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ZR-LNG Technology
Small to Mid-Scale Liquefaction of Natural Gas
2
LNG is a Growth Market
Shell 2018 LNG Outlook:
2017 demand 293 million tonnes/y
2030 demand 500 million tonnes/y
Requires investment of $200 billion
$35 billion through to 2030 suited to ZR-LNG technology
(after allowance for other project scope and pre-committed projects)
Gasconsult Share at 15% market share = $5.25 billion
3
ZR-LNG fits both Liquefaction Markets
Large-scale and Mid-scale:
Moves gas to market where a pipeline is uneconomic or
politically problematic
Small-scale:
Transportation fuel substitution (rail, trucking and marine)
LNGLiquefaction
Plant
LNGStorage L N G
Ship to Markets
~~ ~~~~~~~~~~~~~~
Feed Gas
LNGLiquefaction
PlantFeed gas
Truck Fuel Marine Bunker FuelHeavy off road Fuel
4
Target – Mid-scale through smaller gas fields
A 1 TCF field brought to market = $7-10 billion of revenue
Source FLEX LNG
CONVENTIONAL MEGA-SCALE PLANTSHUGE CAPEX
REQUIRE VERY LARGE GAS RESERVES
ZR-LNGMODEST CAPEX AND CAPACITY
IS AN “ECONOMIC SIZE FIT”FOR THESE SMALLER GAS FIELDS WHICH ARE NOT COMMERCIALLY TRIVIAL
5
Target – Small scale fuel substitution
FEED GAS
PERMEATE TO FUEL GAS
ZR-LNG LIQUEFIER
iLNG 3 PHASESEPARATOR
LNG PRODUCT
FLASH GAS
SWEEP GAS
iLNG MEMBRANE
SOLIDS
ZR-iLNG CONCEPTUAL FLOWSCHEME
1 - a joint development by Gasconsult with Osomo Projects/iLNG, the Netherlands
ZR-iLNG1 is a combination of:
• Gasconsult’s ZR-LNG liquefaction technology (elimination of refrigerant infrastructure) +• Osomo/iLNG’s membrane sweep technology (order of magnitude improvement over
conventional CO2 and water removal) +• Osomo/iLNG’s CO2 freeze out technology
ZR-iLNG eliminates a large amount of equipment, eliminatesheat sources and energy requirement, eliminates waste liquid streams. Described by industry expert as a potentially disruptive technology
6
ZR-LNG differentiators and benefits
Conventional technologies use external refrigerants, either hydrocarbon liquids/gases or nitrogen
significant cost to replace lost refrigerant (plant upsets, ongoing seal leaks)
refrigerant storage and transfer equipment
supply logistics issues
ZR-LNG uses no external refrigerant and requires no refrigerant storage or transfer equipment
saves capital and operating cost
Energy Efficiency
ZR-LNG is best in class mid-scale scheme, less energy use and lower CO2 emissions
7
Patent Protected Technology
ZR-LNG has patent protection in UK, Australia, S. Korea, Japan, China and Mexico.
ZR-LNG patents pending in USA, Canada, Malaysia and India
Additional patents on process variants submitted which will provide
additional protection and value
8
Design validated by:
ShellBP
CB&I (now McDermott)ThyssenkruppOther EPC companies
ZR-LNG Design has been Validated
PROCESS FLOW DIAGRAM ZR-LNG
CLIENT CONTRACTNo:
CONTRACT No: 233264
1
2
3
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5
6
7
8
9
10
REV
TITLE:
JIHGFEDCBA
GASCONSULT LNG TECHNOLOGY STUDY
NOTES
DRAWING No.
233264-000-PR-01-00001 D
FEED GAS
116-E-101
MP MAIN
REFRIGERANT
COMPRESSOR
AFTERCOOLER
116-E-102
HP MAIN
REFRIGERANT
COMPRESSOR
AFTERCOOLER
116-E-103
LP
COMPANDER
COMPRESSOR
AFTERCOOLER
116-E-104A/B HP
COMPANDER
COMPRESSOR
AFTERCOOLER
116-X-102A/B
116-X-101
116-X-101
LP COMPANDER
116-X-102A/B HP
COMPANDER
C E
116-E-105
116-E-104A/B
116-E-103
116-
E-101
116-T-101
116-C-102
C
LC
LC
LC
116-E-105
LNG HEAT EXCHANGER
116-C-102 BOG
/ END FLASH
COMPRESSOR
116-C-103 FUEL
GAS
COMPRESSOR
116-GT-101
116-C-101
LP / MP / HP
MAIN
REFRIGERANT
COMPRESSOR
116-GT-101
LP / MP / HP MAIN
REFRIGERANT COMPRESSOR
TURBINE
116-C-101
116-V-101 LP
EXPANDER
SEPARATOR
116-V-102 FUEL
GAS FLASH
DRUM
116-V-103 END
FLASH GAS
DRUM
116-T-101 LNG
HYDRUALIC
TURBINE
116-C-103
C M
ASC
ASC
ASC
ASC
116-E-106
116-E-106
FUEL GAS
COMPRESSOR
AFTERCOOLER
116-CM-102
116-CM-102
BOG / END FLASH /
FUEL GAS
COMPRESSOR
MOTOR
TO FUEL
GAS
F.D.
