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LNG Costing Leasing

The document discusses the estimation of yearly LNG production from small, medium, and large natural gas fields. It provides calculations for peak gas rates, energy content, LNG and LPG production rates, power requirements for FPSOs, and estimated capital and operating costs for FLNG plants to process the gas into LNG.

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Olusegun Oyebanji
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148 views15 pages

LNG Costing Leasing

The document discusses the estimation of yearly LNG production from small, medium, and large natural gas fields. It provides calculations for peak gas rates, energy content, LNG and LPG production rates, power requirements for FPSOs, and estimated capital and operating costs for FLNG plants to process the gas into LNG.

Uploaded by

Olusegun Oyebanji
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Component Mol % Gross (2) x (3)/100

Heating BTU/SCF
Value
BTU/SCF

CO2 3.02 0 0
N2 2 0 0
H2S 0 637 0
C1 89.75 1010 906.475
C2 3.63 1770 64.251
C3 0.99 2516 24.9084
i-C4 0.15 3252 4.878
n-C4 0.2 3262 6.524
i-C5 0.08 4001 3.2008
n-C5 0.06 4009 2.4054
n-C6 0.05 4756 2.378
n-C7 0.06 5503 3.3018
n-C8 0.01 6249 0.6249
TOTAL 1018.95 BTU/SCF
ESTIMATION OF LNG YEARLY PRODUCTION

Small Field
Peak Gas Rate, Qstd 30 MMScfd
Peak Gas Rate, less quantity required for power on FPSO, Q 23.393 MMScfd APCI PLANT CLASSIFICATION
1BScf = 0.021 MM tons LNG 0.03-0.5 MM tpy small
LNG Production, tpy (Basis: 340 days/year) 0.17 MMtpy 0.5-2.5 MM tpy medium
Remark Small size plant 3-8 MM tpy large
LPG Production, tpy (Basis: 340 days/year) 0.184 MMtpy
Condensate Production, tpy (Basis: 340 days/year)

Medium Field
Peak Gas Rate, Qstd 80 MMScfd
Peak Gas Rate, less quantity required for power on FPSO, Q 69.562 MMScfd
1BScf = 0.021 MM tons LNG
LNG Production, tpy (Basis: 340 days/year) 0.50 MMtpy
Remark Small size plant
LPG Production, tpy (Basis: 340 days/year) 0.55 MMtpy
Condensate Production, tpy (Basis: 340 days/year)

Large Field
Peak Gas Rate, Qstd 160 MMScfd
Peak Gas Rate, less quantity required for power on FPSO, Q 143.299 MMScfd
1BScf = 0.021 MM tons LNG
LNG Production, tpy (Basis: 340 days/year) 1.02 MMtpy
Remark Medium size plant
LPG Production, tpy (Basis: 340 days/year) 1.13 MMtpy
Condensate Production, tpy (Basis: 340 days/year)

GAS REQUIRED TO GENERATE POWER FOR FPSO ONLY

Small Field BALANCE


Peak Gas Rate 6.607 MMScfd 23.393 MMScfd
Energy@ 1018.95 MMBtu/MMScf (BTU) 6607 MMBTU/day
1BTU = 1055J 6732467.53246753 MJ/day
1 day = 86400 sec 78 MJ/sec or MW
Power Generated (MW) 78 MW
Power Generated (MW) @ 38.5% efficiency 30 MW

Medium Field BALANCE


Peak Gas Rate 10.438 MMScfd 69.562 MMScfd
Energy@ 1018.95 MMBtu/MMScf (BTU) 10636 MMBTU/day
1BTU = 1055J 11220779.2207792 MJ/day
1 day = 86400 sec 130 MJ/sec or MW
Power Generated (MW) 130 MW
Power Generated (MW) @ 38.5% efficiency 50 MW

Large Field BALANCE


Peak Gas Rate 16.701 MMScfd 143.299 MMScfd
Energy@ 1018.95 MMBtu/MMScf (BTU) 17017 MMBTU/day
1BTU = 1055J 17953246.7532468 MJ/day
1 day = 86400 sec 208 MJ/sec or MW
Power Generated (MW) 208 MW
Power Generated (MW) @ 38.5% efficiency 80 MW
*Bench marked with BERING SEA DEEPS LNG

SMALL FIELD
Peak Gas Rate, less quantity required for
23.39 MMScfd
power on FPSO, Q
Energy@ 1018.95 MMBtu/MMScf (BTU) 23836.01 MMBtu/d
LNG Production, tpy (Basis: 340 days/year) 0.17 MMtpy

FLNG Plant Capital Cost


1.) Shipping mooring system $
*Bench marked with Azur Offshore LTD
FSU Cost Database( 1996 cost) Water depth of 500
metres
Turret Mooring System Engineering $751,640.00
Model Testing $180,393.60
Construction $12,026,240.00
Mooring Lines $751,640.00
Total Cost(1996), Present value $13,709,913.60
n 14 years
Interest rate 5 %
Total cost @ 5% interest rate $27,144,691.16

