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Lng aglobalperspective2014
1. LNG: a global perspective
Andrew Walker, VP, Global LNG
Methane Shirley Elisabeth LNG vessel
2. Legal notice
The following presentation contains forward-looking statements concerning BG Group plc’sstrategy, operations, financial performance or condition, outlook, growth opportunities or circumstances in the countries, sectors or markets in which BG Group plcoperates. By their nature, forward-looking statements involve uncertainty because they depend on future circumstances, and relate to events, not all of which can be controlled or predicted. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct.Actual results could differ materially from the guidance given in this presentation for a number of reasons. For a detailed analysis of the factors that may affect our business, financial performance or results of operations, we urge you to look at the “Principal risks and uncertainties” included in the BG Group plcAnnual Report and Accounts 2013.Nothing in this presentation should be construed as a profit forecast and no part of this presentation constitutes, or shall be taken to constitute, an invitation or inducement to invest in BG Group plcor any other entity, and must not be relied upon in any way in connection with any investment decision.BG Group plcundertakes no obligation to update any forward- looking statements.
No representation or warranty, express or implied, is or will be made in relation to the accuracy or completeness of the information in this presentation and no responsibility or liability is or will be accepted by BG Group plcor any of its respective subsidiaries, affiliates and associated companies (or by any of their respective officers, employees or agents) in relation to it. 2
3. LNG trade today –a snapshot
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50 years old
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240 mt(32 bcf/d)
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19 exporting countries
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27 importing countries
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376 ships
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10% of all gas consumed worldwide
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30% of internationally traded gas
4. LNG -an evolving trade
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Driving the ‘globalisation’ of the natural gas industry
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a global trade
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a diversifying trade
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an increasingly dynamic trade
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a growing trade
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LNG as a global commodity?
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fragmentation
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liquidity
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Asian gas market hub(s)
–
trade instruments
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5. LNG -increasing impact and influence
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Old ‘world order’ of energy rebalancing?
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North America as energy exporter
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Rise of ‘new Asia’ as consumers
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Energy security in the spotlight in Europe
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New markets opening
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New market segments opening
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Post-Fukushima energy-policies being set worldwide
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6. 0
5
10
15
20
25
2008
2009
2010
2011
2012
2013
2014
2015
$/mmbtu
LNG and gas prices
Oil parity
NBP
HH
Asia long- term proxy
Asia spot
Global
recession
Asia
recovery
Fukushima
earthquake
Note: Asia long-term proxy = 14.85% JCC + 0.50
Oil parity = JCC = Japanese average crude price
Source:Platts, Heren, Petroleum Association of Japan and Bloomberg (as of 21 Aug, 2014)
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7. 0
100
200
300
400
500
2000
2005
2010
2015
2020
2025
LNG trade outlook to 2025
Existing
Under construction
2014 to 2025
CAGR(%) = 4.2 to 5.6
ExternalLNG trade forecasts*
Supply: existingand under construction
Global LNG supply (mtpa)
Sources: Supply (existing and under construction): BG Group interpretation of Wood Mackenzie data (Q2 2014)
*Trade: various research house views;(2014): Wood Mackenzie, FACTS Global Energy, PIRA, Poten;(2013): IHS CERA, Gas Strategies, PFC
New supply:
up to
~155 mtpa
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8. Global LNG imports by region
0
50
100
150
200
250
300
350
2005
2010
2015
2020
2025
Middle East
Other Asia
China
India
JKT
mtpa
Source: BG Group interpretation of Wood Mackenzie data (Q2 2014) –delivered volumes
JKT
China
India
Other
Asia
0
50
100
150
200
250
300
350
2005
2010
2015
2020
2025
Bunkers
Europe
N. America
S. America
S. America
Europe
Pacific Basin
Atlantic Basin
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9. Shipping distances to Asia
Source
Market
Distance
Qatar
Japan
6,314
W. Australia
Japan
3,748
Nigeria
Japan
11,110
Other trades in nautical miles (n)
Source: Dataloy(2014); distance to Japan
W. Russia
E. Russia
US Gulf Coast
W. Canada
9,282 n miles
3,940 n miles
6,747 n miles
Asia Pacific
E. Africa
13,575 n miles
810 n miles
5,186 n miles
E. Australia
3,778 n miles
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10. Observations
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LNG -a ‘globalising’ trade -growing impact and influence
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Continued strong demand growth –Asia focus
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Next generation of supplies now emerging
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N. American exports are changing the game –evolution or revolution?
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Increasing geo-political overlay as LNG globalises
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A dynamic and interesting time to be in this business !
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