Relevant • Independent • Objective www.ceri.ca Natural Gas Liquids (NGLs) in North America: Focus on Western Canada Future outlook and West Coast LPG export opportunities Image Sources: Husky, Pembina, and Lyondellbasell November 13, 2014 Peter Howard President Emeritus & Carlos A. Murillo Economic Researcher Canadian Energy Research Institute (CERI) 1
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Relevant • Independent • Objectivewww.ceri.ca
Natural Gas Liquids (NGLs) in North America:
Focus on Western Canada
Future outlook and West Coast LPG export
opportunities
Image Sources: Husky, Pembina, and Lyondellbasell
November 13, 2014Peter Howard
President Emeritus&
Carlos A. Murillo Economic Researcher
Canadian Energy Research Institute
(CERI)
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Relevant • Independent • Objectivewww.ceri.ca
Presentation Outline
• About CERI and our work
• Upstream: Perspectives on Western Canada Gas Development
• Midstream & Downstream: Infrastructure and ongoing investments
• NGLs Market Fundamentals: LPG market dynamics and outlook/opportunities• North American LPG export availability and West Coast opportunity
• Opportunities for cooperation
• Q&A/Discussion
Image Source: Nova Chemicals2
Relevant • Independent • Objectivewww.ceri.ca
Canadian Energy Research Institute (CERI)Founded in 1975, CERI is an independent, non-profit research institute specializing in the
analysis of energy economics and related environmental policy issues in the energy production, transportation, and demand sectors.
Our mission is to provide relevant, independent, and objective economic research in energy and related environmental issues. A central goal of CERI is to bring the insights of scientific research,
economic analysis, and practical experience to the attention of government policy-makers, business sector decision-makers, the media, and citizens of Canada and abroad.
Our core supporters include the Government of Canada (Natural Resources Canada), the Government of Alberta (Alberta Energy), and the Canadian Association of Petroleum Producers
(CAPP). In-kind support is also provided by the Alberta Energy Regulator (AER) and the University of Calgary.
All of CERI’s research is publicly available on our website at:
www.ceri.ca
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Relevant • Independent • Objectivewww.ceri.ca
Our Work:Current Work (2014 – 2015):
• LNG Update
• Canadian Rail System
• Electricity Requirements for Oil Sands Industry
• Others…
Recently Released Reports (2013 – 2014):
• Canadian Economic Impacts of New and Existing Development in Alberta
• Oil Sands Environmental Impacts
• Natural Gas Liquids (NGLs) in North America: An Update (Parts I – V)
• Others…
Periodicals/Monthly Reports:
• Crude Oil Commodity Report
• Natural Gas Commodity Report
• Geopolitics of Energy (Subscription Service)
Annual Conferences:
• Natural Gas Conference (March 2015)
• Oil Conference (April 2015)
• Petrochemical Conference (June 2015)
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Relevant • Independent • Objectivewww.ceri.ca
Upstream: Perspectives on Western Canada Gas Developments
Image from Husky5
Relevant • Independent • Objectivewww.ceri.ca
Natural Gas In North America
6Images from US Energy Information Administration (EIA), Canadian Centre for Energy Information, and Government of Alberta (GOA)
Canada
Alberta
Relevant • Independent • Objectivewww.ceri.ca
Ethane (C2)
Non-energy Use:
•Petrochemical Feedstock
•Enhanced Oil Recovery (EOR)
Heating, Other
(left in gas)
Propane
(C3)
Energy: Retail
