CNOOC LNG business update - · PDF fileCNOOC LNG business update CNOOC Gas & Power Group Sept, ... Tangguh LNG Bintulu LNG ... Construction 2018 Total 5.0 . Title:

CNOOC LNG business update

CNOOC Gas & Power Group

Sept, 2017

8.30%

9.10%

10% 10.10%

11.30%

12.70%

14.20%

9.60% 9.20%

10.40%

9.30%

7.70% 7.70% 7.40%

6.90% 6.70% 6.90%

0%

2%

4%

6%

8%

10%

12%

14%

16%

0

10

20

30

40

50

60

70

80

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017H1

GDP y-o-y Growth

Chinese Economy Entering into New Normal

Growth (y-o-y) Trillion RMB

Source : National Bureau of Statistics of China

Gas Consumption Growth Makes Sharp Rebound

Source : National Bureau of Statistics of China、National Development and Reform Commission

Bcm Growth (y-o-y)

14.88%

20.05%

15.62% 15.27%

10.12%

19.86%

21.65%

12.08%

16.57%

9.59%

3.37%

6.60%

11.70%

0%

5%

10%

15%

20%

25%

0

50

100

150

200

250

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017H1

Gas Consumption Growth

LNG Imports Growth Especially Robust

Source : CNOOC

0

5

10

15

20

25

30

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017H1

CNOOC China

More than compensated lackluster imports growth in the previous two years.

Million tons

Aggregator Model

Point to point sale

Supplier A Supplier B Supplier C

…

CNOOC

GPTM

Downstream

Buyers

Dapeng Terminal Downstream Buyers

FujianTerminal Downstream Buyers

North West Shelf LNG

Tangguh LNG

Bintulu LNG Shanghai Terminal Downstream Buyers

CNOOC’s LNG Business Model

LNG Trucking

LNG Truck Loading Statistics

January 2017

Average: 307 trucks/day

June 2017

Average: 565 trucks/day

Area 21 Jan, 2017

21 July, 2017

Yuedong LNG

0 76 trucks

Zhejiang LNG

87 trucks 221 trucks

Tianjin LNG

60 trucks 279 trucks

LNG Trucking

LNG Terminal Additions

Yuedong, Guangdong Capacity: 2.0 mtpa. Startup: 2017

Shenzhen, Guangdong Capacity: 3.0 mtpa. Startup: 2017

The total capacity of CNOOC’s LNG receiving

terminal will be 30.8 mtpa at the end of

2017.

CNOOC CNPC SINOPEC Guanghui

Qidong, Jiangsu Capacity: 0.6 mtpa. Startup: 2017

Qidong LNG began commercial operation in June, 2017. It is the first LNG-import terminal wholly owned by private company Guanghui Energy in China.

Yuedong LNG began commercial operation in June, and Shenzhen LNG will come online later this year.

THANK YOU!

Independent Players

The companies are also building and planning their own receiving and storage facilities so they can have direct control over their future purchase prices and volumes.

Project Capacity

(mmtpa) Shareholder Status

Estimated

Start-up

Jovo LNG 1.5 JOVO Operational

Qidong LNG 0.5 Guanghui Operational 2017

Zhoushan LNG 3.0 ENN Under-

Construction 2018

Total 5.0