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Abstract Natural gas resources are unevenly distributed around the world. Will we be able to grow transport capacity sufficiently quickly to transfer ever-increasing volumes of conventional natural gas from locations where it is found to where it is consumed in the 21st century and for how long? On a world scale, the crucial question for now is not how much gas there is overall, but the transport capacity linking regions with high gas resources to regions with a high consumption but insufficient local gas resources like North America, Europe and East Asia. To analyze the gas situation in the world, a gas distribution model was constructed. The model predicts the timing and amount of gas shortfall (the difference between demand and available supply) as well as depletion of recoverable gas resources for the various regions in the world for a 100-year period. To reduce the complexity of the problem, the world is split into only ten regions. In each region demand, supply and recoverable gas resources of the various countries are pooled. Transportation of gas by pipelines or LNG tankers is driven by the transport cost of gas between the regions and mainly depends on distance and topography. Several scenarios were tested for demand and recoverable gas resources using public data. Supply and demand predictions are from USA Government Agencies. Gas transport capacities between the regions were modeled using total export capacity of gas exporting regions. In the low and mid case scenarios shortfall of gas starts early for North America, East Asia and Europe, in the period 2015 (low case) to 2035 (mid case), and is caused by the low indigenous gas resources and by insufficient imports. In the high case scenario, which includes large volumes of tight gas, shortfalls would be much later, i.e. past 2070. North America has relatively large indigenous resources and imports relatively low amounts of gas but the local supply shortfall will be huge when its own resources are fully depleted. Both East Asia and Europe have low recoverable gas resources and high imports. Europe is strategically located to import gas from various regions but may find itself in competition with East Asia for pipeline gas. Key uncertainties are recoverable gas resources, demand and transport capacities, causing a supply shortage. For North America, East Asia and Europe, the lack of recoverable gas resources is most sensitive and development of unconventional gas resources will be essential to satisfy future demands. Another option is an increase of supply from gas exporting regions with very large resources like the Former Soviet Union and the Middle East, but this also requires much higher interregional transport capacities. Introduction Over the past decade, many papers have been written to investigate whether gas supply is capable of meeting global demand over the next 50 years (Huntington 2006; ICF Consulting 2005; International Energy Agency, 2006). Increasing attention is now also given to the distribution of gas around the world. The key question is whether we will be able to transport the ever-increasing volumes of gas from locations where it is found to where it is used. This paper presents a methodology for combining supply and demand profiles, recoverable gas resources and transport capacities in a single gas distribution model. The gas distribution model presented here uses public data and predictions from Government Agencies of the USA; supply and demand predictions from the EIA (Energy Information Agency 2007) and recoverable conventional natural gas resources from the USGS (United States Geological Survey 2000; Klett et al. 2005). Unconventional gas resources like tight gas, coal bed methane and shale gas are still uncertain (Kawata and Fujita 2001). The EIA estimates that recoverable volumes of tight gas are significant in North America (Energy Information Agency 2007) and this is also included in the model for one scenario.
- Government > Regional Government > North America Government > United States Government (1.00)
- Energy > Oil & Gas > Upstream (1.00)
- Energy > Oil & Gas > Midstream (1.00)
Of the 96 geologic provinces that contain practically all the world's known petroleum reserves, four lie in whole or part within Ukraine. According to the ranking of the U.S. Geological Survey World Petroleum Assessment 2000, the Dnieper-Donets Basin is 45th in importance, the Pannonian Basin 71st, the Azov-Kuban Basin 81st, and the North Carpathian Basin 82nd. Why, then, does Ukrainian oil and gas potential not shine more brightly on the petroleum industry's radar screen? The answer lies in a complex history and a no less complicated present. This article can hardly do the subject justice but will, I hope, raise interest and provide a stimulus to more study.