F.D.
F.D.
CWS
CWS
CWS
CWS
LOADING M ODE BOG COM PRESSION (BY
OTHERS)
C
KEY
ASC: ANTI-SURGE CONTROLLER ASV: ANTI-SURGE VALVECC: COLD CONSERVATION INSULATION CS: CARBON STEELCWS: COOLING WATER SUPPLY CWR:
COOLING WATER RETURNESV: EM ERGENCY SHUTDOWN VALVE FC: FLOW CONTROLLERFCV: FLOW CONTROL VALVE FD: FLARE DRUMFDI: DIFFERENTIAL FLOW INDICATOR FI: FLOW
INDICATORFRC: FLOW RATIO CONTROLLER HC: MANUAL CONTROLHCV: M ANUALLY CONTROLLED VALVE LC: LEVEL CONTROLLER
LCV: LEVEL CONTROL VALVE NI: NO INSULATIONOP: OPERATOR SETPOINT PC: PRESSURE CONTROLLERPCV: PRESSURE CONTROL VALVE PI:
PRESSURE INDICATORPP: PERSONNEL PROTECTION SP: SETPOINTSS: STAINLESS STEELTI: TEM PERATURE INDICATORXXV: AUTOM ATED ISOLATION VALVE
F.D.
F.D.
F.D.
THIS DOC UM ENT IS THE PR OPER TY OF CHICAGO BR IDGE & IRON COMP ANY ("CB &I"). IT MAY C ONTAIN INFOR M ATION DESC R IBING TEC HNOLOGY OWNED B Y CB &I AND DEEM ED TO BE COMM ER CIALLY SENSITIVE. IT IS TO B E USED ONLY IN C ONNEC TION WITH WOR K PER FORM ED B Y C B&I. R EPR ODUC TION IN WHOLE OR IN PART FOR ANY P UR P OSE OTHER THAN WOR K PER FORM ED BY C B&I IS FOR BIDDEN EXC EP T BY EX PR ESS WR ITTEN P ER MISSION OF C B &I. IT IS TO BE SAFEGUARDED AGAINST BOTH DELIBER ATE AND INADVER TENT DISC LOSUR E TO ANY THIRD P ARTY.
SCALE @A1: NTS
DOCUMENT ID:
REV
900-6
00#-C
S-N
I
900-6
00#-C
S-N
I
600-6
00#-C
S-N
I
600-6
00#-C
S-N
I
NO
TE
5
750-9
00#-C
S-N
I
NO
TE
5
350-600#-
CS-NI
600-900#-CS-NI
NOTE 5
900-600#-
CS-NI
900-300#-
CS-NI
CWS 900-300#-
CS-PP
750-300#-CS-NI
900-150#-CS-NI
400-150#-CS-NI
900-1
50#-C
S-N
I
900x900
400-900#-CS-NI
NOTE 5
500-900#-
CS-NI
500-900#-
CS-NI
500-900#-
CS-NI
300-900#-
CS-NI
C E
600-300#-SS-CC-130
NOTE 5
600-150#-SS-CC-170
500-900#-SS-CC-130
600-150#-
SS-CC-170
100-150#-SS-CC-130
400-150#-SS-CC-120
200-150#-SS-CC-140
200-150#-
SS-CC-140
250-150#-
SS-CC-150
116-
V-102
CC-260
116-
V-103
CC-280
400x600
200-1
50#-S
S-C
C-1
40
400-150#-
SS-CC-170
300-150#-SS-CC-170
150x250
300-1
50#-S
S-C
C-1
60
400-1
50#-S
S-C
C-1
80
150-150#-
SS-CC-100
150-600#-
CS-PP100-600#-
CS-PP
Table 1 – Cooling M edium Line Details
Cooler Tag / Header CWS / CWR Line Details
116-E-101 450-150#- CS-NI
116-E-102 400-150#- CS-NI
116-E-103 300-150#- CS-NI
116-E-104A/B 300-150#- CS-NI
116-E-106 80-150#-CS- NI
CWS / CWRHeader 750-150#- CS-NI
FREE DRAINING
Table 2 – Flare Header Details
Line Description Line Details
Flare Header 1200-150#- SS- NI
LINE KEY
AAA-BBB#-CC-DD-EEE
AAA: LINE SIZE (DN) BBB: PIPE CLASSCC: M ATERIAL OF CONSTRUCTION DD: INSULATION CODEEEE: INSULATION THICKNESS (MM)
