Provaris Energy Ltd · ASX:PV1
Provaris Energy — Shareholder Meeting (November 2018)
28 slides from Provaris Energy's shareholder meeting presentation, Nov 23, 2018
Slide 1: 2018 Annual General Meeting Presentation
2018 ANNUAL GENERAL MEETING PRESENTATION
Slide 2: Disclaimer
DISCLAIMER AUSTRALIA AND ALL JURISTICTIONS The information in this presentation is not an offer or recommendation to purchase or subscribe for securities in Global Energy Ventures Ltd (GEV) (ASX:GEV) or to retain or sell any securities currently being held . This presentation does not take into acco
Slide 3: Corporate Overview
CORPORATE OVERVIEW CAPITAL STRUCTURE ASX: GEV SHARE PRICE HISTORY ASX: GEV Ordinary Shares on Issue 326.4m Market Capitalisation at $0.195/share $63.6m (undiluted) Cash Balance as at 30 Sep 2018 $3.52m Performance Shares – SeaNG Transaction 3 15.85m (4%) Options on Issue 1 43.4m (11%) Performance Ri
Slide 4: Global Gas Market Outlook
GLOBAL GAS MARKET OUTLOOK GEV POSITIONED TO CAPITALISE ON GROWTH GAS TO OVERTAKE COAL AS WORLD'S SECOND LARGEST ENERGY SOURCE BY 2030 World Energy Outlook Report, November 2018, International Energy Agency +25 to 50% +45% 25% 60% Growth in Energy Global Gas Global Energy Of Global Gas Imports Demand
Slide 5: Supporting Gas as the Transition Fuel to Renewables
SUPPORTING GAS AS THE TRANSITION FUEL TO RENEWABLES ENVIRONMENTAL BENEFITS OF CNG Natural gas is considered a vital component to a sustainable energy future, being the transition fuel that will give way to renewables. Natural gas power generation is acting to support and complement the current short
Slide 6: Evolution of the CNG Ship
EVOLUTION OF THE CNG SHIP EARLY DESIGNS: 1960 – 90’s Columbia Gas Bottle –Ship 1965 1995 Steel and design factors of the 60’s Increased gas volume to steel ratio Too many connections High-strength steel Very limited economic range Too many connections Limited economic range Early CNG ship designs we
Slide 7: Evolution of the CNG Ship: Coselle Design
EVOLUTION OF THE CNG SHIP COSELLE DESIGN: 1998 Reduced connections using large coils of small diameter pipe Modest economic range The Coselle design achieved American Bureau of Shipping “Full Design” Approval. The design: Showed the merits of long coiled lengths of pipe to minimize the number of con
Slide 8: The Evolution of CNG Ship Design
THE EVOLUTION OF CNG SHIP DESIGN CNG OPTIMUM: 2018 HANDYMAX CNG SHIP 184.7m Length 16.8m Depth 31.3m Breadth 9.2m Full Load Draft 45,600 t Displacement 14 knots Average Speed STANDARD HANDYMAX VESSEL OPTMUM GAS STORAGE SYSTEM 200 MMscf Loaded Gas Volume 3,600 psi Operating Pressure X80 Steel Pipe Gr
Slide 9: A Step Change in Marine CNG Economics
A STEP CHANGE IN MARINE CNG ECONOMICS BOTTLE SHIP JAYANTI BARUNA LAUNCHED 2016, FOR USE IN INDONESIA 25 MMscf 110m COSELLE DESIGN: 1998 – 2016 SUPERCEDED BY CNG OPTIMUM 200 MMscf 221m CNG OPTIMUM DESIGN: 2018 8 X CAPACITY OF INDONESIAN BOTTLE SHIP PAGE | 9 200 MMscf 184m
Slide 10: Advantages of CNG Optimum
ADVANTAGES OF CNG OPTIMUM Ideal for regional distances (< 2,500km) Flexibility to deliver gas from volumes of 50 to 400 MMscf/d KEY Compression requires significantly less capex than liquefaction PARAMETERS Requires small to medium gas reserves (< 1.0 TCF) Rapid CNG project development, less than 3
Slide 11: ABS Full Class Approvals
ABS FULL CLASS APPROVALS NEARING COMPLETION American Bureau of Shipping (ABS) safety and designing testing near completion with only two minor sub-tests remaining The Long-term Fatigue Test has now been successfully completed. This means that the CNG Optimum cargo system approval will be for 35 year
Slide 12: CNG Optimum Shipyard Progress
CNG OPTIMUM SHIPYARD PROGRESS Shipyard proposals are currently being received for GEV evaluation Clarksons (GEV’s appointed ship broker) to review structured financing options appropriate for each shipyard GEV to select and appoint Project Shipping Manager à GEV TO AWARD CNG OPTIMUM SHIPPING CONTRAC
Slide 13: GEV Business Model
GEV BUSINESS MODEL A PIPELINE TO PIPELINE SOLUTION CNG Export Terminal CNG Import Terminal Gas Metering, Compression Facilities & CNG Unloading Jetty, Scavenging Facilities Pipeline to CNG Loading Jetty & Pipeline to Customer Gas Gas Supply Sales PAGE | 13
Slide 14: Developing a Global CNG Portfolio
