Colombia – LNG Supply Options

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    1

    1

    David Ledesma

    Tel: + 44 1883 724743Mobile: + 44 794 114 3823

    E-mail: [email protected]: www.south-court.com

    Colombia LNG Supply Options

    David LedesmaBogota

    3rd

    May 2011

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    2

    Introduc*on WhydoesColombianeedLNG OverviewoftheLNGvaluechain Overviewoffloa*ngregasifica*on Poten*alapplica*onofFSRUschemesinColombia CommercialstructuresforColombia

    Agenda

    PLEASENOTE:Thisinforma*onisprovidedbySouth-CourtLtdforusebyComisindeRegulacindeEnergayGas(CREG).The

    informa*onisderivedfrompublicsourcesandfromtheopinionoftheauthorandnowarrantyismadeastoitsaccuracy.Siteselec*on,zoningandpermingarehighlyspecializedareasandarenotwithinthescopeofthisreport.Adetailedsiteselec*onstudymustbeundertakenwithanexpertinordertoiden*fysuitableportsandthenecessarytechnicalrequirementsforanLNG

    importproject.Thispresenta*on,andthereportonwhichitisbased,onlygivesroughindica*onsfortypicalLNGimportschemes.EachLNGimportschemeisspecificallydesignedfortheloca*onandtomeetmarketrequirements.

    2

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    Introduc*on WhydoesColombianeedLNG OverviewoftheLNGvaluechain Overviewoffloa*ngregasifica*on Poten*alapplica*onofFSRUschemesinColombia CommercialstructuresforColombia

    3

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    Task1-Toiden*fyhighleveltechnologicalalterna*vesfor

    theimportofLNGintoColombiaduringElNio

    Task2-Todesignalterna*vesofbusinessschemesforthe

    developmentoffacili*esthatwerestudiedintask1

    Task3-Toarrangemee*ngsaboutschemesiden*fiedintask

    2topoten*aldevelopers

    Task4-Toevaluatetheinterestofpoten*aldevelopers.

    ScopeofWorkagreedbetweenDavidLedesma

    South-CourtLtddated1stMarch2011

    4

    3rdMay2011

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    Introduc*on WhydoesColombianeedLNG OverviewoftheLNGvaluechain Overviewoffloa*ngregasifica*on Poten*alapplica*onofFSRUschemesinColombia CommercialstructuresforColombia

    5

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    Thesystemisseeminglybalanced Produc*on~1.09bcf/day Consump*on~0.83bcf/day Export~0.25/bcfday

    TheproblemisduringElNio

    WhydoesColombianeedsLNG?

    6

    !"#$%&' !%("#'

    )#%*'

    +,%'

    !%("#'

    )#%*'-./'

    !%("#')#%*'

    0%.12%$12%34

    "#'

    5627895:267'

    '

    ;

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    7

    DuringElNiopowergeneraIonfromgasincreases

    7

    Powergenera*onfromgas

    increasesfrom~22,570,000

    KWh/dayto~52,500,000

    KWh/dayduringElNio

    Source:DatafromCREG,South-CourtAnalysis.Seemainreport

    aachment2fordata.

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

    !"

    #!$!!!$!!!"

    %!$!!!$!!!"

    &!$!!!$!!!"

    '!$!!!$!!!"

    (!!$!!!$!!!"

    (#!$!!!$!!!"

    (%!$!!!$!!!"

    (&!$!!!$!!!"

    ('!$!!!$!!!"

    )(*!+" )#*!+" ),*!+" )%*!+" )(*(!" )#*(!" ),*(!"

    !"#$%&'

    )*+,-(.,/,-&0*/(1'(2'3,(

    4566785696:(

    -./.01234/"5.06321"-17"

    -./.01234/"5.06321"89.:"43:";"

    1240.7"

    -./.01234/"?3>019:321"73/"

    !"

    #!$!!!$!!!"

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    (!!$!!!$!!!"

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    (%!$!!!$!!!"

    )(*!+

    "

    )#*

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    )(*(!

