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China’s First LNG Import Terminal

China’s First LNG Import Terminal. China’s First LNG Import Terminal. Characteristics - Guangdong Province Pearl River Delta Energy Demand Shareholders Project Description Trunkline Route & Customers Commercial Arrangements Summary. Pipeline Route. $10 bln of GDP.

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China’s First LNG Import Terminal

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  1. China’s First LNG Import Terminal

  2. China’s First LNG Import Terminal • Characteristics - Guangdong Province • Pearl River Delta Energy Demand • Shareholders • Project Description • Trunkline Route & Customers • Commercial Arrangements • Summary

  3. Pipeline Route $10 bln of GDP Guangdong Province East Pearl River Delta Population: 31m Guangzhou Dongguan • Total population c. 86 million (larger than the UK) • GDP approximately equal to: • Malaysia, • Singapore • Philippines • GDP growth 7- 9% p.a. • 2003 GDP 13.6% • Insufficient domestic energy resources Foshan Shenzhen West Pearl River Delta Population: 8m Hong Kong Hong Kong Population: 7m Macau Macau Population: 0.4m

  4. 4.0% 7.0% 8.7% 9.1% Guangdong Energy Demand Growth of Energy Mix

  5. Pearl River Delta PRD vs. Taiwan market (2001)

  6. 28% 55% GD LDCs 1.03 mtpa GD Power 2.05 mtpa HK Users 0.63 mtpa 17% Initial Gas Sales LNG Demand at Plateau

  7. Initial Project Development 1995 CNOOC / Shenzhen studies 1999 SDPC Listing 2001 BP Selected as Foreign Partner Establishment of Joint Executive Office 2003 Feasibility Study Approved

  8. JV Company Guangdong Dapeng LNG Company CNOOC 33% BP 30% Shenzhen Gas 10% Guangdong Yudean 6% Guangzhou Gas 6% Shenzhen Energy 4% Hong Kong Electric 3% Hong Kong & China Gas 3% Foshan Municipal Gas 2.5% Dongguan Fuel 2.5%

  9. Phase 1 capacity 3.7 mtpa • One single berth jetty • Vaporisation Facilities • 2 X 160,000 m3 storage tanks • 370 Km of pipelines • c. $900m project and working capital Terminal & Trunkline Project Description

  10. Terminal Offtake Station Phase 1 Pipeline Submarine Pipeline Trunkline Route • 370 Kms • Send-out: • Guangdong • city gas • power stations • Hong Kong Electric • Hong Kong & China Gas Guangzhou Nanhai Dongguan Foshan Huizhou Meishi Shenzhen Zhujiang Dongbu Qianwan Hong Kong

  11. Commercial Arrangements LNG Sale and Purchase Agreement Supply from Australia NWS, 25 years, take-or-pay, 3.2 mtpa at plateau, FOB Shipping 2-3 vessels, 145,000 m3 capacity, develop national LNG shipbuilding, Sino-foreign JV JV Company 30 years, LNG purchase, transportation, storage, re-gasification and gas marketing Financing 70% debt, 30% equity, project finance, syndicate of Chinese banks Gas Sales Contracts 25 years, take-or-pay, back-to-back with LNG purchase Terminal EPC Contract Saipem, Technigaz, Tecnimontand Sofregaz consortium selected as contractor, early works started in June 2003 Trunkline FEED ongoing

  12. China’s First LNG Import Terminal • First gas mid 2006 • Promotes clean energy and blue skies over Guangdong & Hong Kong • Leads the development of the Chinese LNG industry Guangdong Dapeng LNG Company Ltd.

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