Canada?s Oil & Natural Gas Market Access The Key to Future Growth Calgary Real Estate Forum October 29, 2013
Enabling Responsible Development
Canadian Oil Sands
Global Crude Oil Reserves by Country 26 25 21 48 37 30 92 80 102 141 155 173 265 298 0 50 100 150 200 250 300 Venezuela Saudi Arabia Canada Iran Iraq Kuwait Abu Dhabi Russia Libya Nigeria Kazhakhstan China…
Access to Markets ? Pipeline Expansions in Development
2012 Canada and U.S. Demand for Crude Oil by Source Thousand Barrels per Day 7
8 6 4 2 0 10 12 14 China India European Union United States Japan Korea mmb/d Net oil imports in the New Policies Scenario 2005 2011 2020 2035 Changing Global Oil Import Needs Source: IEA World Energy Outlook 2012, EIA 8
WCSB Takeaway vs Supply Forecast 9
Crude Oil Rail Exports Western Canada vs. North Dakota ? Opportunities: ? Relatively quick ? Flexibility ? Less diluent ? Use in both directions ? Challenges: ? Recent safety ? Higher costs ? Limited loading and tank car…
0 100 200 300 400 500 600 North Sea - Forties Brazil - Tupi Saudi Arabia - Arab Light US Barrel Refined in the U.S. (2005) Iraq - Kirkuk Blend Cdn Oil Sands: Mining Dilbit (PFT) Mexico - Maya Venezuela Bachaquero US - Mars Cdn…
13 Canadian Natural Gas
Current Disposition of W. Canada?s Natural Gas Production (2012) TransCanada Transmission Mainline TQ&M Westcoast Kern River Northwest Northern Border TransCanada Alberta (NGTL) NGPL ANR ANR El Paso PG&E SoCal PGT…
? LNG for export ? Oil Sands growth ? Gas-fired power and cogeneration ? Vehicles ? CNG/LNG Natural Gas ? Market Opportunities Industrial 21.5% Residential 13.3% Commercial Electricity 12.1% Generation 13.4% Vehicles 0.2%…
5 0 10 15 20 25 30 35 40 45 50 2010 2015 2020 2025 2030 2035 2040 China Taiwan India South Korea Japan Imports to Asian Economies with Growing Natural Gas Requirements (Bcf/d) 17 Source: EIA 2013 International Energy…
Asian Markets Represent an Attractive Export Option $/MMbtu 2012 Japanese LNG Price
Canadian Production ? Market Constrained Case and New Market Opportunity Case Eastern Canada CBM Western Canada Unconventional Western Canada Conventional Market Constrained Case New Market Opportunity Case 20
? Market Access for Oil ? Decision or delay on Keystone XL ? Final Environmental Impact Statement ? State Dept. ? Decision on Enbridge Northern Gateway pipeline ? NEB/JRP decision by end of 2013 ? Decision on reversal of Enbridge…
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