    "

    )#*

    (!"

    ),*

    (!"

    !"#$%&'

    )*+,-(.,/,-&0*/(1'(2'3,(

    4566785696:(

    -./.01234/"5360178321"

    93/"

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    :./40.9";"

    24-./.01640.9"

    -./.01234/"7.8"438";"12?:"

    -./.01234/"

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    8

    Thechallengeistoensurebalancedgassupply

    duringElNio

    8

    !"!#

    $!"!#

    %!!"!#

    %$!"!#

    &!!"!#

    &$!"!#

    '!!"!#

    '$!"!#

    (!!"!#

    ($!"!#

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    )%*!+

    )&*!+

    )'*!+

    )(*!+

    )%*!,

    )&*!,

    )'*!,

    )(*!,

    )%*%!

    )&*%!

    )'*%!

    )(*%!

    !"#$%&'(

    *+,+-./')!'0)*+10$-23+1).()045#+6)

    7889:78;8)

    -./01.2345/641#

    789:;5/68./?

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    9

    Power producers manage El Nio gas

    supply through committing to domestic gas

    9

    NormalGasDemand

    0

    200

    500

    Gbtu/day

    Gascommied

    forbygenerators

    butnottakenbut

    paidformake-upperiod12

    months

    NormalGasDemand

    NormalCase DuringElNio

    Gastakenfromgas

    producersunderagreedtake

    orpaycontracts

    240

    Addi*onalgas

    supplyfrominterrup*blegas

    contracts

    Un*l2012paymentsundertakeorpaycommitmentsarelimitedto25%ofthepaymentamount.From2013,this

    percentagemayincreaseto80-90%thusincreasingliabilitytothepowerproducers

    Interrup*blecontractsarefor20-40Gbtu/day

    Source:South-CourtLtdresearch

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    10

    ByAugust/SeptembereachyearitsshouldbepossibletopredictthatElNio(andthereforelowerrainfall)willoccur

    fromDecemberthatyear

    TheperiodofElNiovaries11-19months Thepoten*alvolumeof250-350millionScf/dayofgas

    importsfromLNGrepresents32-46LNGcargoesperannum

    (i.e.onecargoevery8-11days)

    ElNiooccursonaregularandreasonably

    predictablebasis1/2

    10AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    Duringperiodoflowrainfallpowerproducerss*llneedtoproducepowerunderthetermsoftheFirmObliga*on

    ReliabilityPayment.

    If,duringperiodsofElNio,powerproducerscannotproducepower,thentheywouldcovertheshorallby: buyingpowerfromotherpowerproducers(gas,oilorcoal) buygasfromdomes*csupply buysgasfromLNGatahigherfeedgascostandchargea

    spotmarketpriceforpower(itshouldbeabletorecoverall

    orpartofitsaddi*onalenergyfeedstockcosts)

    ElNiooccursonaregularandreasonably

    predictablebasis2/2

    11AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    Introduc*on WhydoesColombianeedLNG OverviewoftheLNGvaluechain Overviewoffloa*ngregasifica*on Poten*alapplica*onofFSRUschemesinColombia CommercialstructuresforColombia

    13

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    1414

    LNGChainGasUse,CapexandUnitCosts

    Capexes(matesbasedonan8mtpaproject

    Upstream ShippingLiquefacIon RegasificaIon

    GasUse

    Capex

    UnitCostn$/MMBtu

    10-14%1.5-3.5%1-2%12.5-19.5%

    $26bn$6-10bn$1-2.5bn$1-1.5bn$10-20bn

    $1-3$3-4.5$0.8-1.5$0.4-0.8$5.2-$9.8

    Total

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    Introduc*on WhydoesColombianeedLNG OverviewoftheLNGvaluechain Overviewoffloa*ngregasifica*on Poten*alapplica*onofFSRUschemesinColombia CommercialstructuresforColombia

    15

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    WhyFloaIngregasificaIon

    Land based systems are expensive Floating regasification facilities can be developed faster

    than land based alternatives (1-2 years vs. 4 years)

