OLT - Innovhub

FSRU TOSCANA
GNL: OPPORTUNITÀ E NUOVI UTILIZZI
Milano, 17th November 2014
Alberto Ton – Commercial Manager
[email protected]
Offshore LNG Toscana SpA (OLT)
Shareholders
E.ON Global Commodities (46.79%)
Company belonging to the E.ON Group, one of the world’s largest private
energy group, listed on the Frankfurt stock exchange
IREN Group (46.79%)
Iren Mercato 41,71% and ASA Livorno 5,08%
IREN listed on the Italian Stock Exchange and founded in July 2010 from the
union between IRIDE and ENI
Golar LNG (2.69%)
Shipowner specialized in the management of LPG carrier and LNG tanker
fleets, belonging to the Fredriksen Group (owner of the largest oil tanker fleet
in the world)
OLT
Energy
OLT Energy Toscana (3.73%)
The company that originally developed the project
The Project in few words…
EPCIC Contract awarded March 2008, Golar Frost purchased June 2008,
conversion started in June 2009 in Dubai
Conversion of the LNG carrier 'Golar Frost' into a Floating Storage
Regasification Terminal ‘FSRU Toscana’ moored 12 nautical miles from the
Italian coast between Livorno and Pisa, in sea depth of 120 meters
Storage capacity 137,500 m3 geometric volume in 4 spherical Moss-type
tanks more suitable for partially-filled terminal in offshore environment
(anti-sloshing)
Terminal is completely self-sufficient and has the same operational
features as typical onshore regasification terminals
Operations based on ship-to-ship transfer of LNG in open sea
Ship-to-Ship manoeuvres approved for wave Hs up to 1.5 m while LNG
transfer designed for wave Hs up to 2.5 m
FSRU and mooring system is designed to withstand 100 year storm
conditions
and in few pictures…
4
The project finalization
The Terminal arrived offshore Livorno on 30th of July 2013 ready to be moored and
commissioned. After connection of the Terminal with the mooring system and with the national
gas grid through a pipeline of 36.5 km, built and operated by Snam Rete Gas S.p.A., the
Terminal has started the commissioning phase. 4 LNG cargoes were received by the Terminal
and a total of about 200 million Smc was injected into the gas grid.
Towing to the site
Risers’ connection
Location of the terminal
Terminal moored and connected to pipeline
The Terminal successfully passed all the scheduled tests and after having received all the
authorizations and certifications it begun the commercial operations on 20th of December 2013.
StS mooring
Key commercial data
Regasification unit on board for send-out with nominal capacity of 3.75 bcm/a
Wobbe Index Corrector installed to produce
Terminal is allowed to receive LNG carriers size in the range between 65,000 cm and 155,000
(about 72% of the current worldwide LNGc fleet)
Nitrogen can allow to receive most of the
LNGs types (about 82% LNG produced)
High flexibility in send out flow rate (maximum capacity of 15 MSm3/d with a very low
minimum send out) allows high trading value to the users
SEND OUT VOLUMES
max
base
min
SHIP
ARRIVAL
SHIP
ARRIVAL
SHIP
ARRIVAL
SHIP
ARRIVAL
The send out flexibilities which are necessary to recover cargo delays or adverse weather
conditions can be made available to users to nominate quantities out of the Terminal based
on their needs (trading value)
Current LNG Market Conditions...
Declining European Imports
Total consumption of Natural Gas into Europe fell due to continuing economic crisis and the
special situation in the power sector
Also the European LNG import fell due to the drop in gas demand and the strong
competition for LNG in the global market, especially from Japan and South America
Impacts on Regas. Terminal
All European countries are affected: since 2011
European average (based on net import volumes) has
been reduced by more than half from 40% to about 20%
LNG is shipped/diverted to where the prices are the
highest, currently Asia and Shout America (market
changes?)
Source: gle GAS LNG EUROPE
Future unknown: nuclear policy in Japan, Asian
demand (LNG, Shale Gas, pipe?), new exports project
from North America, East Africa, Australia, Renewable
growth...
… all European LNG Terminals are proposing/developing new services to meet
market needs, new requirements such as reloading, transhipment (large scale LNG)…
New services from Regasification Terminals
Development of “new” Small Scale LNG services
Loading
of bunkering ships: LNG is loaded on bunkering ships
which transport LNG in smaller quantities or used for propulsion in
substitution of diesel/MGO
Truck loading: LNG is loaded on tank trucks or used as fuel
Rail loading: LNG is loaded on rail trucks
Loading of Small LNG carrier at Zeebrugge LNG terminal
Why?
Switching to LNG will result in significantly lower emissions,
immediately contributing to Europe’s efforts to hit its climate targets
imposing stricter requirements and increasing taxation
Ships powered by LNG instead of the usual heavy fuel oil
reducing emissions
Truck loading at Zeebrugge LMG terminal
On 16th July 2014 Italian government issued Decree 112/2014
establishing new emission limits starting from 1st January 2018 on
Adriatic and Ionian seas
Source: gle GAS LNG EUROPE
Small Scale LNG Services in Med. Sea?
Main barriers to be overcome
Infrastructure is not developed enough to supply
ships, trucks and trains with appropriate quantity and at
the right geographical locations in order to have secure
and efficient supply
Lack of flag state regulation for bunkering operations
Who is going to invest first?
Source DNV's map of current and possible ECAs in the future
First “pilot projects” in Italy
On 16 May 2014 the first truck to ship transfer took place in
Civitavecchia port where 36 cm of LNG have been transferred to M/T
Bokn tug.
On 29 April 2014 the first refueling station operated by Eni S.p.A.
has been opened in Piacenza.
Different industrial utilization plant have been designed and built
by Liquidgas to use LNG as fuel in the production process.
FSRU Toscana: strategic location for SSLNG
FSRU Toscana could use the existing port side
facilities to unload the small quantities of LNG
required for LNG bunkering
Savona
Full availability of all required support services
from Port of Livorno
Close proximity to main Med ports like Genoa,
Civitavecchia and La Spezia where bunkering
infrastructure can be developed
Olbia
Civitavecchia
Sardinia could become a potential market for
the SSLNG services development
All the SSLNG services can be developed BUT it is necessary to define the National regulatory
framework so to allow all the interested parties to invest both on the market and infrastructure side
Truck to Ship configuration
Shore to Ship configuration
Source DNV‘s LNG Bunkering Study
Ship to Ship configuration
Security of supply – Peak Shaving Service
Role of Regas Terminal in Security of Supply scenario:
Russian/Ukrainian gas crisis: Regas Terminal not
used could help to cope with possible Russian gas
interruption and will increase the European market supply
diversification
Peak Shaving in the Italian gas system: a specific
service was established in Italy in order to store LNG into
terminal tanks and make it available during the winter in
case of need
OLT Peak Shaving Service 2014/2015:
LNG volume range: between 60,000 to 100,000 cm
LNG cargo to be delivered at FSRU Toscana within 31st December 2014
LNG volume available in the tanks’ Terminal for emergency event from the 1st January
till 31st of March 2015
Thank you for your attention
www.oltoffshore.it