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Canada’s Natural Gas & Oil Resources on a Global Stage
1 #233082
Vancouver Board of Trade
November 5, 2013
Enabling Responsible Development
2
Source: Cenovus
Canadian Crude Oil
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
4
Canadian Crude Oil Production Forecast
5
2012 Canada and U.S. Demand for Crude Oil by SourceThousand Barrels per Day
6
0
2
4
6
8
10
12
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
7
Access to Markets – Pipeline Expansions in Development
WCSB Takeaway vs Supply Forecast
9
10
CanadianNatural Gas
North American Unconventional Gas Resources
11
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
12
● LNG for export● Oil Sands growth● Gas-fired power and cogeneration● Vehicles – CNG/LNG
Natural Gas – Market Opportunities
13
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
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%
● 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
15
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
● 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
16
Source: Apache Corporation
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
17
B. C. Production –– Market Constrained Case and New Market Opportunity Case
18
Market Constrained Case
New Market Opportunity Case
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
19
Jobs andEconomic Benefits
What’s in it for us?
● $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
22
0
2
4
6
8
10
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Billi
on d
olla
rs
Capital Investment in British Columbia
BC Benefits
23
Watson Gloves Ideal Welders Wright’s FoodService
Northern LightsCollege
Direct Suppliers in British ColumbiaCurrent survey shows just under 400 companies
Being Part of the Discussion
25
@oilgascanada
www.facebook.com/OilGasCanada