•Commercial/Institutional
•Residential
•Transportation
•Agriculture
Energy: Wholesale (Industrial)
•Oil & Gas
•Manufacturing
•Construction
Non-energy Use
•Petrochemical Feedstock
•Solvent Flood (EOR)
Butanes
(C4s)
Non-energy use
•Gasoline blending
•Petrochemical Feedstock
•Oil sands diluent
•Solvent Flood (EOR)
Pentanes Plus/ Condensate
(C5+)
Non-energy Use:
•Oil Sands Dliuent
•Gasoline blending
•Petrochemical Feedstock
NGLs in Canada: Sources and End-Uses
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Natural Gas, Crude Oil, and Crude Bitumen
Gas Plant Liquids (C2, C3, C4s, C5+)
Refinery Liquefied Petroleum Gases (LPGs)
(Primarily C3, C4s)
Upgrader/Off-gas plants Synthetic Gas Liquids (SGLs)
(NGLs/Olefins Mix)
Wellhead or Field Condensate (C5+)
UP
STR
EAM
MID
STR
EAM
DO
WN
STR
EAM
PROCESSING, TRANSPORTATION, AND STORAGE INFRASTRUCTURE
Images from Canadian Centre for Energy Information, Keyera, Imperial Oil, Inter-pipeline Fund, and US EIA. Figure by CERI
Relevant • Independent • Objectivewww.ceri.ca
Canadian Midstream Infrastructure: From natural gas to NGLs to end-use markets
- Robust and extensive midstream and marketing infrastructure in Canada
targeting local and US markets
- Large natural gas storage and marketing hub (AECO-C) with takeaway export
capacity exceeding 15 bcf/d out of Western Canada
- Approximately 700 gas extraction plants(including over 50 deep-cut facilities) with over 30 bcf/d of extraction capacity and 15
bcf/d of re-processing or straddle plant capacity with ability to extract large
volumes of NGLs
- Approximately 400 kb/d of NGLs gathering pipeline capacity to Ft. Sk, ~400 kb/d of NGLs pipeline import capacity and ~200
kb/d of NGLs pipeline export capacity
- Over 1 MMb/d of fractionation capacity at the field and merchant levels with 300 kb/d
located at Ft. Sk and >100 kb/d in Sarnia
- ~40 MMb of NGLs storage capacity
- Integrated rail and truck NGL loading and offloading terminals
- Ethylene cracking facilities with capacity to absorb ~300 kb/d of NGLs and produce 11
MMlbs/yr of ethylene derivatives
Figure by CERI, with data from PenWell MAPSearch 10
NATURAL GASNGLs
Relevant • Independent • Objectivewww.ceri.ca
NGLs Pipelines and Storage
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Bo
real
Figure by CERI, with data from IHS Energy (University of Calgary), AER, BCME, OGJ, SOEP, various industry sources . Logo from Alberta Industrial Heartland Association (AIHA) and City of Edmonton
Pipeline Est. Capacity (kb/d) Product
Peace HVP System (NGLs) 76 C2+/ C3+
Cochrane-Edmonton (Co-Ed) System 68 C3+
Brazeau NGL Gathering System 57 C2+
Peace LVP System (Condensate) 52 C5+ (Includes Crude)
Northern System 49 C2+/ C3+
Boreal 43 NGLs/ Olefins Mix
Bonnie Glen 33 C5+ (Includes Crude)
Judy Creek 30 C3+
Total Raw Mix Pipelines Est. Capacity 408
Alberta Ethane Gathering System (AEGS) 334 Spec C2
Ethylene Delivery System (EDS) 86 Ethylene
Joffre Feedstock Pipeline (JFP) 48 NGLs
Enbridge Mainline (Lines 1/5)* 127 C3+ Mixes
Kerrobert (to Enbridge) 124 C3+ Mixes
Alliance Pipeline 93 NGLs in Gas
Cochin Pipeline 71 Spec C3/ USMW E/P Mix
Petroleum Transmission Company** 27 Spec C3/ C4
Total NGL Export Pipelines Est. Capacity 442
Southern Lights/ Line 13 171 C5+
Mariner West (Late 2013/ Early 2014) 48 Spec C2
Vantage Pipeline (2014) 43 Spec C2
UTOPIA Pipeline (2017-18)*** 59 Spec C2/ Spec C3
Total NGL Import Pipelines Est. Capacity 321
*Net of Kerrobert/ **CERI Estimate/ ***Announced
Raw Mix Pipelines to Ft. Saskatchewan
Petrochemical Feedstock Pipelines
NGL Export Pipelines
NGL Import Pipelines
Ft. Saskatchewan,
AB23.0 61%