    Easier to secure permits Can locate floating regasification units close to market

    (more difficult with onshore facilities)

    Close to gas infrastructure and major gas consumers Close proximity to onshore support services

    Minimise environmental impact due to offshore location No visual impact on and from the coastline

    Lower cost and flexibility enables intermittent LNG supplyAllmaterialsarecopyrightSouth-CourtLtd@April2011

    16

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    UseofShipsasFSRUs(1/2)

    Regasifiers are installed on a conventional LNG ship Regasification and ancillary equipment can be

    designed and built into a new ship or installed as a

    conversion of an existing vessel

    New build 24-30 months Conversion ~ 12 months Times vary depending on shipyard

    Not usually possible to use a converted vessel forstandard trade. FSRU conversions normally operate

    as static regasification terminals when no cargoes arebeing received

    AllmaterialsarecopyrightSouth-CourtLtd@April201117

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    UseofShipsasFSRUs(2/2)

    Typical base load capacity 300 to 500MMscf/d (2.3 to3.8mtpa) with peak throughput of 700MMScf/d

    (5.4mtpa)

    Ship is moored at an offshore location or in a portand connected to the gas grid by pipeline

    When vessel empty it: either returns to the liquefaction plant to reload, or a second LNG ship comes alongside the moored ship and

    trans-ships its cargo

    The moored ship regasifies the LNG as required bythe market

    AllmaterialsarecopyrightSouth-CourtLtd@April201118

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    FSRUdischargesystems

    Loadingsystemsareeffec*velythesame

    asstandardvessels,thedifferenceishowgasissenttotomarket

    Submergedturretunloadingsystem-Offshoredischargingsystemusingaturretandflexibleriserpipeline.

    Vesselhasapurposebuiltturretrecep*onsystem

    Thegasispipedtoshoreusingneworexis*nggaspipelines.

    Thesystemideallyneedswaterdepthsof100+metres

    Source:Excelerate

    Source:Excelerate

    GasjeysystemGasisdischargedviaasimplegasconnec*oninitsdeck

    FSRUmoorsalongsidethejey Vesselconnectstohighpressurearmonajey NoLNGdischarged,sononeedforanyonshore

    cryogenicpipelinesorequipment

    AllmaterialsarecopyrightSouth-CourtLtd@April201119

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    MainfeaturesofanFSRU

    Source:EonRuhrgasOLTConferencePresenta*on

    Source:Excelerate

    Conversion

    New-Build

    ExcelerateEnergy(USA)-8FSRUsinopera*on

    (138,000m3to151,000m3insize)

    GolarLNG(Norway)-4FSRUsinopera*on(125,000m3to137,000m3insize)andoneinconversion

    GdFSuez(France)-2FSRUsandoneFSUinopera*on

    (145,000m3insize).

    Otherplayersareplanningtoenterthemarket

    AllmaterialsarecopyrightSouth-CourtLtd@April201120

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    FSRUvaporisaIonsystems

    Regasifica*onprocessrequirestheaddi*onofheat.Twosystems:

    1. Closedloop Usesapor*onofthegas(LNG)onboardasfuelgaswhich

    heatstheLNG.ForFSRUsthefuelgasusedis2%orhigherof

    thegassendout Couldbeaddi*onalplanningandenvironmental

    considera*ons(forexampleNOxandSOxemission)

    2. Openloop Usesseawatersouseverylilegasasfuelforvaporisa*on,

    typically0.5%orless(forpowergenera*on/pumping)

    Openloopvaporisa*onmaynotbeallowableinsomeloca*onsduetoconcernsabouttheeffectsofwatercoolinginthevicinityoftheFSRUanditseffectsonmarinelife

    AllmaterialsarecopyrightSouth-CourtLtd@April201121

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    NewBuildorConversion?

