Slide 1: The case for a Tassie Shoal infrastructure hub
Disclaimer This presentation includes certain forward-looking statements that have been based on current expectations p about future acts, events and circumstances. These forward-looking statements are, however, subject to risks, uncertainties and assumptions that could cause those acts, events and
Slide 2: Outline context - "Use it or lose it"
Outline context - “Use it or lose it” Challenging g gp prevailing gpparadigms g ‐ Tassie Shoal ‐ a natural gas processing development hub site ‐ A regional perspective ‐ Economics 101 (“gas ain’t gas”) ‐ Quantifying pipeline cost savings ‐ Alchemy – converting CO2 into a revenue stream ‐ Timor Sea G
Slide 3: Tassie Shoal – a natural development hub
Tassie Shoal – a natural development hub Central to all undeveloped Timor Sea gas fields Methanol et a o Loading oad g Buoy uoy Abadi Gas Supply Indonesia Pipelines N Australia PLEM Greater Barossa Sunrise Evans Shoal Cooling Blackwood Water East Methanol Plant (5,000 tpd stage 1) Outlet Caldita Bla
Slide 4: Remote NW Australian gas discoveries
Remote NW Australian gas discoveries Gas quality and distance from intrastructure impact economics Greater Abadi Sunrise Barossa/ Caldita Evans Joint Shoal Petroleum Blackwood Development Area Legend Heron Tassie Gas Shoal Liquids CO2 Bayu Undan Pie size reflects resource size Darwin Darwin Petrel C
Slide 5: Economic ranking
Economic ranking Value is driven by y natural g gas liquids q yyields & oil p price Distance Liquids %CO2 in Darwin Liquids Value Field Tcf gas gas MtCO2 (km) (mmbbls) (A$bn) Ichthys 12.8 9 60.7 875 527 $ 40.3 Bayu‐Undan 3.4 4 7.2 500 400 $ 30.6 Greater Sunrise 5.4 4 11.4 450 242 $ 18.5 Abadi 10 7 3
Slide 6: Economic ranking
Economic ranking Natural g gas liquids q help p overcome CO2 and distance Distance Liquids Carbon Pipeline Surplus %CO2 in Darwin Liquids Value cost cost value Field Tcf gas gas MtCO2 (km) (mmbbls) (A$bn) (A$bn) (A$bn) (A$bn) Ichthys 12.8 9 60.7 875 527 $ 40.3 ‐$1.8 ‐$2.1 $36.4 Bayu‐Undan 3.4 4 7.2
Slide 7: Proximity to Tassie Shoal saves pipeline costs
Proximity to Tassie Shoal saves pipeline costs But what about CO2? Distance to Surplus Liquids Tassie Shoal Tassie Shoal Field Darwin (km) value (A$bn) saving (km) saving (A$m) Ichthys y 875 $36.4 $ Similar distance Bayu‐Undan 500 $29.2 Already developed Greater Sunrise 450 $17.1 300 $706 Abadi 410
Slide 8: Alchemy
Alchemy Converting g A$30/t $ carbon cost into a >US$200/t $ revenue stream Recycle + ⇒ + + ⇒ + 3× 1× Carbon C b CO2 + Hydrogen ⇒ + Water Methane + Steam ⇒ Syngas Monoxide Step 1 - Gas Reforming Carbon Monoxide + Hydrogen ⇒ Methanol 4× Legend ege d + ⇒ = Hydrogen Step 2 - Methanol Synthesis = Carbon
Slide 9: Environmental approvals in place
Environmental approvals in place CO2 sequestered q into an export p p product selling g for >US$200/t $ Accommodation and Methanol Loading Buoy Gas Supply Control Platform (ACP) Pipelines N PLEM C li Cooling LNG Plant Methanol Plant (3.0 Mtpa) (1.75 Mtpa stage 1) Methanol Plant Water (1.75 Mtpa stag
Slide 10: Technology developed with leading partners
Technology developed with leading partners Proven, ‘off-the-shelf’ solutions Technology: Davy ProTech Topsides Plant: Financial Advisor: Aker Solutions SMBC Product offtake: Mitsubishi, Vitol Substructure: Arup Project Execution: Oceanography: WorleyParsons, Metocean Engineers Fluor, Leighton Enviro
Slide 11: LNG Liquefaction – CO2 released from LNG
CO2 released from LNG Carbon dioxide balance tpd CO2 Source tpd CO2 Source 170 (carried) 2 200 2,200 (carried) 1,830 (combustion) 0 (combustion) 2,000 (total) 2,200 (total) Gas Supply Burn 13 PJ/a 9% CO2 Fuel for LNG Plant Fuel Fuel Gas CO2 from Feed Stream emoval and LNG Liiquefaction 2,200 tpd CO2
Slide 12: CO2 sequestration into methanol
CO2 sequestration into methanol Achieves lower CO2 intensity than geosequestration tpd CO2 Source tpd CO2 Source 249 ( (carried) i d) 270 ( (carried) i d) 2,703 (combustion) 816 (combustion) 2,952 (total) 1,086 (total) Gas Supply 18 PJ/a Burn 9% CO2 Fuel Fuel Gas F l for Fuel f Methanol M th l Plant
Slide 13: LNG project elements
LNG project elements Proven ‘off-the-shelf’ Proven, off the shelf solutions • 3 Mt/y LNG production module − Standard pre-treat section: CO2, H2O & Hg removal − Air Ai Products P d t (APCI) DMR chilling hilli and d liquefaction li f ti − Fractionation plant for refrigerant makeup − Utilities: power
Slide 14: Compact heat exchangers
Compact heat exchangers Indirect sea-water cooling Image courtesy of Heatric Extensive use of compact printed circuit heat exchangers (PCHEs) – up to 1/25th plot area of air coolers
Slide 15: LNG Substructure
LNG Substructure Production ACE platform for LNG process equipment Similar to Hang Tuah Compression platform for ConocoPhillips, Indonesia
Slide 16: Floating LNG technology – on solid ground
Floating LNG technology – on solid ground Timor Sea LNG Project is a single module A NWS Train 5 (4.4 Mtpa) module Darwin LNG Plant (3.7 Mtpa) Pluto I (4.3 Mtpa) has 264 modules Timor Sea LNG Plant (3.0 Mtpa) at same scale – 1 module • Technology developed for FLNG, installed on fixed, self installi
Slide 17: Consider the Tassie Shoal advantages
Consider the Tassie Shoal advantages Viable alternative for CO2 and location challenged gas CO2 challenged Location challenged E Evans Shoal Sh l Greater Sunrise ‐ FLNG? Tassie Shoal? (Santos, Shell, Petronas, Osaka Gas) (WPL/Shell/ConocoPhillips/Osaka Gas) ~6+TCF 25% CO2 4 bbl/mmscf ~5.4 TCF 4% CO2
Slide 18: Concluding remarks
Concluding remarks Inspired p by yag great thinker - Albert Einstein(1879-1955) (1879 1955) “No problem can be solved from the same level of consciousness that created it” “If the facts don’t fit the theory, change the facts” “Insanity: doing the same thing over and over again and expecting a differ