Kerrobert, SK2.5 6%
Sarnia/ Corunna, ON
12.4 33%
NGLs Storage Capacity (MMb)
Total: 38 MMb
Relevant • Independent • Objectivewww.ceri.ca
North American Class I Railways and Major Canadian NGL Handling Facilities and Rail Car Fleet
• In 2012, 2/3 (or 88 kb/d) of all Canadian LPG exports (123 kb/d) moved via rail (C3/C4 split: 75/25)
• All exports to US markets
• CERI estimates that about 1,700 pressure-rated tank cars would have been used to transport those volumes, assuming a two-week return trip
• Rail transport is an important component of the LPG supply chain in Canada
• Going forward, most LPG exports from Canada will move via rail
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Facility Onwer/ Operator Type Capacity (kb/d) Location
Redwater Pembina Pipeline Corporation C5+ rail off load facil ity 75 AB NGL Hub
Alberta Diluent Terminal (ADT) Keyera Corp. C5+ rail off load 50 AB NGL Hub
Canadian Propane Exports Canadian Butane Exports Total LPG Exports via Rail
Total LPG Exports Estimated # of Railcars required
Relevant • Independent • Objectivewww.ceri.ca
NGLs Pipeline and Fractionation Utilization(1) Overall NGLs gathering system capacity utilization
increasing over the last few years
While overall system utilization levels are estimated at around 80%, utilization levels at certain systems (i.e., Peace system) are estimated to be well above 90% and various expansions have been announced
- Pembina’s Peace NGL pipeline system expected to expand rapidly and significantly between 2011 and 2016/17
- Keyera is currently gauging producers’ interest in an alternative NGLs gathering pipeline system (ALPS) between Gordondale and Ft. Saskatchewan
(2) A similar situation is developing around fractionation plants: utilization increasingRFS (Pembina), KFS (Keyera), and DFS (Dow) are estimated to be running at close to capacity while PFS (Plains) utilization is lower- Expansion announcements by both Pembina and Keyera- Higher NGL mix volumes are estimated to be moving
east on Enbridge system to Sarnia fractionatorExpansion of pipelines and fractionation capacity indicates
confidence on increased NGL production/availability in Western Canada as a long-term sustained trend
2
RESULT: Multi-year, multi-billion $ expansion of NGLs midstream infrastructure in Alberta. Most pipeline and fractionation investments are expansions of existing assets, while new gas processing plants will be developed at the field level Crude oil and condensate storage and transportation logistics infrastructure would also be expanding
Figure by CERI, with data from AER and Pembina Pipelines
Relevant • Independent • Objectivewww.ceri.ca
$2,953 27%
$2,855 26%
$1,385 13%
$1,358 13%
$1,785 16%
$563 5%
Deep Cut Plants Expansion & New Builds / Straddle Plants/ Co-stream Facilities
NGLs Pipelines
Other Gas Processing/ NGLs Extraction Facilities (Mainly Shallow Cut)
Producer-owned Midstream Divestitures
NGLs Fractionation
Other Midstream Assets (Storage & Logistics)
Total: $10,899 MM (2011 - 2016)
$1,500 38%
$1,550 39%
$900 23%
LPG Export Terminals
Ethane/ Ethylene Petrochemicals
Propane Petrochemicals (PDH)
Total: $3,950 MM (2011 - 2016)
Midstream and Downstream Investments
(1) The midstream business in AB is dominated by a few large firms. In 2012, the top 15 companies accounted for 93% of all extracted spec NGLs
- Top third-party midstream players include Keyera Energy, Pembina Pipelines, Plains Midstream, Inter-pipeline Fund, Spectra Energy, and Altagas
- Other large midstream players are integrated either upstream or downstream: Shell, CNRL, Husky, Suncor, Conoco, Dow, etc.