    Environmentalperformancedependson: Fuelconsump*on Boil-offrate

    New-build:0.10-0.15%perday Conversion:0.20-0.25%perday Largervessel IncreasedemissionsCO2,NOx,VOC(vola*leorganiccompound)

    Fuelconsump*on GuaranteedlifeofFSRU Drydockandmaintenancecost Refurbishmentcost Increasedriskonoldvessels Commercialarac*venessinthemarket

    AllmaterialsarecopyrightSouth-CourtLtd@April201122

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    CostsofNewBuildorConversion

    Lookatthefullcostsnotjustthecharterhire.

    Timetodevelop conversion2years new-build~3years

    Yardsempty,maygetagooddeal Chartervs.capexcost Environmentalliability

    Source: Hoegh conference presentations

    AllmaterialsarecopyrightSouth-CourtLtd@April201123

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    2424

    CommercialconsideraIons1/2

    TwodifferentcommercialmodelsforFSRUopera*ons-emptyandleave&stayonsta*on.

    1.EmptyandLeaveVesseldepartswhenemptytosailtoanLNGexportplantto

    loadanaddi*onalcargo Duringtheperiodthatthevesselisoffjeynogasissuppliedto

    marketmaynotbeacceptableissomemarketcircumstances

    Periodofnon-supplycanbemi*gatedthroughhavingasecondvesselreadytodischargeimmediately

    Line-packmayreducetheimpactofnon-supplyIfinterrup*onofgassupplyisnotacceptablethencanhaveatwoFSRUdischargesystem

    bothvesselsmustbeFSRUsAllmaterialsarecopyrightSouth-CourtLtd@April2011

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    2525

    CommercialconsideraIons2/2

    2. StayonSta*onThevesseldoesnotleavetheimportloca*onandtakestheaddi*onalLNGfromanotherLNGvesselwhichdeliverstotheFSRU(throughaship-to-shiptransfer)

    UseasingleFSRUinasemi-permanentconfigura*onwheretheFSRUispermanentlyconnectedtothegasdischargeloca*on

    WhenemptytheFSRUisrefilledfromanothervessel(canbeastandardvesselnotanFSRU)

    MostFSRUschemesareatajey.Theschemeunderconstruc*oninItalyisanoffshoreturretsystem

    Offshoreshiptoshiptransferismorecomplexthanatajey

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    2626

    OtherconsideraIons

    FSRUschemeshavealowercapitalcostthanlandbasedterminalsandaregenerallyfastertodevelop

    UseofonlyFSRUsinanLNGdeliveryscheme(asisrequiredbyallturretandgasjeyschemes)limitsthe

    numberofvesselsthatcandeliverLNG MostLNGissoldex-shipsowouldreducedLNGsupplyop*ons Stayonsta*onschemeshavethereforebeenpreferred Nosetrulesoncommercialandtechnicalconfigura*on

    Schemesaredesignedfortheloca*onnoonemodel

    Mustgetthenecessarytechnicaldesignandadviceapplicabletotheprojectandloca*on

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    ApplicableRules&RegulaIonscoverall

    aspectsofthefloaIngunit

    Source:DetBureauVeritas(DNV)conferencepresenta*ons

    AllmaterialsarecopyrightSouth-CourtLtd@April201127

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    ApplicableRules&RegulaIons

    CoastalStateRegula*ons Fromboundaryofstatetointerna*onalwaters

    FlagStateRegula*ons Vesselsmustcomplywithsafetyregula*onsofthemari*me

    authorityoftheFlagState

    FSRUdonotneedtocarryaflagunlessrequiredbycoastalstateorwhenininterna*onalwaters

    ClassRules Flagstaterequiresclassifica*on

    IMO(Interna*onalMari*meOrganisa*on)Conven*ons SeveralIMOdocumentsthatareapplicabletooffshoreLNG

    terminals

    Owner/OperatorSpecifica*ons SIGGTO,OilCompaniesInterna*onalMarineForumetc.

