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Vancouver board of trade oil & gas markets

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A presentation delivered by CAPP's Greg Stringham.

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Vancouver board of trade oil & gas markets

  1. 1. Canada’s Natural Gas & Oil Resources on a Global Stage Vancouver Board of Trade November 5, 2013 1 #233082
  2. 2. Enabling Responsible Development 2
  3. 3. Canadian Crude Oil Source: Cenovus
  4. 4. Global Crude Oil Reserves by Country Oil Sands 141 102 100 92 80 48 Source: Oil & Gas Journal Dec. 2012 4 Russia Abu Dhabi Kuwait I raq I ran Canada Saudi Arabia Venezuela 50 0 Other 44% 37 30 26 25 21 United States 150 56% Qatar 155 Open to Private Sector Restricted (81%) 173 200 Open to Private Sector China billion barrels 250 Kazhakhstan 265 Nigeria 298 World Oil Reserves Libya 300 ls rre a n b v es lio bil eser 9 16 ds r es an lud oil s I nc of
  5. 5. Canadian Crude Oil Production Forecast 5
  6. 6. 2012 Canada and U.S. Demand for Crude Oil by Source Thousand Barrels per Day 6
  7. 7. Changing Global Oil Import Needs Net oil imports in the New Policies Scenario 14 12 10 mm d / b 8 2005 2011 6 2020 4 2035 2 0 China India Source: IEA World Energy Outlook 2012, EIA 7 European Union United States Japan Korea
  8. 8. Access to Markets – Pipeline Expansions in Development
  9. 9. WCSB Takeaway vs Supply Forecast 9
  10. 10. Canadian Natural Gas 10
  11. 11. North American Unconventional Gas Resources 11
  12. 12. Current Disposition of W. Canada’s Natural Gas Production (2012) TransCanada Alberta (NGTL) Westcoast ANG/ Foothills Northwest SoCal TransCanada Transmission Mainline Foothills PGT Northwest West 2.5 bcf/d PG&E Kern River Great Northern Lakes Border Trailblazer Transwestern ANR NGPL Mid West Panhandle El Paso 4.8 bcf/d NGPL El Paso 12 Domestic 5.3 bcf/d Alliance ANR East TQ&M 1.1 bcf/d M&NE IroquoisPNGTS t or ec CNG V Texas Eastern Transcontinental Algonquin
  13. 13. Natural Gas – Market Opportunities ● ● ● ● LNG for export Oil Sands growth Gas-fired power and cogeneration Vehicles – CNG/LNG NATURAL GAS DEMAND BY SECTOR - 2035 Oil Sands 20.3% LNG 19.2% Vehicles 0.2% Electricity Generation 13.4% 13 Industrial 21.5% Residential 13.3% Commercial 12.1% Source: The Conference Board of Canada December 2012
  14. 14. Imports to Asian Economies with Growing Natural Gas Requirements (Bcf/d) 50 45 40 2 h of t row G 35 6 or 1 Bcfd 7 7% 30 China 25 Taiwan 20 India South Korea 15 Japan 10 5 0 2010 2015 2020 2025 2030 Source: EIA 2013 International Energy Outlook, Press reports, CAPP 14 2035 2040
  15. 15. Canadian LNG export projects in development ● ● ● ● ● ● ● ● ● Kitimat LNG (Chevron, Apache)  1.4 Bcf/d  Permits received; awaiting investment decision BC LNG Export Co-operative  0.125 Bcf/d  Permits received LNG Canada (Shell, KOGAS, Mitsubishi, PetroChina)  2.0 – 3.2 Bcf/d  Feasibility stage; applied for some permits Pacific Northwest LNG (Progress/Petronas, Japex)  2.0 Bcf/d (Merger approval granted)  Completed feasibility, progressing to pre-FEED Nexen/Inpex  Conducting feasibility Prince Rupert LNG (BG Group)  3.0 Bcf/d  Advancing feasibility, applying for permits AltaGas/Idemitsu Kosan  0.27 Bcf/d  Conducting feasibility ExxonMobil/Imperial Oil (WCC LNG Ltd)  4.0 Bcf/d  Applied for export licence Woodfibre LNG  0.3 Bcfd  Applied for export licence Expressions of interest to proceed with a project have also been made by; Woodside Petroleum & South Korea E&S 15 Total potential new demand ~ 13.0 Bcf/d
  16. 16. Canada’s Export Opportunity ● Ports of Kitimat and Prince Rupert are closer to Asia than any other North American port  8 sailing days to Japan  9 sailing days to Korea  11 sailing days to China Source: Apache Corporation 16
  17. 17. Canadian Production – Market Constrained Case and New Market Opportunity Case Market Constrained Case Eastern Canada CBM New Market Opportunity Case 17 Western Canada Unconventional Western Canada Conventional
  18. 18. B. C. Production –– Market Constrained Case and New Market Opportunity Case Market Constrained Case New Market Opportunity Case 18
  19. 19. Safe, Environmentally Responsible ● Production  GHG emissions reductions  Water – oil & natural gas  Land & wildlife ● Transportation  Pipelines & Rail • Integrity & operations  Marine • Prevention, response and recovery – tankers/ports ● Regulation and Monitoring  Enhanced monitoring – more sites, more transparency & reporting 19
  20. 20. Jobs and Economic Benefits
  21. 21. What’s in it for us?
  22. 22. Investment in B.C.’s natural gas sector ● ● ● ● $5.2 billion invested in 2012 $6.7 billion invested in 2011 $82 billion invested up to 2012 $13.5 billion spent on acquisitions in B.C. gas plays by foreign companies from 2010 to date 10 8 Capital Investment in British Columbia 6 s r a d n o l i B 4 2 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 22
  23. 23. BC Benefits Watson Gloves 23 Ideal Welders Wright’s Food Service Northern Lights College
  24. 24. Direct Suppliers in British Columbia Current survey shows just under 400 companies
  25. 25. Being Part of the Discussion @oilgascanada www.facebook.com/OilGasCanada 25

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