(2) Utilization rates for both NGL pipelines and fractionators are high and expected increases in NGL volumes have led to close to $11 billion (B) in investments on midstream infrastructure (2011 –2016/17) (Average $1.6 B/yr)
- A large portion of these investments is in deep-cut gas processing plants targeting incremental ethane extraction (IEEP)
(3) Meanwhile, close to $4 B in downstream investments have been announced including ethane and propane based petrochemical facilities as well as LPG export terminals (2011 – 2016/17) (Average $0.6 B/yr)
That is a total of close to $15 B (avg. $2.1 B/yr) in midstream and downstream investments between 2011 and 2016-17 to monetize NGLs in Western Canada. Will there be a second wave post-2017?
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15%
13%
11%
11%10%
9%
8%
7%
3%2%
1%1%1%1%1%
7%
Keyera Energy Ltd.
Pembina NGL Corporation
Plains Midstream Canada ULC
Inter Pipeline Extraction Ltd.
Dow Chemical Canada ULC
Spectra Energy Empress Management Inc.
AltaGas Ltd.
1195714 Alberta Ltd.
Shell Canada Energy
Canadian Natural Resources Limited
ATCO Midstream Ltd.
Husky Oil Operations Limited
Suncor Energy Resources Partnership
SemCAMS ULC
ConocoPhillips Canada (BRC) Partnership
Other (87)
Top 15 = 425 kb/d (93% of Total) Other (87) = 30 kb/d (7%)
Total (107) = 455 kb/d
Spec NGLs
1
2
3
Figures and Analysis by CERI, with data from AER and Industry Data
Relevant • Independent • Objectivewww.ceri.ca
New Markets for WCSB gas and Required Infrastructure: Liquefied Natural Gas (LNG) Proposed Projects and Pipelines
Infrastructure requirements for such projects will be significant and costly: Multiple billions of dollarsRequired infrastructure includes gas gathering systems, gas processing plants, large-diameter/high-volume
gas transportation systems, gas liquefaction plants, NGLs pipelines, fractionation facilities, storage and logistics facilities
15Table and map from NEB
Relevant • Independent • Objectivewww.ceri.ca
Projected Midstream Infrastructure Investments in North America: 2014 – 2035 (ICF International, 2014: INGAA Study)
(1) A recently released study by ICF International completed for the Interstate Natural Gas Association of America (INGAA) estimates that between 2014 – 2035 $641 B in midstream capital expenditures are required in North America of which about 22% or $139 B are required in Canada at an average of $6.7 B/yr
(2) This includes $58 B in natural gas infrastructure (42% of Canada’s total) including gathering and transmission pipelines, compression, lease, storage, and processing facilities ,as well as LNG export facilities (avg. $2.8 B/yr)
(3) Also included are $12 billion in NGLs infrastructure (9% of Canada’s total) including transmission pipelines, fractionation, and export facilities (avg. $0.6 B/yr)
(4) The remaining $69 B are allocated to crude oil infrastructure (49% of Canada’s total) including gathering and transmission pipelines, as well as lease and storage equipment (avg. $3.3 B/yr)
These estimates might be conservative and the largest share is likely to occur at the front-end of the projection period (before
2025). The magnitude is by any means very significant and highlights the capital intensity of midstream infrastructure
Supply (Grey bars): • About 75% of propane supply extracted at gas plants/ fractionators in Canada, other 25% consists of production from refineries, upgraders,
imports, and stock changes• About 50% of propane extracted in Western Canada’s gas plants moves to Ontario as an NGL mix to be fractionated• Increased production of NGLs in Western Canada is being driven primarily by increases in propane productionDisposition (Red bars): • Domestic demand increasing rapidly driven by energy uses in the mining, oil and gas extraction, and manufacturing sectors, followed by increase
propane use as a petrochemical feedstock in Ontario, and increased use for propane in the residential and commercial sectors• In 2012, Ontario (46%), Alberta (32%), and Quebec (8%), combined, accounted for 86% of domestic propane demand• Overall exports to the US have been declining (shrinking LPG market) with the largest drop occurring in regards to exports to the US Midwest