    AllmaterialsarecopyrightSouth-CourtLtd@April201128

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    DNV*KeySafetyAspectsandssues

    Loca*on&SeaCondi*on TypeofVessel&ContainmentSystem MooringoftheFacility AccessforExport/ImportVessels(tugs&pilotage) MethodofTransferofCargo(OffshoreLNGoffloading) TypeofPlant,Liquefac*on/Regasifica*on Topsides&DeckConges*on SafetyIssues WhatiftheLNGsupplyvesselmustleavepar*allyloaded?Properdesignandsafety,noonesizefitsallapproach

    DetNorskeVeritasorDNVisaclassifica*onsocietyorganizedasafounda*on,withtheobjec*veof"Safeguardinglife,property,andtheenvironment"

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

    29

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    3030

    Non-FSRUandothertechnologies

    FSUFloa*ngStorageUnitisastandardvesselwithno

    regasifica*onfacili*esonboard,usedforLNGstorage Minimummodifica*onsrequired CanusemorethanoneFSUforaddi*onalLNGstorage

    LNGisdeliveredfromastandardvesseltotheFSUandstoredintheFSU Regasifica*oniscarriedoutonshoreoronthejey

    LNGispumpedfromtheFSUtotheregasfacili*ies Increaseincomplexityascryogenicsonthejey Gasispumpedtothepipelinegridwhenrequired

    Oneschemeisopera*onal(GDFSuezMejillones,Chile)andasecondunderconsidera*on(PetronasMalacca,Malaysia)

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    Introduc*on WhydoesColombianeedLNG OverviewoftheLNGvaluechain Overviewoffloa*ngregasifica*on Poten*alapplica*onofFSRUschemesinColombia CommercialstructuresforColombia

    31

    PLEASENOTE:Siteselec*on,zoningandpermingarehighlyspecializedareasandarenotwithinthescopeofthisreport.Adetailedsiteselec*onstudymustbeundertakenwithanexpertinordertoiden*fysuitableportsandthenecessarytechnicalrequirements

    foranLNGimportproject.Thispresenta*on,andthereportonwhichitisbased,onlygivesroughindica*onsofcostsfortypicalLNGimportschemes.EachLNGimportschemeisspecificallydesignedfortheloca*onandtomeetmarketrequirements.

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    Construc*onoflandbasedterminal

    NoFSRUshipchartercost Typicalcost$1billionfor

    7mtpafacility

    RegasificaIonopIonsforColombia1.Landbasedfacility

    32

    Advantages Disadvantages

    Longtermflexibilityandexpansionop*ons

    Con*nuousandflexiblegassendout,Usesstandardshipsonly Varietyofregasop*ons(waste

    heat,airvaporisa*on,openor

    closedloop)

    Veryexpensive Largelandrequirement Localpermitscouldbedifficult Fouryearbuilt*mea|erpermits

    obtained.

    Environmentalimpactofonlandfacility.

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    Singleoffshorebuoy SimilarsystemtoExceleratesGulfGateway LNGisstoredandregasifiedonthevesselandsuppliedto

    marketviathesingleturret

    NeedtopayFSRUvesselcharterandop*oncost Cost

    $100million+capexdependingonlengthofsub-sealine FSRUcharter=$5575millionperannum

    RegasificaIonopIonsforColombia2.FSRUwithoffshoresingleturret

    33

    Advantages Disadvantages

    Lowconstruc*oncost Noorfewonshorefacili*es Localpermitsmucheasier Shorterbuild*me(2yearsorless) Notugrequirement

    Gassupplyinterrupted CanonlyuseFSRUturretshipsonly

    (standardshipscannotconnect)

    higherchartercost

    Turretshipswilllimitthesupplyop*ons

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    SingleoffshorebuoywithstandardLNGshipsdeliveringtotheFSRUship-to-ship(STS)

    TheFSRUstorestheLNGandregasifiestheLNGandsendsgastomarketviathesingleturret

    SimilartoGolarLNG,LivornoOLTOffshore,Italy

    RegasificaIonopIonsforColombia3.FSRUwithoffshoresingleturretandship-to-shipLNG

    transferfromthedeliveryvesseltotheFSRU

    34

    SubseaGas

    Pipelineto

    Shore

    Regas&

    Send-out

    LNGcarrier

    LNG

    FSRU

    Source:MarineServiceGMBH

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    35

    LivornoOLTOffshore,taly(Eon/Golar)

    35

    Source:OLTToscana

    GolarFrostiscurrentlyundergoingconversiontoFSRUservice.