DEVELOPING A GLOBAL CNG PORTFOLIO PAGE | 14 DESIGN ONE | BUILD MANY | OPERATE GLOBALLY
Slide 15: Heads of Agreement with Twinza Oil to Export CNG
HEADS OF AGREEMENT WITH TWINZA OIL TO EXPORT CNG HOA EXECUTED WITH TWINZA OIL TO EVALUATE THE CNG TRANSPORT OF PNG OFFSHORE GAS TO THE EAST COAST OF AUSTRALIA, SUPPLY OF 100MMSCF/DAY OF CNG (EQUIVALENT TO 0.7MTPA OF LNG) HOA signed with Twinza Oil Limited to undertake a joint study on the commercial
Slide 16: Pasca CNG Project
PASCA CNG PROJECT GAS SOURCE: Pasca A field, Gulf of Papua, PNG GAS VOLUMES: 100 MMscf/day (~0.7 Mtpa LNG equivalent) TERM: 10 years PASCA A PASCA A CONTRACT PRICE: Dependent on delivery location OPTIMUM 200 SHIPS: Up to 4 1000 nm SHIPPING DISTANCE: Up to 2,000 km FRONT END ENG. & DESIGN: Q4 2018 –
Slide 17: Pasca CNG Project: Key Milestones in 2019
PASCA CNG PROJECT KEY MILESTONES IN 2019 à SECURE GAS SUPPLY AGREEMENT WITH TWINZA à SECURE GAS SALES AGREEMENT à FINAL INVESTMENT DECISION PAGE | 17
Slide 18: India's Imported Gas Volumes Set to Rise 300% by 2040
INDIA’S IMPORTED GAS VOLUMES SET TO RISE 300% BY 2040 INDIA OVERTAKES CHINA AS THE LARGEST GROWTH MARKET FOR ENERGY BY THE LATE 2020’s BP Energy Outlook for India, 2018 The Indian government’s goal is to Multiple investment grade energy increase the energy mix from 6.5% natural gas to 15% supported
Slide 19: HOA with Indian Oil Corp for Purchase of CNG
HOA WITH INDIAN OIL CORP FOR PURCHASE OF CNG HEADS OF AGREEMENT WITH INDIA OIL CORPORATION LIMITED FOR THE SUPPLY UP TO 220 MMSCF/D OF IMPORTED CNG FOR 20YRS (EQUIVALENT TO 1.5MTPA OF LNG) Under the Heads of Agreement, parties will commence negotiations for a binding Gas Sale Agreement for 20yrs, st
Slide 20: HOA with Indian Oil Corp for Purchase of Gas
HOA WITH INDIAN OIL CORP FOR PURCHASE OF GAS GAS SOURCE: Middle East gas GAS VOLUMES: 220MMscf/day (~1.5Mtpa LNG equivalent) TERM: 20 years MIDDLE EAST CONTRACT PRICE: Linked to Brent Crude PORT OF DEHAJ OPTIMUM 200 SHIPS: Up to 6 SHIPPING DISTANCE: Up to 2,500KM TARGET FID: 2019 FIRST GAS: 2022 Por
Slide 21: Middle East to India CNG Project
MIDDLE EAST TO INDIA CNG PROJECT KEY MILESTONES IN 2019 à SECURE GAS SUPPLY AGREEMENT FROM MIDDLE EAST à CONVERT HOA WITH INDIAN OIL INTO GAS SALES AGREEMENT à FINAL INVESTMENT DECISION PAGE | 21
Slide 22: Port Meridian Access into the UK Market
PORT MERIDIAN ACCESS INTO THE UK MARKET GEV holds 5% equity interest in Meridian Holdings Co. GEV holds port capacity & gas sale rights up to 300 MMscf/d (2.3Mtpa LNG equivalent) to supply Uniper Global Commodities SE Discussions underway with two identified proven gas reserves located that are suit
Slide 23: Port Meridian CNG Project
PORT MERIDIAN CNG PROJECT KEY MILESTONES IN 2019 à EXTEND UNIPER GAS SALES AGREEMENT TO DECEMBER 2019 à SECURE HOA FOR GAS SUPPLY à DEVELOP LONG TERM FUNDING PLAN FOR PORT MERIDIAN PAGE | 23
Slide 24: Pursuing Malaysian Stranded Gas
PURSUING MALAYSIAN STRANDED GAS Letter of Intent signed with Tamarind Resources Pte Ltd, an oil and gas operator headquartered in Kuala Lumpur, Malaysia. Objectives are to jointly identify, evaluate and pursue an interest/operatorship in gas fields in the Malaysian region, using GEV’s proprietary CN
Slide 25: Malaysia CNG Project
MALAYSIA CNG PROJECT KEY MILESTONES IN 2019 à SECURE GAS SUPPLY FOR CNG COMMERCIALISATION à IDENTIFY TARGET GAS SALE MARKETS PAGE | 25
Slide 26: Board & Senior Management
BOARD & SENIOR MANAGEMENT Maurice Brand Garry Triglavcanin Paul Garner Jens Jensen John Fitzpatrick David Stenning Chairman and CEO Executive Director Non-Executive Director Non-Executive Director Chief Technical Officer Chief Operating Officer GEV Canada GEV Canada Over 30 years’ experience Bachelo
Slide 27: In Summary
IN SUMMARY ü WELL POSITIONED TO BENEFIT FROM SIGNIFICANT MARKET GROWTH ü THE LEADING GLOBAL MARINE CNG TRANSPORT PROVIDER ü OUR BUSINESS MODEL HAS NO KNOWN GLOBAL CNG COMPETITORS ü READY TO ROLL OUT THE COMMERCIALISATION OF CNG OPTIMUM ü OUR TEAM IS EXPERIENCED IN IMPLEMENTING INNOVATIVE ENERGY SOLU
Slide 28: Contact details
Jack Toby Maurice Brand Company Secretary Chairman & CEO 📥 mbrand@gev.com 📞 +61 8 9322 6955 📱 +61 417 962 369 Garry Triglavcanin 📥 jtoby@gev.com Executive Director 📥 gt@gev.com
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