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2013 Legislative Presentation Lake Charles Harbor & Terminal District.

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Presentation on theme: "2013 Legislative Presentation Lake Charles Harbor & Terminal District."— Presentation transcript:

1 2013 Legislative Presentation Lake Charles Harbor & Terminal District

2 CHANNEL ECONOMIC DEVELOPMENT DEVELOPMENT SASOL IFG Bulk Terminal No. 1 Trunkline LNG Lake Charles Clean Energy Ameristar G2X Magnolia LNG Sempra LNG

3 IFG UPDATE IFG Construction –New Concrete Silos Complete –Conveyors, Dock Improvements & Ship Loader Scheduled –Facilities Complete March 2014 UP Construction –Ladder Tracks & Wye by Chennault Port Infrastructure –Loop Tracks –Dredging –Port Cleat Road

4 MAGNOLIA LNG

5 Project Site at Point Calcasieu (Industrial Canal South Shore PLC Tract 475), Lake Charles, Louisiana

6 MAGNOLIA LNG Locations of existing gas pipeline infrastructure adjacent to the Site

7 MAGNOLIA LNG Preliminary Layout for Phase 1 (2 x 2 mtpa LNG Trains) with Provisions for the Future Phase 2

8 MAGNOLIA LNG

9 TRAFFIC OUTLOOK TONNAGE (SHORT TONS) ACTUAL _ 2011_ _ ACTUAL____2012____BUDGETED __ _2013___ Bagged Cargo Forest Products/Aluminum Frac Sand Other Subtotal Subtotal 249,518 249,518 107,485 107,485 174,137 174,137 46,619 46,619 577,759 577,759 292,081 292,081 69,427 69,427 152,631 152,631 58,865 58,865 573,004 573,004 220,000 220,000 110,000 110,000 50,000 50,000 68,000 68,000 448,000 448,000 BT-1BT-2BT-4LNGAlcoa Subtotal Subtotal Total Port Traffic 2,855,237 2,855,237 128,651 128,651 783,313 783,313 482,335 482,335 641,056 641,056 4,890,592 4,890,592 5,468,351 5,468,351 2,838,369 2,838,369 115,087 115,087 858,951 858,951 180,011 180,011 605,462 605,462 4,597,880 4,597,880 __ 5,170,884 2,815,000 2,815,000 -0- -0- 900,000 900,000 100,000 100,000 529,740 529,740 4,344,740 4,344,740 4,855,740 4,855,740

10 LAKE CHARLES CLEAN ENERGY LLC PROJECT HIGHLIGHTS

11 Feedstock At design, annual usage of approximately 2.4 million tons of petroleum coke or petcoke. Petcoke is an energy-rich waste byproduct produced from refining heavy crude oil, high in sulfur content. 25 percent of world’s petcoke is produced within 300 miles of the LCCE site. Gasification Technology LCCE will use advanced gasification technology to avoid harmful emissions while extracting energy from petcoke. LCCE will cleanly convert the feedstock chemically under high temperature and pressure to create clean synthesis gas with very low emissions. Methanol, Hydrogen and Byproduct Production LCCE is expected to be one of the world’s lowest-cost producers of methanol. Over 1 million metric tons of methanol will be produced each year, with the majority already committed under long-term off-take contracts. All of the hydrogen and argon produced annually will be sold under long-term off-take agreements. Approximately 400 thousand tons of sulfuric acid will be produced annually from the sulfur in the feedstock and is expected to be sold into the industrial market under long term off-take agreements. Annual Liquefied Carbon Dioxide (CO2) Production Facility to employ state-of-the-art technology to capture and sell approximately 90 percent of its CO2 for enhanced oil recovery. Approximately 4.5 million tons annually will be sold to Denbury Onshore LLC for use in enhanced oil recovery operations in the Gulf Coast Region (estimated to result in additional domestic oil recovery of 6 million to 9 million barrels.) Emissions Performance Highlights As a result of using gasification technology and state-of-the-art controls, permitted emissions will create zero liquid discharge of gasification process water and limited Sulfur Dioxide or Nitrogen Oxides emissions. In addition, 90 percent of the Carbon Dioxide will be captured and used for enhanced oil recovery operations.

12 G2X ENERGY, LLC G2X Energy - Houston based company Option to lease 200 acres (up to 3 years) Plant site located on Industrial Canal west of Alcoa $1.2 billion natural gas to gasoline plant

13 G2X ENERGY, LLC

14 G2X is mostly owned and controlled by two major other companies - Southern Chemical Company and The Proman Group. Proman is a large international company based in Switzerland, Germany, and Trinidad, which constructs, operates, and maintains large methanol and other manufacturing facilities.

15 G2X ENERGY, LLC Proman is the largest world-wide manufacturer of methanol. Southern Chemical is also a major producer of methanol. G2X has obtained from ExxonMobil a proven process of manufacturing methanol from natural gas and then further processing it to produce gasoline. The plant will produce 12,500 barrels of gasoline per day. The gasoline will be sent out by pipeline and by barge or vessel.

