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BUNKER SUMMIT ALGECIRAS/GIBRALTAR MAY 2009

‘SUPPLY OF BUNKERS IN WEST MED’

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KEY ASPECTS

• Commercial Activity in the Area

• Traffic

• Refineries and Product availability

• Bunker ports

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COMMERCIAL ACTIVITY

AlgecirasContainers: 42,7 mill tonsHydrocarbons: 19,3 mill tonsOthers: 12,7 mill tonsPassenfers: 5.000.000

GibraltarCruise: 276.000 passengersHydrocarbons: 4,3 mill tons

CeutaCruise: 276.000 passengersHydrocarbons: 1,1 mill tonsOthers: 1,7 mill tons

TangerContainers: 1 mill tons

ValenciaCruise: 436.030 passengersContainers: 41 mill tonsOthers: 18 mill tons

BarcelonaCruise: 3.236.976 passengersContainers: 25,2 mill tonsHydrocarbons: 4,8 mill tonsOthers: 21,8 mill tons

Marseille-Fos-LaveraCruise: 2.000.000 passengersHydrocarbons: 53,1 mill tonsOthers: 36,9 mill tons

GenoaHydrocarbons: 20 mill tonsContainers: 17,8 mill tonsOthers: 17,8 mill tons

Fiumicino-CivitavechiaCruise: 1,9 mil passengersTotal tonnage: 12,35 mill tons

SarrochCruise: 451.363 passengersHydrocarbons: 28 mill tonsContainers: 501.194 TEU’s

MaltaContainers: 6,8 mill tonsHydrocarbons: 1 mill tons

ArzewHydrocarbons:58 mill tons

ArgelCruise: 373.000 pasengersHydrocarbons: 7,4 mill tonsOthers: 3,6 mill tons

Augusta-Priolo-Sta PanagiaHydrocarbons: 28 mill tonsOthers: 17 mill tons

NapoliHydrocarbons: 2 mill tonsContainers: 4 mill tonsRo-Ro: 6 mill tonsCruise: 9 mill passengers

Containers: 139.000.000 TmPassengers: 17.000.000[HC]: 119.000.000 TmOthers: 131.000.000 Tm

Information from Port Web Pages

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TRAFFIC!!

Huelva

AlgecirasGibraltar

Ceuta

Information from AisLive

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REFINERIES

AlgecirasCepsa: 250.000 bbl/day

Marseille-Fos-LaveraIneos: 200.000 bbl/dayShell: 80.000 bbl/day

Total: 137.000 bbl/dayEsso: 120.000 bbl/day Roma

ERG/Total/Monteshell:93.000 bbl/day

SarrochSaras: 320.000 bbl/day

Augusta-Priolo-GelaEsso: 210.000 bbl/dayAgip/ERG: 560.000 bbl/day

LivornoAgip: 90.000 bbl/day

TarragonaCepsa/Repsol: 160.000 bbl/day

HuelvaCepsa: 100.000 bbl/day

CastellónBP: 130.000 bbl/day

CartagenaRepsol: 100.000 bbl/day

Information from oil companies web pages

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PRODUCT FLOWS (today)

Gasoline

Gasoil/Diesel

FuelFO and Diesel flow towards the West Med from USA, Eastern Europe and the Middle East to cover production deficitsGasoline goes to the USA

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BUNKER SUPPLY: MAIN PORTS

GibraltarCeuta

Barcelona

Marseille-Fos-Lavera

MaltaArzew

Augusta

Algeciras

Genoa

Sarroch

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THE FUTURE

• The main uncertainty towards the future is related to quality specifications:

in SECAs

Global

2010 2012 2015 2020 2025

4.5 %

1.0 %

0.1 %

1.5 %

3.5 %

0.5 %

Or abatement technologies (i.e. Scrubbers)

A MED SECA ??

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THE FUTURE

• This means that by 2020 we might have in the West Med:

A) 3.5 % FO (Scrubbers, or a postponement to 2025)

B) - 0,5 % FO (or Distillates) (No scrubbers, no postponement) - 0,5 % FO (or Distillates) + 0,1% Distillates (MED SECA)

Which implies two main supply scenarios

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SCENARIO A: 3,5 % FO

El mapamundi de los flujos a/desde Europa dentro de

xx años si se mantiene el Fuel

Gasoil/Diesel

Gasoline

Fuel

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SCENARIO B: DISTILLATES

El mapamundi de los flujos a/desde Europa dentro de

xx años si se mantiene el Fuel

Gasoline

Gasoil/Diesel

Fuel

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THE FUTURE

In any case, bunker activity is expected to remain strong in the area, even considering efficiency improvements, as commercial activity recovers and retakes the growth path, meaning:

• More activity in the West Med Ports

• More traffic through the area

And therefore, more storage will be needed to handle the imports, and, in a B scenario, more distillates should be produced by the West Med refineries

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CEPSAs COMMITMENT

CEPSA, with two refineries located at the Straight of Gibraltar (one in San Roque and another in Huelva) has a longstanding commitment towards the supply of bunkers in the area. Towards the future, CEPSA will:

• Strengthen its leadership as bunker supplier in the West Med and in the Canary Islands

• Maintain its strategic position in the Panama Canal

• And grow in selected ports around the world

Maintaining the quality standards in products and services for which it is known in the market

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CEPSAs COMMITMENT

To be able to Strengthen its leadership as bunker supplier in the West Med CEPSA will:

• Duplicate the capacity of its Huelva refinery (project expected to be completed by the end of 2009)

• New storage facilities in Huelva for bunkers (50.000 m3) (available beginning 2010)

• Increase storage facilities in Algeciras for bunkers (82.000 m3) (available by mid 2010)

These actions will allow to continue supplying the Shipping Industry, improving operations as more loading berths and barges will be available

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TODAY

Mapa con las dos refinerías

(Algeciras y Huelva) y los

tancajes de CLH y Decal y Ceuta

Algeciras

Ceuta

Huelva

Information from AisLive

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TOMORROW

Mapa con las dos refinerías

(Algeciras y Huelva) y los

tancajes de CLH y Decal y Ceuta

Algeciras

Ceuta

Huelva

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