    5bcmaopenloopregasifica*on Incorporateanewfixed

    turretgasdischargesystem

    andisalsoequippedwith

    LNGloadingarmson-board

    (firstvesselofthisdesign)

    TheFSRU,onceinservice,willbemooredtotheseabedviatheturret

    dischargesystemthroughwhichgas

    fromtheFSRUwillbedischarged

    LNGwillbedeliveredtotheFSRUviatheon-boardLNGloadingarms

    fromthedeliveringshipwhichwill

    moordirectlytotheFSRU* i.e.turretcannotdisconnectandstayspermanentlyfixedAllmaterialsarecopyrightSouth-CourtLtd@April2011

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    Cost $100million+capexdependingonlengthofsub-sealine Higheropera*ngcostscoststomonitorFSRUloca*on FSRUcharter=$5575millionperannum

    RegasificaIonopIonsforColombia3.FSRUwithoffshoresingleturretandship-to-shipLNG

    transferfromthedeliveryvesseltotheFSRU

    36

    Advantages Disadvantages

    Lowcost Noorfewonshorefacili*es Localpermitsmucheasier Shorterbuild*me(2yearsorless) LNGdeliveryusingstandardships

    NotallshipoperatorswillbewillingtodelivertoSTS

    STScouldlimitsupplyop*ons Requiresverybenignmarine

    environment

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    Twinoffshorebuoys SimilarsystemtoExceleratesNorth-EastGatewayand

    GDFSuez/HoeghLNGNeptune(bothoffshoreN.E.USA)

    LNGisstoredandregasifiedonthevesselandsuppliedtomarketviathesingleturret

    Twoturretsensureconsistentsupplyofgastomarket NeedtopaytwoFSRUvesselcharterandop*oncosts

    RegasificaIonopIonsforColombia4.FSRUwithtwinoffshoreturret

    37AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    NorthEastGateway,offshoreBoston,USA

    (Excelerate)

    38

    Strengthened cargo tanks (to withstand sloshing)

    On-board regasifiers Connector

    TwinAPLturretarrangement Located20kmoffshore

    Boston(USA)

    Thetwinturretarrangementallowsacon*nuoussendoutofgasinto

    theterminalssub-seapipelines

    whenusedwithtwoFSRUsin

    rota*on

    Theterminalispermiedforclosedloopregasifica*ononly

    Cameintoservicein2007Source:Excelerate

    Source:Excelerate

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    GdFSuezfirstentryintotheFSRUmarketswiththe

    construc*onoftheNeptune

    project,offshoreBoston(USA)

    SamemethodasNorthEastGatewayi.e.atwinAPLturret

    arrangementoffshore.

    ToservicetheNeptuneprojectGdFSuezalsoorderedtwonew

    FSRUships,theNeptuneand

    theCapeAnn,whichcameinto

    servicein2009&2010.

    Neptune,offshoreBoston,USA(GDFSuez)

    39

    Source:GDFSuez

    AllmaterialsarecopyrightSouth-CourtLtd@April2011

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    Cost $150million+capexdependingonlengthofsub-sealine Higheropera*ngcostscoststomonitorFSRUloca*on FSRUcharter=$110150millionperannum

    RegasificaIonopIonsforColombia4.FSRUwithtwinoffshoreturret

    40

    Advantages Disadvantages

    Lowconstruc*oncost Noorfewonshorefacili*es Localpermitsmucheasier Shorterbuild*me(2yearsorless) Notugrequirement

