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TOTAL'S LNG IN THE MIDDLE EAST – Total SA

Total SA · Nov 8, 2008 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 1
    Totals LNG in the Middle East Philippe Boisseau President, Total Gas & Power Investor Relations Middle East Field Trip November 2008
  2. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 2
    LNG supply and demand trends Investor Relations Middle East Field Trip - www.total.com 3C2130
  3. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 3
    Strong Asian demand led to a tight LNG market 2007 LNG supply-demand Main LNG consuming LNG producing markets countries Asia Atlantic Mt/y 120 Basin 120120 Mt/y 100 100 8080 80 80 60 60 4040 40 40 20…
  4. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 4
    US gas production recently stimulated by higher gas price reducing LNG imports Atlantic Basin vs Asian gas prices Gas supply in the US /MBtu Bcf/d Bcf/d 20 3 60 Domestic Production 16 LNG imports 2 55 12 4-6 /MBtu 8 1 50…
  5. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 5
    LNG supply growth will bring short-term relief to a currently tight market Qatargas II TA - 2008 Sakhalin II T1 - 2009(e) Qatargas II TB - 2009(e) Sakhalin II T2 - 2009(e) Qatargas III T6 - 2009(e) Qatargas IV T7 - 2010(e)…
  6. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 6
    LNG supply tight over the medium to long-term Main LNG consuming LNG producing markets by 2020(e) countries in 2020(e) Planned capacity in 2011(e) Potential capacity in 2020(e) 5-15 years necessary to prepare and start up new…
  7. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 7
    Overcapacity of shipping and regasification to facilitate LNG globalization and arbitrage development Regasification capacity LNG shipping Number of LNG tankers entering into service each year 50 Mt/y 465 505 30 Global 315…
  8. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 8
    LNG to grow from 8% to close to 20% of global gas consumption over the long-term Global LNG supply-demand LNG production Existing projects Mt/y Under construction Mt/y Planned projects Possible projects 400 400 Other demand…
  9. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 9
    Asian LNG prices converging toward oil price parity West of Suez East of Suez Troll 70% Brent parity (strong correlation) 75% of post-2010 Japanese LNG volume under NBP-Troll correlated on yearly average price negotiation HH : at a…
  10. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 10
    Despite more flexible LNG volumes, many buyers still seeking long-term commitments Example of Qatar LNG long-term redirection Around 25% of Qatari volumes diverted from liquid markets to Asia mainly 120 Bcf/d on a long-term basis…
  11. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 11
    Growing share of the Middle East in global LNG supply 2015(e) LNG supply-demand LNG supply Mt/y 350 Asia Mt/y 200 300 300 Atlantic Basin 250 100 200 200 Supply Demand 150 Asia Middle East 200 Atlantic Mt/y…
  12. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 12
    Middle East LNG exports constrained by reinjection and domestic gas demand Middle East gas demand Domestic demand driven by power generation and industry 900 Bcf/d Pipeline export 80 800 Potential to develop power 700 LNG…
  13. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 13
    March 2005 : Qatar announces pause in new developments North Field - gas production Primary driver : prudent reservoir management Bcf/d 2009(e) : QGII train B QG3 train 6 2010(e) : QG4 train 7 RG3 train 7 Need to sustain…
  14. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 14
    Totals LNG business Investor Relations Middle East Field Trip - www.total.com 3C2130
  15. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 15
    Diversified and well-positioned portfolio of LNG assets Yemen LNG (39.6%) Qatargas II TrB (16.7%) Angola LNG (13.6%) NLNG T7 (15%) Brass LNG (17%) Shtokman (25%) Ichthys LNG (24%) Capacity : 6.7 Mt/y Capacity : 7.8 Mt/y Capacity :…
  16. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 16
    Most diversified LNG player in the Middle East Qatargas I (10%) Totals Middle East gas production SYRIA kboe/d Qatargas II train B (16.7%) IRAN IRAQ 200 Pipeline gas KUWAIT Pars LNG 150 QATAR Adgas (5%) UAE 100 SAUDI…
  17. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 17
    Increasing value creation through well balanced exposure across the LNG chain Sales** by destination Purchases by destination Mt/y Mt/y Liquid markets 330 cargoes* 20 20 Liquid markets From FEED 240 230 North or under study…
  18. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 18
    Totals position on the global LNG market to triple by 2016 Totals position on LNG market Main competitors LNG positions*** Mt/y Mt/y Shell Exxon BP Chevron BG 40 40 10 Mt/y 30 Mt/y 30 LNG purchases 30 other 20 from equity…
  19. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 19
    Rapidly growing contribution of LNG to Totals profitability Profitability of Totals LNG portfolio 9M08 LNG earnings : approx. 2.5 B Approximately 13% of Totals production B More than 15% of Upstream net operating income +55%…
  20. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 20
    Focus Investor Relations Middle East Field Trip - www.total.com 3C2130
  21. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 21
    Qatargas Qatargas I Production started in 1996 Capacity : 9.9 Mt/y (3 trains) + LPG Total : 10% in the plant, 20% in the upstream Markets : Japan & Europe Qatargas II (under construction) 2 trains of 7.8 Mt/y each 2006 : Total…
  22. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 22
    Yemen LNG Marib gas reserves : 10 Tcf Plant capacity : 6.7 Mt/y - 2 trains Total : 39.6% LNG storage tanks : 2 x 140,000 m3 LNG SPAs signed in 2005 : Asia : Kogas (2.0 Mt/y) Atlantic : Suez (2.5 Mt/y) Total (2.0 Mt/y)…
  23. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 23
    Total regasification portfolio Secured access to markets Five regas terminals in the main consumption areas Sabine South Hook Bcm/y Pass 21 Bcm/y 20 26 Bcm/y Group equity : 8.35% Hazira Reserved cty : 10 Bcm/y Start-up :…
  24. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 24
    Example of European LNG arbitrage LNG - Pipeline gas scenario B supposed to deliver LNG cargo in France A sells pipeline gas to B in South of France B delivers its LNG cargo to A in Spain A LNG cargo coming from Nigeria is freed…
  25. TOTAL'S LNG IN THE MIDDLE EAST – Total SA – slide 25
    Short term US gas market dynamic Substitution of fuel by gas Excess LNG Lower US Increasing Need for additional supply gas prices demand LNG imports New unconventional Decline in local gas not profitable gas production…

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