(PADD II), while increased Canadian exports to the US northeast (PADD I) have displaced US overseas propane imports• Majority of exports to the US now move via rail = higher transportation costs • Edmonton prices are the lowest across North America• North America is in an oversupply position and USGC LPG export terminals are acting as a relief valve, keeping prices afloat
Figures and Analysis by CERI, with data from AER, BCMNGD, NEB and Statistics Canada
Altagas Corp./Petrogas/Idemitsu Kosan BC Coast 2017 460 30
Total Proposed Canada 1,030 67
Total Proposed North America 18,346 1,197
Total Existing + Proposed North America 24,376 1,590
Canada
LPG Export Projects in North America
United States
In Operation
Proposed
United States
Increasing Demand for Propane in North America = Feedstock Competition
Figures and Analysis by CERI, with data from Propane Research Council (PRC) and Industry
(1) Various PDH projects have been proposed in North America to take advantage of increased C3 availability and to produce on-purpose propylene as ethylene crackers move to lighter feeds (reducing co-product yields)
• Including a PDH facility in AB (25 kb/d C3 feed) aiming to attract derivative investors. Williams has indicated the possibility of building up to two or three PDH plants
• Feedstock requirements: 50 – 75 kb/d of WCSB C3
(2) High global LPG prices and improved propane netbacks in North America through an existing arbitrage opportunity have resulted in various LPG export project proposals/expansions
• Including two in the West Coast targeting WCSB LPGs with the potential to export ~70 kb/d to the Asia-Pacific market
• Petrogas/Altagas/Idemitsu (JV) recently agreed to purchase Chevron’s Ferndale, WA LPG import/ export terminal (~30 kb/d)
• Altagas indicated this is in addition to their BC coast plans
• Pembina has applied for an NEB export license plus made a deal with the Portland (OR) Port Authority for an LPG export site
SUPPLY: Production from gas plants flat. Refinery LPG production decreasing. Extraction from synthetic gas liquids is minimal. Flat import volumes from US
DEMAND: Domestic refining and petrochemical demand is flat to declining. Diluent demand is increasing.
Export volumes to the US decreasing similarly as with the case with propane. Need to find new markets such as LPG exports or new local demand sources such as oil sands solvents
Propane Pricing(1) In North America (NA), prices are set at Mt. Belvieu, TX (USGC). C3 normally trades at a price range between the price of C2 (floor: petrochemical feedstock) and butanes (ceiling: fuels market). Given propane’s widespread use in the heating market, weather is an important pricing factor Across
(2) North American C3 prices: Edmonton trades at a discount to Conway which in turn trades at a discount to Mt. Belvieu (USGC). The USGC-EDM differential has widened to reflect increasing transportation costs as more LPG moves via rail to export markets
(3) Internationally, globally traded prices are set according to the Saudi contract price (CP), which is highly correlated to crude oil prices, thus creating a large arbitrage opportunity between Western Canada and areas served by Saudi CP contracts such as the Asia-Pacific region
PRICING BANDWCSB - ASIA PACIFC ARBITRAGE ($/BBL)AB PROPANE @ EDM ($/BBL)MT BELVIEU PROPANE @ USGC ($/BBL)SAUDI PROPANE CP FOB @ ME ($/BBL)SAUDI % OF CRUDE OIL (BRENT)
1
Data from industry and various data sources. All figures by CERI
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Relevant • Independent • Objectivewww.ceri.ca
Butanes Pricing(1) Mixes butanes prices in North America generally trade a price range between the price of propane (floor: petrochemical feedstock/fuel market) and crude oil (ceiling: refining/gasoline market)