    Havetopayop*on/charterfortwovessels

    CanonlyuseFSRUturretshipsonly(standardshipscannotconnect)higherchartercost

    Turretshipswilllimitthesupplyop*ons

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    Singlejeyheadwithgasdischarge Teesideterminal(UK)istheworldsfirstuseofanFSRUin

    ajeytypedischargearrangement

    FSRUbringstheLNGtothejeyandLNGisstoredandregasifiedontheFSRU Gasissuppliedtomarketviahigh-pressurepipe Shorebasedfacili*escanincorporatenitrogeninjec*onor

    liquidsextrac*on

    RegasificaIonopIonsforColombia5.FSRUonJey

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    TheTeessideterminalwasbuiltintheriverTees(NorthEast

    England)viatheconversionofan

    exis*ngjeytoFSRUuse

    TheFSRUmoorsatthejeyanddischargesitscargoasgasviagasdischargearmsmountedonthe

    jeyinclosedloopmode

    TeessideJeyTerminal,UK(Excelerate)

    42

    Source:Excelerate

    OnceemptytheFSRUleavestheloca*ontoallowthenextFSRUtodeliver

    Theterminal(shoreside)alsofeaturesnitrogeninjec*onequipmentinordertoadjustgasqualitytomatchUKspecifica*ons(UKgasspecifica*onrangesarerela*velynarrow)

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    Cost $50-100million+capexdependingonwhetheranexis*ngjey

    canbeused

    Higheropera*ngcostscoststomonitorFSRUloca*on FSRUcharter=$55-75millionperannum

    RegasificaIonopIonsforColombia5.FSRUonjey

    43

    Advantages Disadvantages

    Lowcost(canuseexis*ngjey) Shortbuild*me(18months

    possible)

    Gassupplyinterrupted RequiresFSRUshiponly

    (standardLNGshipcannotconnect) UseofFSRUvesselwilllimitthe

    supplyop*ons

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    SinglejeyheadwithgasdischargeandLNGtransferlines StandardLNGvesselbringstheLNGtothejey LNGistransferredtoanFSRU LNGisstoredandregasifiedontheFSRU Gasissuppliedtomarketviahigh-pressurepipe

    RegasificaIonopIonsforColombia6.FSRUJeywithFSRUonstaIon

    SubseaGas

    Pipelineto

    Shore

    Regas&Send-out

    LNG

    carrier

    LNG

    FSRU

    44

    Source:MarineSe

    rviceGMBH

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    Petrobras,terminalsponsor,commissionedPecem(NEBrasil)terminalin2008

    Usesanexis*ngjeythathasbeenmodifiedtoacceptanFSRU

    anddeliveringshipinaside-by-

    sideacrossthejeytypearrangement

    FSRUGolarSpiritismooredsemi-permanentlyanddischargesgas

    viatwogasdischargearms

    mountedonthejeyhead FSRUisconnectedvia3LNG

    loadinglinesthatinastandard

    configura*on

    Pecem,Brasil(GolarSpirit)

    45

    Source:Petrobras

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    Petrobras,terminalsponsor,commissioned5.1Bcmaterminal

    in2009

    Usesapurposebuiltnear-shore(islandtype)jeyhead

    arrangement Jeyheadisoffshoreandsubject

    tomari*meregula*ons

    GasfromtheFSRUdischargesviathegasdischargearmsonthe

    jeyheadandissenttothegasgridviatheconnec*ngsubsea

    pipeline

    GuanabaraBay,RiodeJaneiro,Brasil(GolarWinter)

    46

    TheExcellenceTransferringItsCargotothe

    GolarSpiritinGuanabaraBay,RiodeJaneiro,Brazil

    Source:Petrobras

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    TheMinaAlAhmaditerminal,originatedbyKuwaitPetroleumCompany,usesanexis*ngjeymodifiedto

    acceptFSRUs

    LNGisthendischargedfromthedeliveringshiptotheFSRUviaaseparatebankofLNGdischargearmsandcryogenic

    pipelinestotheFSRU

    Gasisdeliveredtomarketviahighpressuregasline

    MinaAlAhmadi,Kuwait(Excelerate)1/2

    47

    Source:Excelerate

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    48

    29

    !"# $#

    $#

    %&'()#%*+,-#

    .(/+0#1#

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    678#

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    678#

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