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Developing a global and profitable LNG portfolio – Total SA

Total SA · Sep 24, 2019 · 27 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. Developing a global and profitable LNG portfolio – Total SA – slide 1
    Developing a global and profitable LNG portfolio
  2. Developing a global and profitable LNG portfolio – Total SA – slide 2
    LNG market Philippe Sauquet President Gas, Renewables & Power
  3. Developing a global and profitable LNG portfolio – Total SA – slide 3
    LNG, the engine of gas demand growth World gas balance 2018-2030 incremental gas demand Bcm/y Bcm 5,000 +2% per year World 2,500 Asia 500 1,000 2015 2018 2020 2025 2030 LNG Pipe & Other LNG Pipe & Other LNG…
  4. Developing a global and profitable LNG portfolio – Total SA – slide 4
    Gas prices Markets sensitive to supply-demand fundamentals Gas prices Medium-term LNG supply & demand /Mbtu Mt/y 9%/y 10 Market 5-6%/y 450 tightening To be sanctioned JKM Under TTF construction Demand 5 9%/y…
  5. Developing a global and profitable LNG portfolio – Total SA – slide 5
    New trends impacting LNG markets JKM derivatives traded volumes Mt/y 60 2/3 of global LNG sales still sold through long term oil indexed contracts but trend toward commoditization Long term contracts for Europe indexed to 2016…
  6. Developing a global and profitable LNG portfolio – Total SA – slide 6
    Asia: switch from coal to gas driven by policies Supported by low prices China LNG imports Mt/y China growing LNG customer 2x Ambitious target for share of gas in energy mix of 15% by 2030 60 Air quality policies 40 Unbundling…
  7. Developing a global and profitable LNG portfolio – Total SA – slide 7
    Opportunity for LNG in Europe European gas balance Bcm/y 500 Increasing role of gas with coal and nuclear decommissioning and growth of renewables Pipe imports 250 Domestic production decreasing LNG imports European…
  8. Developing a global and profitable LNG portfolio – Total SA – slide 8
    Medium-term LNG supply-demand outlook LNG supply & demand Mt/y 7%/y Demand 5%/y Many LNG projects under study but priority Possible FID to the most competitives ones 550 Present low gas prices challenge new Probable FID…
  9. Developing a global and profitable LNG portfolio – Total SA – slide 9
    Priority to low breakeven projects Breakeven - Integrated LNG projects /Mbtu DES Asia pre-FID and under construction 15 10 5 Source: WoodMackenzie LNG tool, 2019 Q2, Breakeven 10% IRR Developing a global and…
  10. Developing a global and profitable LNG portfolio – Total SA – slide 10
    Growing LNG production Arnaud Breuillac with competitive projects President Exploration & Production
  11. Developing a global and profitable LNG portfolio – Total SA – slide 11
    Rapidly expanding LNG Total integrated gas production Integrated gas CFFO kboe/d B - 60 /b 1,000 6 2 x 2.5 x 500 3 2018 2020 2025 2018 2020 2025 Share of Group production from 14% in 2018 to 22% by 2025…
  12. Developing a global and profitable LNG portfolio – Total SA – slide 12
    Growing LNG production with competitive projects LNG assets LNG 2025 equity production Europe North America Snohvit Yamal LNG Arctic LNG 2 Russia Qatargas Oman LNG Middle East & Driftwood Qatar Sohar LNG North Africa Cameron…
  13. Developing a global and profitable LNG portfolio – Total SA – slide 13
    Leveraging existing Nigeria LNG for a low cost expansion 200 M/y < 3.5 /MBtu cost delivered CFFO At 60 /b Asia 2024+ Valorizing large, low cost Nigerian conventional gas resources Upstream gas from Ima* offshore field…
  14. Developing a global and profitable LNG portfolio – Total SA – slide 14
    Arctic LNG 2: in the footstep of Yamal LNG success Increasing equity production in Russia to 9 Mt/y by 2025 Russia 350 M/y < 3.5 /MBtu 7 Bboe cost delivered CFFO Resources At 60 /b FID Sept. 2019, first LNG by end-2023 Asia…