(2) Since 2008 prices at Conway have traded at a discount to USGC, while Edmonton has become a premium market, trading at premiums to the USGC, Conway, and even Sarnia
(3) Internationally, globally traded prices are set according to the Saudi contract price (CP), which is highly correlated to crude oil prices, thus creating a small arbitrage opportunity between Western Canada and areas served by Saudi CP contracts such as the Asia-Pacific region
Data from industry and various data sources. All figures by CERI
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Relevant • Independent • Objectivewww.ceri.ca
Propane netbacks example
Netback = Price at target market location – marketing costs to get the product to market location
Marketing costs include: processing, fractionation, storage, and transportation costs
In the figure above, work from the black dot (market price at destination) and subtract all the marketing costs (green, orange, and light blue bars) to get to the estimated netback (bright blue bars)
23Data from industry and various data sources. All figures by CERI
• Total worldwide end-use LPG demand in 2012 was 7.7 MMb/, out of which 3.1 MMb/d (or 40% of total) occurred in the Asia-Pacific region (Japan: 0.6 MMb/d)
• Asia-Pacific is fastest growing region in terms of population, economic growth, and energy-use
• Residential/Commercial and petrochemical uses for LPG are the largest and fastest growing end-use sectors
• Global trade in 2012 was about 2.9 MMb/d or 37% of total demand
• Global trade is characterized by large surplus volumes available for exports from OPEC countries and large import requirements from the Asia-Pacific region
• Large degree of import dependency in Asia-Pacific (40% of supply)
• Most local supplies from refineries
• But refined crude is also imported to a large extent
• Pricing dominated by Saudi contract prices
• North American supplies emerging as a new supply source
Export to PADD V Export to PADD IV Export to PADD III
Export to PADD II Export to PADD I West Coast LPG Eports
Pembina: Portland, OR Altagas/Idemitsu: BC Coast Petrogas: Ferndale, WA
LPG Export Capacity Available for US/LPG Exports
158
140 15
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81 81
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330 330 331 335 339 345 356 362
369 378
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kb/d
Statistical Adjustment
Stock Changes
US Imports
Off-Gas Plants
Refineries
CAD Gas Plants
Available for US/LPG Exports
Non-Energy Demand
Retail Energy Demand
Wholesale Energy Demand
TOTAL SUPPLY
LNG Tsunami Propane Outlook(1) Canadian Propane S/D
Supply:
- Gas plant production fluctuates with overall increasing volumes (assumes one large BC LNG project recovers C3+ NGLs)
- Off-gas plants production increases
- Refinery LPG production continues to fall
- Assumes UTOPIA pipeline (Marcellus/Utica ON) can bring ~75 kb/d of C3 to Eastern Canada from USNE
Demand:
- Industrial (Wholesale) and Retail demand continue to grow, but at a slower pace than over the last decade
- Petrochemical demand increases rapidly after 2016 as PDH plants get built (assumes 3 PDH plants in Western Canada by 2021)
(2) Exports: Post 2012, an average of 80 kb/d of C3 are available for exports. (Almost enough to fill three LPG export facilities in BC and WA the US West Coast)
Upside potential: - Marcellus/Utica ON C3 volumes above and beyond UTOPIA pipeline capacity
- Wholesale and retail demand could increase at a slower pace than expected freeing up barrels for export market
Downside risk: - No C3+ extraction from BC LNG projects
- Lower flows from US CAD (price competition and market optionality) = lower supply available (BIGGEST RISK!)
- Wholesale and retail domestic energy demand could increase at a faster pace than expected
- Lower supply and higher domestic demand leads to less propane volumes available for petrochemical facilities and exports
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Relevant • Independent • Objectivewww.ceri.ca
Evolving Propane dynamics in Canada: What is required for West Coast LPG exports?