16 NAVIGATION Channel Dredging and Funding Beneficial Use of Dredged Material The Future

17 DREDGING Bar Channel – Currently being dredged. Mile 5 to 17 – Dredged to 300’ width rather than 400’ Mile 17 to 34 – To be advertized in first quarter of 2013 –Port committed to a beneficial use project to get DNR approval Mile 34 to 36 – Recently awarded after protest

18 FUNDING FY 12 – Channel dredged to less than authorized width FY 13 –Substantially below need ($15.7m vs. $50.9m) –Sequestration impact unknown ($14.4m @8%) –DMMP funded at $5.2m vs. $12.9m needed –Continuing Resolution may prevent use of DMMP funds in FY 13 FY 14 – No budget yet; Need $50m for O&M and DMMP

19 BENEFICIAL USE OF DREDGED MATERIAL Cameron Shoreline Calcasieu Lake – Dribble vs. Landslide –Port’s 125,000 cubic yard commitment Other Sites –Designated in DMMP –Identified through Local Input

20 FUTURE ISSUES Funding –Corps’ O&M Budget must be increased –The full amount in the Harbor Maintenance Trust Fund must be used Channel Widening and Deepening –Without Channel widening, increased vessel count will require one-way traffic –If the Channel is widened, should it be deepened, too

21 SUMMARY INCOME STATEMENT Actual _ _ 2011 _ _ _ 2011 _Preliminary __ _2012_ __ AmendedBudget Budget __ _2013___ Operating Revenues $ 36,930,196 $ 33,654,617 $ 31,840,280 $ 32,098,215 Operating Expenses $ 33,637,274 $ 31,248,111 $ 33,336,529 $ 36,154,149 Operating Income (Loss) $ 3,292,922 $ 2,406,506 ($1,496,249)($4,055,934) Net Income (Loss) $ 7,682,488 $ 4,988,280 $1,341,151($1,185,594) ** Cash Flow $ 18,866,560 $ 16,287,925 $ 13,517,060 $12,738,346 ** Excludes Grants, Mark to Market adjustments and non-cash write off of assets

22 GREATER BATON ROUGE 2011 PORT OF NEW ORLEANS 2011 PORT OF LAKE CHARLES 2012 Operating Revenues$ 5,891,664$ 43,404,494$ 33,654,617 Operating Expenses (excluding depreciation) 4,781,106 33,293,475 20,264,127 Depreciation 2,516,190 19,639,047 10,983,984 Total Expenses 7,297,296 52,932,522 31,248,111 Operating Income (Loss) (1,405,632) (9,528,028) 2,406,506 EBITDA $ 1,109,558$ 10,111,019$ 13,390,490 COMPARISON BY PORT

23 As of December 31, 2012 (unaudited) As of December 31, 2011 (audited) Unrestricted Cash & Investments Restricted Cash & Investments Trade Accounts Receivable Governmental Receivable Other Current Assets $ 47,267,467 1,000,000 6,457,623 1,713,519 4,817,754 $ 44,941,925 53,599 6,251,150 2,959,828 4,809,513 CURRENT ASSETS 61,256,363 59,016,015 Fixed Assets Construction in Progress Accumulated Depreciation 369,685,369 43,263,628 (160,070,407) 364,417,738 25,022,114 (154,219,803) FIXED ASSETS AND OTHER ASSETS 252,878,590 235,220,049 TOTAL ASSETS 314,134,953 294,236,064 Current Liabilities Non-Current Liabilities Retained Earnings 12,427,717 2,388,902 299,318,334 9,861,557 1,972,159 282,402,348 TOTAL LIABILITIES & EQUITY$314,134,953 $294,236,064 BALANCE SHEET AS OF DECEMBER 31, 2012

24 CASH OUTLOOK Investments 1/1/2013 $ 44,336,000 +Cash Flow $ 12,738,000 -Capital Spending – Port Funded (Total Projects & Equipment less expected funding by PPP / CO / Other on existing and future projects) ($ 50,503,000) Investments 12/31/13 $ 6,571,000

25 ANTICIPATED BOND ISSUE TIMEFRAME April – Submit initial resolution to Port Board for approval May – File application with LA State Bond Commission June – Anticipated final approval from the LA State Bond Commission July – Submit Bond Financing documents to Port Board for approval September – Bond pricing October – Closing

26 PORT PRIORITY PROJECTS FUNDED New Stacker/Reclaimers @ BT-1 (Complete May 2013) $9M State $10.8M Port Loop Tracks Phase II (Under Construction) $5.4M State $2.6M Port Ladder Tracks (Under Construction) $1.2M State $2.9M Port Wharf & Transit Shed #1 (Design Phase) $9.6M State $9.1M Port

27 PORT PRIORITY PROJECTS REQUESTED New Dry Bulk Dock @ BT-1 –$5.4M State (requested) –$34.6M Port

28 CAPITAL OUTLAY FUNDED Command & Control Center (Under Construction) –$290,000 State approved –$1,070,000 Port via Federal Grant Dockside Monopiles (LEEVAC) $153,000 State $101,000 Port

29 CAPITAL OUTLAY REQUESTED Sallier Lead Track Relocation –$1M Berth 8 Dredging –$250,000 New Administration Building –$500,000


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