C1 $27,144,691.16
Q1 500 m
Q2 120.00 m
C2=C1(Q2/Q1) 0.6
$11,529,531.23

Total FLNG Capital Cost $11,529,531.23 $

FLNG Plant Operating Cost

Plant Leasing Cost

$7,953,525.66 $
Capital and Floating LNG (FLNG)
financing costs ( @ 5% interest rate)
Total Investment, Iinvest $19,483,056.89 $
Interest rate, r 0.05 * 5%
Loan Period, N 15 years
Investment Annual Installment, R $1,877,042.27 $
Total Investment Paid off, Cinvest $28,155,634.05 $

Labour Cost
Total Labour Cost $28,324,800.00 $
Production and lifting costs
$5,965,144.25 $
(@ $0.75 per 1,000cf)
Liquefaction, loading and
$11,930,288.49 $
storage costs ( @$1.50 per 1,000cf)
Shipping costs (@ $0.75 per 1,000cf) $5,965,144.25 $

TOTAL Operating Cost $54,062,419.26 $

REVENUE
LNG (Sale @ $10.70 per MMBtu LNG) $86,715,421.22 $
LPG (Sale @ $400 per tonne LPG) $73,490,577.12 $
Condensate (Sale @ $70 per Barrel Condensate)* $

TOTAL Revenue $160,205,998.33 $

Profit Before Tax $104,266,536.81 $


Equation Used Comments

£1 =$1.50328

Source:BERING SEA ABYSSAL FLNG Preliminary Estimates available


at: http://www.strategicnine.com/Bering-Sea-LNG-budgets.htm

Floating LNG (FLNG) Lease and financing costs ($1per 1,000cf)


Source: Bering Sea Deeps FLNG

23392.7225358293

R =r(1+r)N/(1+r)N-1
Cinvest=IinvestNr(1+r)N/(1+r)N-1
*Bench marked with BERING SEA DEEPS LNG

MEDIUM FIELD
Peak Gas Rate, less quantity required for
69.56 MMScfd
power on FPSO, Q
Energy@ 1018.95 MMBtu/MMScf (BTU) 70880.16 MMBtu/d
LNG Production, tpy (Basis: 340 days/year) 0.50 MMtpy

FLNG Plant Capital Cost


1.) Shipping mooring system $
*Bench marked with Azur Offshore LTD
FSU Cost Database( 1996 cost) Water depth of 500
metres
Turret Mooring System Engineering $751,640.00
Model Testing $180,393.60
Construction $12,026,240.00
Mooring Lines $751,640.00
Total Cost(1996), Present value $13,709,913.60
n 14 years
Interest rate 5 %
Total cost @ 5% interest rate $27,144,691.16

C1 $27,144,691.16
Q1 500 m
Q2 300.00 m
C2=C1(Q2/Q1) 0.6
$19,979,087.78
Total FLNG Capital Cost $19,979,087.78 $

FLNG Plant Operating Cost

Plant Leasing Cost

$23,651,067.40 $
Capital and Floating LNG (FLNG)
financing costs ( @ 5% interest rate)
Total Investment, Iinvest $43,630,155.18 $
Interest rate, r 0.05 * 5%
Loan Period, N 15 years
Investment Annual Installment, R $4,203,428.96 $
Total Investment Paid off, Cinvest $63,051,434.38 $

Labour Cost
Total Labour Cost $28,324,800.00 $

Production and lifting costs


$17,738,300.55 $
(@ $0.75 per 1,000cf)
Liquefaction, loading and
$35,476,601.10 $
storage costs ( @$1.50 per 1,000cf)
Shipping costs (@ $0.75 per 1,000cf) $17,738,300.55 $

TOTAL Operating Cost $103,481,431.15 $

REVENUE
LNG (Sale @ $10.70 per MMBtu LNG) $257,862,029.83 $
LPG (Sale @ $400 per tonne LPG) $73,490,577.12 $
Condensate (Sale @ $70 per Barrel Condensate) $

TOTAL Revenue $331,352,606.95 $

Profit Before Tax $223,667,746.84 $


Equation Used Comments

£1 =$1.50328

Source:BERING SEA ABYSSAL FLNG Preliminary Estimates available


at: http://www.strategicnine.com/Bering-Sea-LNG-budgets.htm

Floating LNG (FLNG) Lease and financing costs ($1per 1,000cf)


Source: Bering Sea Deeps FLNG

R =r(1+r)N/(1+r)N-1
Cinvest=IinvestNr(1+r)N/(1+r)N-1
*Bench marked with BERING SEA DEEPS LNG

LARGE FIELD
Peak Gas Rate, less quantity required for
143.30 MMScfd
power on FPSO, Q
Energy@ 1018.95 MMBtu/MMScf (BTU) 146014.66 MMBtu/d
LNG Production, tpy (Basis: 340 days/year) 1.02 MMtpy

FLNG Plant Capital Cost


1.) Shipping mooring system $
*Bench marked with Azur Offshore LTD
FSU Cost Database( 1996 cost) Water depth of 500
metres
Turret Mooring System Engineering $751,640.00
Model Testing $180,393.60
Construction $12,026,240.00
Mooring Lines $751,640.00
Total Cost(1996), Present value $13,709,913.60
n 14 years
Interest rate 5 %
Total cost @ 5% interest rate $27,144,691.16