NOTE 4
XX
V-1
15
ASC
XXV-118
ASC
XXV-102A
XXV-103
XXV-107
116-
V-101
CC-260
HC
CWR
CWR
CWR
CWR
XX
V-1
12
500x500
ASV-101A
300x250
ASV-102
80x150 ASV-104
600x600 ASV-105
600x500 ASV-106
600x600 ASV-107
600x400
ASV-108
TC
V-1
01
FC
V-1
01
FC
V-1
03
FC
V-1
04A
PC
V-1
02
PC
V-1
03
PCV-105
PC
V-1
06
LCV-101
LCV-102
LCV-
103HCV-101
START-UP VENT
PCV-109
PC
V-1
07
XXV-111
XX
V-1
16
XX
V-1
17
XXV-101A
ESV-101 PCV-101
XX
V-1
13
XXV-106
1. LNG STORAGE ON FLNG SHIP.
2. DELETED.
3. PSV TAILPIPES TO BE STAINLESS STEEL.
4. END FLASH DRUM TO BE POSITIONED ONE DECK ABOVE
STORAGE LEVEL.
5. EQUIPMENT INLET AND OUTLET LINE SIZES SHOWN ARE THE
INDIVIDUAL MACHINE LINE SIZES.
6. BOUNDARY LINE ENCASES EQUIPMENT, VALVES AND PIPING
ASSOCIATED WITH ONE OF THE 2 X 50% HP COMPANDER
MACHINES. LOAD SHARING CONTROL TO BE PROVIDED.
NOTE 6
PC
NOTE 1
XX
V-1
14
FI
TI FI FRC
FI
FRC
TI
250-900#-
SS-CC- FC
140
XXV-108 PCV-104 XXV-109
OP SP
PC
PC
PC
ES
V-1
02
FC
FC
FCV-102 CWR
116-E-102
ASC
FC
TC
FIFI
PC
FI
FI
FIFI
FI
FI
XXV-105A
XXV-104A
500-900#-CS-NI
600-300#-SS-CC-130
HOLDS
1. DELETED.
LIQ.FLNG MODULE
LIQ.
MODULE FLNG
FLNGLIQ.
MODULE
750-900#-
CS-NI
750-600#-
CS-NI
PCFOR START-UP ONLY
HC
START-UP VENT
HCV-105
FC
SP
PC
D 16/03/2018 ISSUED FOR INFORMATION TT-P SEL
C 29/01/2018 FOR CLIENT REVIEW TT-P SEL B
17/01/2018 FOR CLIENT REVIEW TT-P SEL
A 29/11/2017 DRAFT FOR INTERNAL USE TT-P SEL
DATE DESCRIPTION DRN CHK APP CLT
QUENCH LNG (BY OTHERS)
START-UP VENT
F.D.
START-UP VENT
F.D.
PCV-108
PCV-110
START-UP LINE
F.D.
F.D.
START-UP VENTF.D.
PCV-111
AS
C
250x200
AS
V-1
03
17
9
Gasconsult Team
Existing 5 man team has extensive first division experience in the EPC sector:
Bill Howe > 20 experience with the Foster Wheeler group
Geoff Skinner > 30 years experience with Foster Wheeler group
Tony Maunder > 30 years with Foster Wheeler, BP and ICI
Joseph Barba > 30 years with Foster Wheeler, Lummus, Hitachi
Mike Sterne > 30 years with Fluor, Bechtel, Amec
In total > 200 man-years relevant experience
Excellent business connections into the target market
10
Funding Requirement
Seeking £920,000
Covers 2 years opex including 2 new recruits:
Salaries including payroll burden £318,000 p.a.
Office and infrastructure £96,000 p.a.
T&L £41,000
Total p.a. = £455,000
Note: The Gasconsult Board and officers have invested circa £200,000 cash
plus 10 man-years of time into the development of the ZR-LNG technology
11
Business Model and Income Stream
Operate as technology Licensor:
Small core team, low overhead, no manufacturing, no expensive bidding and high risk contracts
Gasconsult Share at 15% market share = $5.25 billion
Revenue on licence fee business model at 3% of project cost through to 2030 = $157 million
Average revenue p.a. through to 2030 = $13 million
Average company costs p.a. through to 2030 = $1.7 million (years 1 & 2 $0.62 mil)
Overall company valuation NPV10 over 15 years = £48 million
Overall IRR over 15 years = 345%
Based on initial investment of £0.92 million for 18% of business (15% post dilution arising from ESOP)
Investor Return NPV10 = £6.6 million (post ESOP dilution and pre-exit)
Investor Return IRR = 87% (post ESOP dilution and pre-exit)
12
Exit Strategy
Potential Acquirers of Gasconsult
Targets can leverage the technology beyond licensing operations and secure greater share of project scope
EPC contractors seeking better returns through exclusive access to a superior technologyMore projects, better margins, full EPC scope
OEMs with major equipment integral to the ZR-LNG process e.g. BHGE, Siemens, Mitsubishi. Potentially supply >70% of all equipment in ZR-LNG schemes; Less competitive environment, better margins
Oil major seeking market advantage (access to gas reserves) through exclusive availability of superior technology. Monetize the full value chain through gas production
Existing LNG licensor seeking competitive advantage e.g. Air Products, Linde, Conoco, Chart. Potentially greater market share
