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IPA10-BC-135
ABSTRACT
Large remote deepwater gas discoveries have
unique challenges with regard to becoming
commercial projects. Two options are floating
Liquefied Natural Gas (FLNG) and floating "Gas to
Liquids" (FGTL). These technologies include
several subsets that have specific advantages and
disadvantages depending on a range of investment
decision inputs which will determine which option
is appropriate for a particular development. Input to
these decisions will include governmental or
regulatory
requirements,
gas
reservoir
characteristics, facility issues, product pricing,
location of market(s), and risk.
Government or regulatory requirements include
taxation, cost recovery, domestic market
obligations, and procurement rules (including local
content). Gas reservoir characteristics include
reserves, production profiles, presence of
oil/condensate, and gas composition (methane C1,
ethane C2, propane C3, butane C4, C5+, water,
mercury, H2S, CO2, etc.). Facility issues range from
technical to commercial/contractual. Technical
facility issues include the number or size of floating
facilities required for production, storage,
offloading, and transport; processing risks
(reliability or safety); metocean constraints; project
schedules; constructability (including newbuild or
conversion);
and
operability.
Commercial/
contractual facility issues include capital
requirements and timing; purchase or lease;
depreciation; cost recovery. Product pricing issues
include selecting the market(s); determining pricing
mechanisms/formulas (floors, caps, ties to market
prices of other products, ability and timing of
repricing); market constraints (facilities for
redelivery and storage, take or pay); market trends;
and carbon view of selected product. Location of
the market(s) affects both pricing (domestic markets
versus international markets) and transport costs
(capital and operating costs for some number of
*
Hess Indonesia
Other syngas production technologies called noncatalytic partial oxidation (POX), catalytic partial
oxidation (CPOX), heat exchange reforming (HER)
and compact reforming (CPR) have been
developed and tested for potential use (Apanel
2005). Major operating companies like Shell, BP,
and ConocoPhillips are pursuing these other syngas
technologies. Some of these technologies have
been studied for offshore applications.
The selection of reactor technologies is important
for space optimization (size of reactor vessels), risk
mitigation (reactor / process temperatures), catalyst
selection (life cycle costs), and GTL product
selection. One challenge is to correctly select the
process details to help minimize lighter
hydrocarbon production (C1 to C4) whilst not
making too much soft (C20-C34) and hard (C35+)
waxes (which would present flow assurance risks).
There may be a need to perform mild hydrocracking
of the wax fractions to increase diesel production
(which would help mitigate flow assurance risks)
(Apanel 2005).
Offshore GTL facilities have been estimated to cost
~30% more than onshore GTL facilities (Olsvik
2005). GTL is more capital intensive for the
process facilities compared to LNG, but is less
expensive in storage/transport (no cryogenic ships
with special insulated tanks) and redelivery (no
regasification facilities) costs.
In similar onshore studies (Rahman 2008 and
Economides 2005), GTL was compared with LNG
for the development of a 650 MMSCFD field
(required reserves of 4.4 TCF over 20 years):
Facility Issues
a. Technical
b. Commercial / Contractual
Product pricing
a. Selecting the Market
The concept of constrained markets is important in
the product decision typically a significant LNG
investment decision would need a long term market
contract with high international LNG pricing, whilst
GTL syncrude would be sold into more open
liquids markets with multiple redelivery options
and linkage to international product pricing. There
is much more competition for long-term LNG
market contracts and LNG markets are relatively
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