilot scale, industrial scale at β plant already partly incommissioning, i.e. large scale reference available
+ multiple train concept offers redundancy and therefore entails increased overall availability
+ broad variety of biomass feedstocks can be applied to the system+ access to Shell‘s Synthesis and product off-take is secured
- Relatively complex gasification process, i.e. hardly economically feasible with „low tech“applications but best for high sophisticated applications (syngas for biofuels)
- Multiple train concept (low pressure) means a higher effort and therefore cost in termsof equipment, but significant advantage of higher availability for “new” technology
+
-
1 MW-α pilot plant in operation since 1998 (gasification), with Fischer-Tropsch-Synthesis (FTS) since 2003.
50 MW-β BTL demonstration plant with FT-Synthesis currently under construction. Sundieselproduction to start in late 2007.
Status of CHOREN‘s Carbo-V® gasification
Pro’s and Con’s
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 19>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
CHOREN‘s Carbo-V® gasification
Low-TemperatureGasifier (NTV)
High-TemperatureGasifier
Gas-Cleaning + Upgrading
Syngasfor use
Bio-Coke
Gas (containing tar)
Biomass15% H2O
Synthesis gas
Steam
Scrubber
SewageWater
Bed Ash Pellets(elute-resistant)
Raw Gas(tar-free)
Air/Hydrogen
Heat Exchanger
DedusterCoke, Ashes, Dust
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 20>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Energy flow diagram (Beta Plant)
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 21>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Business approach towards BTL
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 22>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Stages of technological development
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 23>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
World’s first industrial BTL facility
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 24>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Roadmap for BTL realization in Germany
* Dena = German Energy Agency
Gasification & BTL
Strategy
Biomass potential for up to 20 % of the current and > 35 % of future transportation fuel demand in Germany
Production cost in first large scale plants < 1 EUR/Litre, mid term expectation < 0.70 EUR/Litre competitive with 1st generation biofuels
Construction of a first industrial reference plant (500 MW scale) asap
Risk share between all stakeholders
Public support via loan guarantees and reliable boundary conditions (tax incentive)
Results and recommendations of a recently finished “BTL Realization Study” (Dena*-Study)
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 25>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
BTL “Sigma Plant” concept
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 26>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Thermal processes(ovens, kilns for calcination etc.) available
availableBio-Power generation (indirect co-combustion, gas engines, gas turbines, IGCC)
demo phase today,great futureopportunities!
Bio-Syngas to Biofuel Synthesis
Ia
IIIb
Different applications encompassing the novel gasification technology are characterized by different maturity and risk.
Approach towards BTL can either be direct (path II) or indirect (path Ia+Ib). The latter may be advantageous to hedge technical risks with respect to special situation / requirements e.g. of pulp industry.
Approaching BTL indirectly via further applications for gasification processes
Carbo-V® gasification
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 27>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Germany Portugal South East Asia
Revenue: SunDiesel 0,80 €/ltr. 0,60 €/ltr. 0,52 €/ltr.Revenue: Naphta 0,40 €/ltr. 0,30 €/ltr. 0,26 €/ltr.
Costs: Biomass 65,00 €/t 30,00 €/t 16,00 €/t
Project IRR 11,45 % 11,52 % 11,54 %Equity IRR 14,58 % 14,59 % 14,60 %
Comparison of costs and revenues of a BTL-facility in different countries
Target: Comparable Project- and Equity-IRRBasis: Plant capacity 200.000 tpa SunDiesel, same boundary conditions
Variables: Revenues for SunDiesel & Naphta and Biomass costs
Total Investment Costs Total Sales Revenues Total Cash Operat ing Costs - including Biomass Costs
Gasification & BTL
Strategy
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 28>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
Conclusions
Biofuels will gain increasing importance. The emerging business offers a tremendous opportunity for construction and operation of industrial biofuel plants.
Only synthetic biofuels like BTL / Sundiesel or 2nd generation Bioethanol can significantly contribute on the long run, since a broad variety of biomass can be applied.
Especially the pulp industry does have excellent prerequisites to participate in the emerging biofuel business.
Gasification technology is one of the key technologies. CHOREN industries is far ahead of this competition in terms of BTL.
MAN Ferrostaal is Your partner as a general contractor both in terms of pulp technology and biofuels!
Conclusions
MAN Ferrostaal Seminário Bioenergias, Tomar 30 Mar 2007 29>
Company&
Business
Selected References
Gasification & BTL
Strategy
Conclusions
MAN FerrostaalAktiengesellschaft
intointo RealityRealityTurningTurning IdeasIdeas
Please contact us!
MAN FERROSTAAL AGHohenzollernstrasse 24
D - 45128 Essen
Business Unit Renewables(Forestry, Pulp & Paper, Biofuels)
Wolfgang Marschewski
Tel.: +49 – 201 – 818 2210Fax: +49 – 201 – 818 3931
http://www.manferrostaal.com
Thank you for your kind attention !