- Europe > Ukraine (1.00)
- Europe > Romania (1.00)
- North America > Canada > Alberta (0.31)
- Europe > Russia > Southern Federal District > Krasnodar Krai (0.25)
- Energy > Oil & Gas > Upstream (1.00)
- Government > Regional Government > North America Government > United States Government (0.71)
- Energy > Oil & Gas > Midstream (0.70)
- Europe > Ukraine > Poltava Oblast > Dnieper-Donets Basin (0.99)
- Europe > Ukraine > Dnieper-Donets Basin (0.99)
- Europe > Russia > Southern Federal District > Krasnodar Krai > Azov-Kuban Basin (0.99)
- (2 more...)
Abstract European refining is undergoing a transformation, faced with whittling margins and increased competition from other geographical areas, many have had to shut down. Different alternatives have appeared within Europe, being one of the preferred to integrate refining and trading and not using them solely to buy crudes and sell products, upon request. Based on the case of topping refineries in Europe, closed due to regulatory measures and low margins, three distinct examples of new uses of refinery assets for trading purposes are presented: a) Shutting down a refinery in safety conditions and starting it up in batches, only when the refining margin is positive. To assure the profitability of this operation, the margin is blocked using the futures market, so it is not exposed to a possible deterioration when the cargo is distilled. b) In a permanently closed refinery, the storage capacity could be used for trading operations. bi) Taking advantage of crude oil price fluctuation, especially when the market is in contango. Stocks are increased but it allows to improve the crude oil basket price for other refineries of the company or even to increase the processability of some kinds of crude oils. bii) Using refineries’ facilities to blend surplus streams, instead of selling the components separately, with a lower profit. Such as the case of gasoline blending, which has a higher number of components. This strategy allows the company to have more flexibility in scheduling turnarounds. Real examples where the three options mentioned above were held in different scenarios will be mentioned. For refineries with a strategic location, for example, near West Africa (crude oil exporter and gasoline bullish market) and with the objective of increasing the value of surplus streams for other refineries belonging to the same group, these alternatives are better suited for isolated refineries than the larger-scale solutions implemented in Northern Europe or the conversion to biorefineries being also a hot topic in the region.
- Africa (1.00)
- Europe > Spain > Canary Islands > Tenerife (0.16)
- Materials > Chemicals > Commodity Chemicals > Petrochemicals (1.00)
- Energy > Oil & Gas > Downstream (1.00)
- Oceania > Australia > New South Wales > Sydney Basin (0.99)
- Asia > Kazakhstan > Atyrau Oblast > Caspian Sea > Precaspian Basin > Kashagan Field (0.98)
Gas often was just flared or reinjected.
- Europe (1.00)
- North America > United States (0.98)
- Asia > Middle East > Saudi Arabia (0.49)
- (2 more...)
The 2013 outlook for the deepwater business indicates significant long-term opportunity. As deepwater projects become increasingly capital intensive, there are economic challenges for exploration and production (E&P) companies and a potential prize for international oilfield service and equipment vendors. Douglas-Westwood's report, the Deepwater Market Forecast 2013–2017, forecasts global capital expenditure (Capex) of more than USD 223 billion over the period, double the amount spent in the preceding 5-year period. The Golden Triangle of deep water--which includes west Africa, the Gulf of Mexico (GOM), and Brazil--will account for 80% of this expenditure. African and Brazilian developments are expected to drive the forecast spend, with developments of the former largely concentrated in Angola, Ghana, and Nigeria. Brazil is likely to experience substantial growth, exceeding Africa's deepwater expenditure toward the end of the forecast period.
- South America > Brazil (1.00)
- North America (1.00)
- Africa (1.00)
- South America > Brazil > Espírito Santo > South Atlantic Ocean > Espirito Santo Basin > Block BES-100 > Golfinho Field (0.99)
- North America > United States > Gulf of Mexico > Central GOM > West Gulf Coast Tertiary Basin > Walker Ridge > Block 508 > Stones Field (0.99)
- North America > United States > Gulf of Mexico > Central GOM > West Gulf Coast Tertiary Basin > Keathley Canyon > Block 964 > Hadrian Field (0.99)
- (29 more...)