WHAT’S NEXT: a glance into the future of Shipping George Polychroniou Poseidon Med II - Project Manager Executive Director Strategy, Business Development, Administration & IT DEPA – Public Gas Corporation S.A. LNG for bunkering Prospects in Greece and Southeast Europe Athens, May 2018
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WHAT’S NEXT: a glance into the future of Shipping
George PolychroniouPoseidon Med II - Project Manager
Executive Director Strategy, Business Development, Administration & ITDEPA – Public Gas Corporation S.A.
LNG for bunkeringProspects in Greece and Southeast Europe
Athens, May 2018
I. Current LNG Market Conditions
II. SSLNG Potentials in Greece and Southeast Europe
III.What’s Next?
Content
I. Current LNG Market Conditions
II. SSLNG Potentials in Greece and Southeast Europe
III.What’s Next?
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Africa OECD Asia Non-OECD Asia CIS
Europe Latin America Middle East North America
LNG Demand (includes boil-off gas) (Mmtpa)
Global LNG Demand
LNG Demand growth under all scenarios
Non-OECD Asia is the main growth market
Europe remains the residual market
LNG demand as transportation fuel
grows in importance
Source: IHS Markit
Mid scale
storage
End user(NG)
Small scale
shipping
Evapo-ration
Truck transp
ort
Ship bunkeri
ng
Small scale
storage
End user (NG)
Evapo-ration
HubPipelin
e
End user (NG)
Gas explo-ration
Liqui-faction
Large scale
shipping
Evaporation
Source: Wartsila
LNG for shipping needs smaller scale LNG Infrastructure
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European LNG Infrastructure
Most European LNG Terminals provide already loading LNG Truck Stations while in the sametime, premises with the capability of LNG bunkering are increasing significantly.
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Global Infrastructure for LNG Bunkering
I. Current LNG Market Conditions
II.SSLNG Potentials in Greece and Southeast Europe
III.What’s Next?
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Importance of SSLNG Market in Greece
Greece could be an international LNG
bunkering & distribution hub in
SE Europe
Tradition - Greece is a world leader in shipping
Strategic geographical position
Important internal short sea activity (53 Islands with population >1.000 - 111 ports)
Need for LNG for other uses (potential for gasification of remote areas)
Availability of LNG supply / infrastructure (LNG Terminal – Revithoussa)
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East Mediterranean: Shipping Traffic
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Piraeus is a key port in Global Bunkering
Piraeus on Global Map
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Marine Fuel IndustryRoad
TransportPower Plan
Commercial Sector
Domestic Sector
LNG Distribution in small scale to serve:
• New Markets for transport(bunkering, road transport)
• High density residential areas & large industrial & commercial customers in Western Greece & the Islands without access to Natural Gas
• Non interconnected power generation plans
SSLNG Infrastructure - Synergies
Existing NetworkNetwork under Development
New Regions
Main HP System
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Poseidon Med II
Poseidon Med II is a key European project aiming to take all the necessary steps towards adoption of LNG as marine fuel in the Eastern
Mediterranean Sea, while making Greece an international marine bunkering and distribution hub for LNG in South Eastern Europe.
Revythoussa is a small island located in the SaronicGulf approx. 15miles away from Piraeus Port. Since 1999 it has been operating the main LNG Terminalwhich is one of the most important infrastructures in Greece.
New Infrastructure(Under Development)
• To load bunkering/feeder Vessels
• Truck Loading
Regional role in SE Europe
LNG ($/MMBtu)
MGO ($/MMBtu)
IFO 380 ($/MMBtu)
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Current Marine Fuel prices vs LNG prices
Source: S&P Global - Platts
13,330
7,443
7,200
13,189
7,694
8,550
13,471
7,443
7,497
13,835
7,643
8,30015,047
8,160
8,200
12,320
7,172
7,196
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Long Term Price Comparison
Last Decade
MGO = 18,76 Brent
LNG = 10,45 Brent
Ιαν-
08
Σεπ
-08
Μα
ϊ-0
9
Ιαν-
10
Σεπ
-10
Μα
ϊ-1
1
Ιαν-
12
Σεπ
-12
Μα
ϊ-1
3
Ιαν-
14
Σεπ
-14
Μα
ϊ-1
5
Ιαν-
16
Σεπ
-16
Μα
ϊ-1
7
Ιαν-
18
($/M
MB
tu)
MGO MED LNG SWE
0 50 100 150
($/M
MB
tu)
Brent ($/bl)
MGO MED LNG SWE
MGO=18,2% Brent
LNG=10,87% Brent
Today
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DEPA’s Strategic Goals
• Maintain a leading role in the liberalized competitive domestic
market.
• Increase the natural gas penetration in the Greek energy
market by developing infrastructure projects and by supplying
natural gas to regional markets (mainland, Aegean islands).
• Become a key player in the broader region – expand trading
activities through participation in international infrastructure
projects.
• Maintain and continuously improve the competitive and
sufficiently diversified natural gas supply portfolio.
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DEPA’s Strategic Planning
DEPA aims to develop SSLNG projects, in cooperation with private investors, to supply new users/markets with NG
• LNG as marine fuel
• LNG/CNG in road transport sector
• LNG for Power Generation Plants on Greek Aegean islands
• LNG for off grid areas mainly in Western Greece (individual/remote consumers, potential distribution companies),
George PolychroniouExecutive Director
Strategy, Business Development, Administration & IT