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    LNG Costing

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    Olusegun Oyebanji
    The document discusses the estimation of yearly LNG production from small, medium, and large gas fields. It provides the gas rates, energy content, estimated LNG and LPG production for each field size. It also includes estimates for FLNG capital costs, operating costs, revenue, and profit for a small and medium field example.

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    LNG Costing

    Uploaded by

    Olusegun Oyebanji
    25 views11 pages
    The document discusses the estimation of yearly LNG production from small, medium, and large gas fields. It provides the gas rates, energy content, estimated LNG and LPG production for each field size. It also includes estimates for FLNG capital costs, operating costs, revenue, and profit for a small and medium field example.

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    LNG Costing

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    The document discusses the estimation of yearly LNG production from small, medium, and large gas fields. It provides the gas rates, energy content, estimated LNG and LPG production for each field size. It also includes estimates for FLNG capital costs, operating costs, revenue, and profit for a small and medium field example.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    25 views11 pages

    LNG Costing

    Uploaded by

    Olusegun Oyebanji
    The document discusses the estimation of yearly LNG production from small, medium, and large gas fields. It provides the gas rates, energy content, estimated LNG and LPG production for each field size. It also includes estimates for FLNG capital costs, operating costs, revenue, and profit for a small and medium field example.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    of 11

    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 Equation Used Comments


    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


    Purchased FLNG
    1. HULL *Bench marked with FLEX LNG
    Storage tanks
    Power generators
    Offloading equipment
    Accomodation
    Shipping mooring system
    utilities
    C1 $460,000,000.00
    Q1 1.7 Mtpy
    Q2 0.17 Mtpy
    C2=C1(Q2/Q1)0.6 $114,328,858.59

    2. TOPSIDE
    Liquefaction plant
    Floating LNG plants cost between $550 to $700 per tonne (per year) of
    Q1 $116,916,827.23 $ capacity Source:LNGpedia, [LNGpedia, 2010] and Wood, [Wood, D.,
    2008]
    Total FLNG Plant Direct Cost $231,245,685.82 $

    Indirect Cost
    Engineering design Cost( @ 8% Plant Cost) $18,499,654.87 $
    Construction cost( @ 7% Plant Cost) $16,187,198.01 $
    Contractor cost (@ 5% Plant Cost) $11,562,284.29 $
    Total Indirect Cost $46,249,137.16 $
    Contingency Cost( @ 8% direct + indirect cost) $22,199,585.84 $

    Total CAPEX $299,694,408.83 $

    Source:BERING SEA ABYSSAL FLNG Preliminary Estimates available


    at: http://www.strategicnine.com/Bering-Sea-LNG-budgets.htm
    FLNG Plant Operating Cost
    Capital and Floating LNG (FLNG)
    $
    financing costs ( @ 5% interest rate)
    Total Investment, Iinvest $299,694,408.83 $
    Interest rate, r 0.05 * 5%
    Loan Repayment Period, N 15 years
    Investment Annual Installment, R $28,873,244.93 $ R =r(1+r)N/(1+r)N-1
    Total Investment Paid off, Cinvest $433,098,673.95 $ Cinvest=IinvestNr(1+r)N/(1+r)N-1

    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 OPEX $81,058,621.92 $

    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 $50,274,131.49 $


    *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


    Purchased FLNG
    1. HULL
    Storage tanks
    Power generators
    Offloading equipment
    Accomodation
    Shipping mooring system
    utilities
    C1 $460,000,000.00
    Q1 1.7 Mtpy
    Q2 0.50 Mtpy
    C2=C1(Q2/Q1) 0.6
    $219,852,041.68

    2. TOPSIDE
    Liquefaction plant

    Q1 $347,670,690.73 $

    Total FLNG Plant Direct Cost $567,522,732.41 $

    Indirect Cost
    Engineering design Cost( @ 8% Plant Cost) $45,401,818.59 $
    Construction cost( @ 7% Plant Cost) $39,726,591.27 $
    Contractor cost (@ 5% Plant Cost) $28,376,136.62 $
    Total Indirect Cost $113,504,546.48 $
    Contingency Cost( @ 8% direct + indirect cost) $54,482,182.31 $

    Total CAPEX $735,509,461.21 $

    FLNG Plant Operating Cost


    Capital and Floating LNG (FLNG)
    $
    financing costs ( @ 5% interest rate)
    Total Investment, Iinvest $735,509,461.21 $
    Interest rate, r 0.05 * 5%
    Loan Repayment Period, N 15 years
    Investment Annual Installment, R $70,860,664.05 $
    Total Investment Paid off, Cinvest $1,062,909,960.76 $
    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 OPEX $170,138,666.24 $

    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 $90,353,276.65 $


    Equation Used Comments

    *Bench marked with FLEX LNG

    Floating LNG plants cost between $550 to $700 per tonne (per year) of
    capacity Source:LNGpedia, [LNGpedia, 2010] and Wood, [Wood, D.,
    2008]

    Source:BERING SEA ABYSSAL FLNG Preliminary Estimates available


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

    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

    SMALL 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


    Purchased FLNG
    1. HULL
    Storage tanks
    Power generators
    Offloading equipment
    Accomodation
    Shipping mooring system
    utilities
    C1 $460,000,000.00
    Q1 1.7 Mtpy
    Q2 1.02 Mtpy
    C2=C1(Q2/Q1) 0.6
    $339,198,214.56

    2. TOPSIDE
    Liquefaction plant

    Q1 $716,209,105.17 $

    Total FLNG Plant Direct Cost $1,055,407,319.73 $

    Indirect Cost
    Engineering design Cost( @ 8% Plant Cost) $84,432,585.58 $
    Construction cost( @ 7% Plant Cost) $73,878,512.38 $
    Contractor cost (@ 5% Plant Cost) $52,770,365.99 $
    Total Indirect Cost $211,081,463.95 $
    Contingency Cost( @ 8% direct + indirect cost) $101,319,102.69 $

    Total CAPEX $1,367,807,886.37 $

    FLNG Plant Operating Cost


    Capital and Floating LNG (FLNG)
    $
    financing costs ( @ 5% interest rate)
    Total Investment, Iinvest $1,367,807,886.37 $
    Interest rate, r 0.05 * 5%
    Loan Repayment Period, N 15 years
    Investment Annual Installment, R $131,777,740.78 $
    Total Investment Paid off, Cinvest $1,976,666,111.74 $
    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 OPEX $306,267,664.29 $

    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 $166,646,502.97 $


    Equation Used Comments

    *Bench marked with FLEX LNG

    Floating LNG plants cost between $550 to $700 per tonne (per year) of
    capacity Source:LNGpedia, [LNGpedia, 2010] and Wood, [Wood, D.,
    2008]

    Source:BERING SEA ABYSSAL FLNG Preliminary Estimates available


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

    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.

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