  15. Developing a global and profitable LNG portfolio – Total SA – slide 15
    North America: building strong liquefaction position Developing partnership with Sempra Cameron LNG, US, 16.6% Energia Costa Azul, Baja California, 10-15% Train 1 started, trains 2&3 by mid-2020 Competitive brownfield (3 x 4.5…
  16. Developing a global and profitable LNG portfolio – Total SA – slide 16
    Mozambique LNG: unlocking world-class gas resources 1 B/y 3 /MBtu 60 Tcf cost delivered CFFO Resources Giant high quality resources At 60 /b Asia (100%) 2025+ Gas composition well adapted to liquefaction Well productivity 30…
  17. Developing a global and profitable LNG portfolio – Total SA – slide 17
    Moving forward with attractive Papua LNG project 300 M/y 3.5 /MBtu Shipping cost cost delivered CFFO Asia At 60 /b < 0.5 /Mbtu 2025+ Favorable reservoir characteristic Well productivity 30 kboe/d Low cost brownfield LNG…
  18. Developing a global and profitable LNG portfolio – Total SA – slide 18
    Leveraging favorable market to launch projects LNG project cost structure % 100% LNG specific costs - Specific EPC contractors (LNG engineering) - Cryogenic providers (Exchangers, compressors) 75% of LNG project costs…
  19. Developing a global and profitable LNG portfolio – Total SA – slide 19
    Reducing LNG GHG footprint LNG GHG emission Liquefaction improvement Shipping emission by LNG breakdown initiatives carrier type Upstream Regas -15% 60 kgCO2e /boe* Shipping Liquefaction 2007 2025 GHG main contributor…
  20. Developing a global and profitable LNG portfolio – Total SA – slide 20
    Growing a resilient and Laurent Vivier profitable LNG portfolio Senior Vice President Gas
  21. Developing a global and profitable LNG portfolio – Total SA – slide 21
    Integrated and diversified along the value chain Yamal LNG Snhvit LNG Artic LNG 2 Rotterdam Cove Point LNG Skikda LNG Driftwood LNG Bethioua Egyptian LNG T1 ECA LNG Cameron LNG Sohar LNG Freeport LNG Sabine Pass LNG…
  22. Developing a global and profitable LNG portfolio – Total SA – slide 22
    LNG Portfolio: sustainable growth 60% of LNG sales from Group production by 2025 LNG sales Supply by sources Mt/y % 100% Supply from 3rd party 50 Sales portfolio 50% Supply from equity JVs Equity JV sales to 3rd…
  23. Developing a global and profitable LNG portfolio – Total SA – slide 23
    A balanced portfolio open to optimization Sales destinations Portfolio flexibility % 100% Fixed Europe Flexible or reloadable 50% Flexible volume DES Fixed Asia 2019 2020 2025 2020 65% of portfolio has flexible…
  24. Developing a global and profitable LNG portfolio – Total SA – slide 24
    Resilient sales portfolio benefiting from oil price upside 2020 index exposure Long term contract price reviews % % 100% Price review Open to after 2022 optimization HH 50% EU gas Production Oil costs No price…
  25. Developing a global and profitable LNG portfolio – Total SA – slide 25
    Engie LNG: creating value combining two LNG portfolios Shipping Europe regas utilization Days % Jan-Aug avg. = 66 % 100% 75% 50% NW Europe Jan-Aug avg. = 56% 25% Range 2017-2018 Total Engie Optimization Aggregated…
  26. Developing a global and profitable LNG portfolio – Total SA – slide 26
    New outlets Accessing new markets through FSRUs and local partnerships New 2019 sales Republic of Benin Development of a LNG import FSRU Supply of up to 0.5 Mt/y 15 years, starting 2021 Guanghui Energy / China: SPA 0.7 Mt/y DES…
  27. Developing a global and profitable LNG portfolio – Total SA – slide 27
    World 2 LNG player worldwide Integrated LNG 2025 LNG portfolio Integrated gas CFFO Mt/y for Total and Peers* B - 60 /b 100 6 2.5 x 50 2018 2020 2025 * BP, Chevron, ExxonMobil, and Shell Developing a global and…

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