Download - Vancouver board of trade oil & gas markets
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Canada’s Natural Gas & Oil Resources on a Global Stage
1 #233082
Vancouver Board of Trade
November 5, 2013
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Enabling Responsible Development
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Source: Cenovus
Canadian Crude Oil
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Global Crude Oil Reserves by Country
26 25 21303748
8092102
141155
173
265298
0
50
100
150
200
250
300
Vene
zuela
Saud
i Ara
bia
Cana
da Iran
Iraq
Kuwa
it
Abu
Dhab
i
Russ
ia
Libya
Nige
ria
Kazh
akhs
tan
China
Qatar
Unite
d St
ates
billio
n barr
els
Source: Oil & Gas Journal Dec. 2012
Includes 169 billion barrels
of oil sands re
serves
Restricted(81%)
Open to Private Sector
Oil Sands
56%
Other 44%
World Oil ReservesOpen to
Private Sector
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Canadian Crude Oil Production Forecast
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2012 Canada and U.S. Demand for Crude Oil by SourceThousand Barrels per Day
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0
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8
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14
China India EuropeanUnion
UnitedStates
Japan Korea
mm
b/d
Net oil imports in the New Policies Scenario
2005201120202035
Changing Global Oil Import Needs
Source: IEA World Energy Outlook 2012, EIA
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Access to Markets – Pipeline Expansions in Development
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WCSB Takeaway vs Supply Forecast
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10
CanadianNatural Gas
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North American Unconventional Gas Resources
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Current Disposition of W. Canada’s Natural Gas Production (2012)
TransCanada TransmissionMainline
TQ&M
Westcoast
KernRiver
Northwest NorthernBorder
TransCanada Alberta (NGTL)
NGPL
ANR
ANREl Paso
PG&E
SoCal
PGT
TexasEastern
Panhandle
Algonquin
Transcontinental
ANG/Foothills
NGPL
Northwest Foothills
El Paso
Transwestern
Trailblazer
M&NE
CNGIroquoisPNGTS
Alliance
LakesGreat
VectorWest
2.5 bcf/d
Mid West4.8 bcf/d
East1.1 bcf/d
Domestic 5.3 bcf/d
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● LNG for export● Oil Sands growth● Gas-fired power and cogeneration● Vehicles – CNG/LNG
Natural Gas – Market Opportunities
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Industrial21.5%
Residential13.3%
Commercial12.1%Electricity
Generation13.4%
Vehicles0.2%
LNG19.2%
Oil Sands20.3%
NATURAL GAS DEMAND BY SECTOR - 2035
Source: The Conference Board of Canada December 2012
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0
5
10
15
20
25
30
35
40
45
50
2010 2015 2020 2025 2030 2035 2040
ChinaTaiwanIndiaSouth KoreaJapan
Imports to Asian Economies with Growing Natural Gas Requirements (Bcf/d)
14Source: EIA 2013 International Energy Outlook, Press reports, CAPP
Growth of 27 Bcfd or 167%
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● Kitimat LNG (Chevron, Apache) 1.4 Bcf/d Permits received; awaiting investment decision
● BC LNG Export Co-operative 0.125 Bcf/d Permits received
● LNG Canada (Shell, KOGAS, Mitsubishi, PetroChina) 2.0 – 3.2 Bcf/d Feasibility stage; applied for some permits
● Pacific Northwest LNG (Progress/Petronas, Japex) 2.0 Bcf/d (Merger approval granted) Completed feasibility, progressing to pre-FEED
● Nexen/Inpex Conducting feasibility
● Prince Rupert LNG (BG Group) 3.0 Bcf/d Advancing feasibility, applying for permits
● AltaGas/Idemitsu Kosan 0.27 Bcf/d Conducting feasibility
● ExxonMobil/Imperial Oil (WCC LNG Ltd) 4.0 Bcf/d Applied for export licence
● Woodfibre LNG 0.3 Bcfd Applied for export licence
Canadian LNG export projects in development
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Total potential new demand ~ 13.0 Bcf/dExpressions of interest to proceed with a project have also been made by; Woodside Petroleum & South Korea E&S
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● Ports of Kitimat and Prince Rupert are closer to Asia than any other North American port 8 sailing days to Japan 9 sailing days to Korea 11 sailing days to China
Canada’s Export Opportunity
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Source: Apache Corporation
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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
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B. C. Production –– Market Constrained Case and New Market Opportunity Case
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Market Constrained Case
New Market Opportunity Case
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Safe, Environmentally Responsible● Production
GHG emissions reductions Water – oil & natural gas Land & wildlife
● Transportation Pipelines & Rail
• Integrity & operations Marine
• Prevention, response and recovery – tankers/ports
● Regulation and Monitoring Enhanced monitoring –
more sites, more transparency & reporting
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Jobs andEconomic Benefits
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What’s in it for us?
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● $5.2 billion invested in 2012● $6.7 billion invested in 2011● $82 billion invested up to 2012● $13.5 billion spent on acquisitions in B.C. gas plays by
foreign companies from 2010 to date
Investment in B.C.’s natural gas sector
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0
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2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Billi
on d
olla
rs
Capital Investment in British Columbia
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BC Benefits
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Watson Gloves Ideal Welders Wright’s FoodService
Northern LightsCollege
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Direct Suppliers in British ColumbiaCurrent survey shows just under 400 companies
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Being Part of the Discussion
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@oilgascanada
www.facebook.com/OilGasCanada