Market Access for Canadian Oil & Gas Where, When, How? April 30, 2015
Responsible Resource Development
Global Primary Energy Demand Source: International Energy Agency ? New Policies Scenario World Energy Outlook 2011 Source: International Energy Agency World Energy Outlook 2014 0 2 000 4 000 6 000 8 000 10 000 12 000 14 000…
- 20.00 40.00 60.00 80.00 100.00 120.00 140.00 2010 A J O 2011 A J O 2012 A J O 2013 A J O 2014 A J O 2015 US$/bbl Brent Spot WTI NYMEX Cdn Lt Swt WCS WTI Premium to WCS Crude Oil Prices
0 20 40 60 80 100 120 140 160 Upstream Oil & Gas Auto Manufacturing Forestry & Logging Wheat & Barley Uranium Annual Revenues ($ Billions) Major Canadian Products Selling Industries Impact of declining commodity prices…
Global Crude Oil Reserves by Country 30 25 25 48 38 37 80 102 98 144 158 173 266 298 0 50 100 150 200 250 300 Venezuela Saudi Arabia Canada Iran Iraq Kuwait UAE Russia Libya United States Nigeria Kazakhstan…
Canada?s Oil Sands Resource 9 What are oil sands? What are oil sands?
Two Methods of Oil Sands Recovery Photo: ConocoPhillips - Surmont Schematic: Devon - Jackfish Drilling: 80% of reserves Mining: 20% of reserves
Canadian Oil Production Outlook (June 2014)
Canadian Crude Oil Production ? 2015 Forecast Update Short term (next 2 years) ? Oil sands production is increasing at a slower pace ? Increases to 2.3 million barrels per day ? Due to prior-year investments coming on stream ?…
13 97.5% of total crude processed and imported in the Gulf Coast is processed inside the U.S. U.S. Still Imports Canada?s Oil U.S DOE/EIA 2015
2013 Canada and US Refinery Demand Source: CAPP, CA Energy Commission, EIA, Statistics Canada
? Safety ? Trains on tracks ? Inspections, speed ? Tank Car standards ? New cars and retrofits ? Crude Oil classification ? Heavy, light, products ? Emergency Response ? Preparation, transparency ? Need/Capacity ? Offers…
Rail Cycle Times and Estimated Cost to Market* ?*All rates are estimates only. Actual rates could vary depending on the density of the crude which limits the volume per carload; weather and logistical factors could increase cycle times.…
? Market Access ? Importance of link to global markets ? to maximize the value of Canadian resources ? ?All of the above? ? all modes, all directions ? Environmental Performance ? GHG, water, land and wildlife ? Canada?s Oil Sands…
Western Canada Unconventional Gas Plays: Estimated Marketable Gas Play Reserves (Tcf) Source 1. Liard 421 BCOGC 2. Horn River 78 NEB/BC MEM 3. Cordova Embayment 402 BCOGC 4. Montney 449 NEB/BCOGC/ AER 5. Duvernay 893 AER…
Disposition of W. Canada?s Natural Gas Production (2014) TransCanada Transmission Mainline TQ&M Westcoast Kern River Northwest Northern Border TransCanada Alberta (NGTL) NGPL ANR ANR El Paso PG&E SoCal PGT Texas…
New Market Opportunities for Western Canadian Gas 23 ?Liard ?Horn River ?Cordova Embayment ?Montney ?Duverney ?Area of Oil Sands Deposit ?NGTL ?Westcoa st ?PNG (Capacity approx: 110 MMcfd) ?Pacific Trail: Proposed (Kitimat…
Kitimat Prince Rupert Kitimat LNG (Chevron, Woodside) 1.4 Bcfd ? Permits received (including Export License); awaiting investment decision Douglas Channel LNG Consortium 0.125 Bcfd LNG Canada (Shell, KOGAS, Mitsubishi, PetroChina)…
LNG Competitiveness ? Large natural gas resource ? Competition with the US ? Greenfield (Canada) vs. Brownfield (US) ? Lower oil prices reducing margin ? Contract pricing ? oil linked vs. gas linked ? Pipelines and access to…
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