C1 $27,144,691.16
Q1 500 m
Q2 1200.00 m
C2=C1(Q2/Q1) 0.6
$45,899,890.54
Total FLNG Capital Cost $45,899,890.54 $

FLNG Plant Operating Cost

Plant Leasing Cost

$48,721,707.83 $
Capital and Floating LNG (FLNG)
financing costs ( @ 5% interest rate)
Total Investment, Iinvest $94,621,598.38 $
Interest rate, r 0.05 * 5%
Loan Period, N 15 years
Investment Annual Installment, R $9,116,061.24 $
Total Investment Paid off, Cinvest $136,740,918.67 $

Labour Cost
Total Labour Cost $28,324,800.00 $

Production and lifting costs


$36,541,280.88 $
(@ $0.75 per 1,000cf)
Liquefaction, loading and
$73,082,561.75 $
storage costs ( @$1.50 per 1,000cf)
Shipping costs (@ $0.75 per 1,000cf) $36,541,280.88 $

TOTAL Operating Cost $183,605,984.75 $

REVENUE
LNG (Sale @ $10.70 per MMBtu LNG) $531,201,330.92 $
LPG (Sale @ $400 per tonne LPG) $73,490,577.12 $
Condensate (Sale @ $70 per Barrel Condensate) $

TOTAL Revenue $604,691,908.04 $

Profit Before Tax $411,969,862.05 $


Equation Used Comments

£1 =$1.50328

Source:BERING SEA ABYSSAL FLNG Preliminary Estimates available


at: http://www.strategicnine.com/Bering-Sea-LNG-budgets.htm

Floating LNG (FLNG) Lease and financing costs ($1per 1,000cf)


Source: Bering Sea Deeps FLNG

R =r(1+r)N/(1+r)N-1
Cinvest=IinvestNr(1+r)N/(1+r)N-1
LABOUR COST ESTIMATE
man months per man month Total

Operators 240 $ 112,000 $ 26,880,000


Supervisors 48 $ 22,400 $ 1,075,200
Plant Manager 12 $ 5,600 $ 67,200
252 $ 1,200 $ 302,400

TOTAL $ 28,324,800

Assumptions
Duration (Months) 12
Wage Rates
Operators( @$35/hr) 35
Supervisors( @ $60/hr) 60
Plant Manager ( @$100/hr) 100

Manhours per month(8hr/day) 160


Number of Operators 20
Supervisors 4
Plant Manager 1
Notes
Based on: all member of the team working an
eight(8) hour shift. Cost based on daily rate for
similar plant operation.
*Bench marked with BERING SEA DEEPS LNG

LARGE FIELD
Peak Gas Rate, less quantity required for
420.17 MMScfd
power on FPSO, Q
Energy@ 1018.95 MMBtu/MMScf (BTU) 428130.18 MMBtu/d
LNG Production, tpy (Basis: 340 days/year) 3.00 MMtpy

FLNG Plant Capital Cost


1.) Inlet/Reception Facilities
2.) Liquefaction/Fractionation Unit
3.) Storage and Loading Unit
2.) Utilities Unit

$142,857,120.00 $
Total FLNG Plant Direct Cost
Indirect Cost
Engineering design Cost( @ 8% Plant Cost) $11,428,569.60 $
Construction cost( @ 7% Plant Cost) $9,999,998.40 $
Contractor cost (@ 5% Plant Cost) $7,142,856.00 $
Total Indirect Cost $28,571,424.00 $
Contingency Cost( @ 8% direct + indirect cost) $13,714,283.52 $

FLNG Plant Operating Cost


Capital and Floating LNG (FLNG)
$
financing costs ( @ 5% interest rate)
Total Investment, Iinvest $185,142,827.52 $
Interest rate, r 0.05 * 5%
Loan Period, N 15 years
Investment Annual Installment, R $17,837,083.54 $
Total Investment Paid off, Cinvest $267,556,253.07 $

Labour Cost
Total Labour Cost $28,324,800.00 $

Production and lifting costs


$107,142,840.00 $
(@ $0.75 per 1,000cf)
Liquefaction, loading and
$214,285,680.00 $
storage costs ( @$1.50 per 1,000cf)
Shipping costs (@ $0.75 per 1,000cf) $107,142,840.00 $

TOTAL Operating Cost $474,733,243.54 $

REVENUE
LNG (Sale @ $10.70 per MMBtu LNG) $1,557,537,607.94 $
LPG (Sale @ $400 per tonne LPG) $73,490,577.12 $
Condensate (Sale @ $70 per Barrel Condensate) $

TOTAL Revenue $1,631,028,185.06 $

Profit Before Tax $1,138,457,857.98 $


Equation Used Comments

Capital and Floating LNG (FLNG) Lease and financing costs ($1per
1,000cf) Source: Bering Sea Deeps FLNG

$4,285,713,600.00

R =r(1+r)N/(1+r)N-1
Cinvest=IinvestNr(1+r)N/(1+r)N-1

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