lng terminal infrastructure: the focal point for lng bunkeringlng bunkering scheme feasibility (2nd...
TRANSCRIPT
LNG Terminal Infrastructure: The focal point for LNG bunkering
Poseidon Med II: setting the scene for LNG as marine fuel in East Med
University of Nicosia, Cyprus 18th October 2018
2
Contents
• Overview of DESFA
• Overview of the Revithoussa LNG terminal
• Parameters affecting the feasibility of a LNG bunkering scheme
• Consclusion
3
Established in March 2007, DESFA owns and operates the Greek National Natural Gas System (NNGS), which consists of the National Natural Gas Transmission System & the LNG Terminal in the islet of Revithoussa.
DESFA was certified as an Independent Transmission Operator in September 2014, under the 3rd EU Energy
Package
The Hellenic Gas Transmission System Operator
100%
65%
35,5%
35%
45,5% 19%
Paneuropean Oil &
Industrial Holdings
Stock
Market
100%
Ongoing privatization
I n v e s t o r *
66% 34%
* Successful Bidder:
4
2nd Upgrade
+95.000m3
High Efficiency 13 MW CHP unit
for power & thermal needs
Second Upgrade of the Revithoussa LNG Terminal
5
6
LNG Bunkering Scheme Feasibility (1st slide) • In view of the 2020 emission levels, LNG competes against:
Uncertainties
o Low sulfur Gas-Oil OPEX Availability Quality Price
o Scrubbers CAPEX Resilience of materials OPEX Port infrastructure
• Against either competitor, LNG Availability of infrastructure must face its own uncertainties: PRICE
• Regarding availability, many ports and/or LNG terminals are investing or intend to invest in bunkering infrastructure
7
LNG Bunkering Scheme Feasibility (2nd slide)
• Regarding price, there are uncertainties but the users are right to ask for more clarity
• The use of LNG impacts the price of the ship itself and the price of its fuel o The first is controlled by the ship-owners, the second not
LNG
CIF
Use of
SSLNG
infrastructure
Charge
Bunker
Vessel cost
Trader’s
margin
Ship fuel
cost
USE OF
SYSTEM
CHARGE
Depreciation Cost of capital & OPEX
8
LNG Bunkering Scheme Feasibility (3rd slide) • The most uncertain elements of the chain are:
o The use of small scale LNG infrastructure charge which depends on the frequency of bunker vessel calls
o The bunker vessel cost which depends on the size and number of bunker/feeder vessels and their use
Number of LNG
fuelled vessels
Size of
bunker/feeder
vessel
Bunker Vessel
cost
Frequency
of calls
Number of
bunker/feeder
vessels
Location & size of
satellite storages
Frequency & volume
of supply
Arbitration
between
Seasonal
modulation
Use of SSLNG
infrastructure
Charge
9
Conclusion
o Uncertainties regarding the LNG bunkering scheme feasibility still need to be
mitigated.
o DESFA is working on the implementation of small scale LNG infrastructure. At the same time it addresses the pricing & regulatory issues.
o PMII partners build on credible scenarios to provide more accurate information to the shipping community.
