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19 December 2013
Pusat Konvensyen Antarabangsa Putrajaya (PICC)
• Incorporation of PETRONAS on • Gas exploration & development • Fully integrated multinational oil
17th August 1974 activities and gas company
Jet Fuel
Petroleum
Diesel
Products
Fuel Oil
OIL
Industrial Sector:
Ethylene
Refining
Petrochemical MTBE
Methanol
Polyethylene
Propylene
Condensates VCM / PVC
Sales Gas
Power Sector :
Methane
Exploration, Diesel
Development & LPG Fuel Oil
Production Processing
GAS Commercial &
Residential Sectors
LNG
Export
Liquefaction
© 2013 PETROLIAM NASIONAL BERHAD (PETRONAS)
Major Facilities
Offshore Platform 106
Active gas well 203
Major pipelines 923 km
Capacity 2,520 mmscfd feed gas
Major Facilities
Pipelines 2,505 km
City Gates 27
Slugcatchers 3
Kertih GPPs 6 (2,060 mmscfd)
TTM GSP 1 (350 mmscfd)
Compressor stations 3
RGT-1 Melaka 3.8 MTPA
Total Investment
• ~RM 26 billion to develop
PGU system
RGT 1
• ~RM 2 billion to develop
PGU Projects
Phase 1 - 1984 Trans Thai-Malaysia facilities
Phase 2 - 1992 • ~RM 3 billion to develop
RGT 2
Phase 3 - 1997 RGT-1
JDA - 2005
RGT-1 - 2013
© 2013 PETROLIAM NASIONAL BERHAD (PETRONAS)
3500
2002: 1st gas fr
PM3 CAA 2002: Import fr
West Natuna
3000
1998: PGU 3
(GPP 5-6)
2500
500
0
1970 1975 1980 1985 1990 1995 2000 2005 2010
© 2013 PETROLIAM NASIONAL BERHAD (PETRONAS)
Prior to RGT, gas supply in Peninsular Malaysia has not been able
to meet its demand due to a combination of issues
Supply
• Indigenous Peninsular Malaysia production is not able to meet demand
domestic producing fields are on rapid decline due to accelerated extraction
rate
• Over-stretching of the supply system has led to frequent supply interruptions
• Remaining reserves are technically & commercially challenging to be developed
Small in size
Scattered locations
High CO2 content
Demand
• Inappropriately priced gas has created unsustainably high demand
end users preference to gas have increased compared to other higher cost of
fuels such as coal, fuel oil, diesel or LPG
© 2013 PETROLIAM NASIONAL BERHAD (PETRONAS)
Unit: mmscfd
4000
3500
3000
2500
2000
1500
1000
500
0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Domestic Kerteh WNB JDA LNG Available RGT Capacity Contractual Demand
© 2013 PETROLIAM NASIONAL BERHAD (PETRONAS)
Government imposed regulated pricing in 1997 during the Asian Financial Crisis
In May 2011, Cabinet approved gas price increase effective from June 2011
Unit : RM/MMBtu
2.16 0.40
62.51
8.08
11.81
135.23
• Gas shortage
• Cost of new
supplies
• Inefficient usage
© 2013 PETROLIAM NASIONAL BERHAD (PETRONAS)
Market
Rules, Regul Stable Policy
Conduit to diversify ation & Prices that
sources of gas Framework incentivize timely
Enforcement
supplies via LNG availability of
imports supplies
• Regasification Terminals Clear & transparent Predictability and • Gas market set by
rules to facilitate credibility for competitive gas market
Sg. Udang, Melaka supply competition effective long-term
and safe utilisation of planning • Gradual phasing out
Pengerang, Johor gas regulated gas pricing
• A robust National Energy
• Third-party Access Policy that
Competition will help comprehensively
ensure gas is efficiently internalises Malaysia’s
priced energy challenges
Frequent policy changes will
create unacceptably high
risk for investors and lead to
underinvestment
© 2013 PETROLIAM NASIONAL BERHAD (PETRONAS)
THANK YOU
© 2013 PETROLIAM NASIONAL BERHAD (PETRONAS)
LNG WAP
Power Supply of up to 1,000 mmscfd
Discount Sector threshold will be at regulated
(FOB) X factor
ex Bintulu price. Threshold will be reviewed
15% for Power by PETRONAS every 3 years
10% for non-Power starting 2016
+ Supply above threshold will be at
Shipping the new gas pricing mechanism
Price of gas
delivered to
customers Non-Power Current contractual volume at
Regas Sector regulated price
All new contracts will be at the
new gas price
Pipeline
Transmission