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kb/d
Western Canada Propane Supply/Demand
Gas Plants Extraction Upgrader SGLs Refinery ProductionImports Stocks Statistical AdjustmentLocal Demand Est. Transfers to Eastern Canada Available for Exports
89 94 91 91 89
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96 102
96 94 90
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Est. Transfers to Eastern Canada
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Eastern Canada Propane Supply/Demand
Gas Plants Etraction Refinery Production Transfers from Western CanadaUS Imports Stocks Statistical AdjustmentLocal Demand Eastern Canada Exports to US Eastern Canada Supply
Export to PADD VExport to PADD IVExport to PADD IIIExport to PADD IIExport to PADD ILPG ExportsAvaialble for ExportsLPG Terminals Spare Export Capacity Available
LNG Tsunami Butanes Outlook(1) Canadian Butanes S/D
Supply:
- Gas plant production fluctuates with overall increasing volumes (assumes one large BC LNG project recovers C3+ NGLs)
- Off-gas plants production increases
- Refinery LPG production continues to fall
- Assumes flat import levels from US of about 10 kb/d
Demand:
- Refinery and petrochemical demand flat over outlook period
- Demand for C4s as diluent increases slightly
- Increased used of C4s as a solvent in SAGD projects
- (2) Exports: Post 2012, an average of 16 kb/d of C4s are available for exports (Assumes any spare capacity in LPG export terminals from C3 will be filled with C4s)
Upside potential:
- Increased levels of US imports
- Demand levels in the refining and petrochemical could fall overtime resulting in more volumes available for export
Downside risk: - No C3+ extraction from BC LNG projects
- Increased demand from oil sands projects (either as a diluent or as a solvent) could result in lower volumes of C4s available for exports
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Canadian LPG Export Scenarios
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POWER WAVE FULL SPEED AHEAD
NOWHERE FAST LNG TSUNAMI
NO LNG PROJECTS
0 0 0 0 0 0 0 0 0 0 0 0
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28
20
29
20
30
HISTORICAL/ACTUAL OUTLOOK
kb/d
LPG Export Capacity
Butanes
Propane
Total LPG Exports
- - - - - - - - - - - -
8
18
30
43
76
97 97 97 97 97 97 97 91
84
75 69
65
-
20
40
60
80
100
120
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
20
20
20
21
20
22
20
23
20
24
20
25
20
26
20
27
20
28
20
29
20
30
HISTORICAL/ACTUAL OUTLOOK
kb/d
LPG Export Capacity
Butanes
Propane
Total LPG Exports
0 0 0 0 0 0 0 0 0 0 0 0
8
18
30
43
76
91
69
97 95
88 8682 81
88 88 9093
0
20
40
60
80
100
120
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
20
20
20
21
20
22
20
23
20
24
20
25
20
26
20
27
20
28
20
29
20
30
HISTORICAL/ACTUAL OUTLOOK
kb/d
LPG Export Capacity
Butanes
Propane
Total LPG Exports
0 0 0 0 0 0 0 0 0 0 0 0
8
18
30
43
76
97 97 97 97 97 97 97 97
85
70
58
47
0
20
40
60
80
100
120
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
20
20
20
21
20
22
20
23
20
24
20
25
20
26
20
27
20
28
20
29
20
30
HISTORICAL/ACTUAL OUTLOOK
kb/d
LPG Export Capacity
Butanes
Propane
Total LPG Exports
Relevant • Independent • Objectivewww.ceri.ca
Potential North American LPG Exportable Surplus
29
-
200
400
600
800
1,000
1,200
1,400
1,600
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
20
20
20
21
20
22
20
23
20
24
20
25
20
26
20
27
20
28
20
29
20
30
HISTORICAL OUTLOOK
kb/d
North American LPG Export Surplus by Country
Canadian LPG Exportable Surplus US LPG Exportable Surplus