Global Energy Markets Panel #1A Wednesday, June 10 th 09:00 – 10:15 How the North American and global energy sector is increasingly impacting our region.

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Presentation transcript:

Global Energy Markets Panel #1A Wednesday, June 10 th 09:00 – 10:15 How the North American and global energy sector is increasingly impacting our region Moderator: Barry Munro, Oil and Gas Leader, EY Canada Participants: Bob Tippee, Chief Editor, Oil and Gas Journal John Van der Put, VP Energy East Pipeline, TransCanada Phillip Ribbeck, Director, LNG North America, Repsol; Chairman, Executive Committee, Canaport LNG

Adjusting to Abundance Bob Tippee, Editor, Oil & Gas Journal East Coast Energy Connection Saint John, New Brunswick June 10, 2015

Fundamentals: 2014 balance 2014 forecast2014 actual Million b/d Global demand92.5 Non-OPEC supply OPEC NGL Left to balance OPEC crude Stock change Sources: 2014 forecast from IEA January 2014 Oil Market Report with OGJ F&R forecast for OPEC crude and stock change calculated; 2014 actual from IEA May 2015 OMR.

Fundamentals: 2015 balance 2014Jan f’cstMay f’cst Million b/d Global demand Non-OPEC OPEC NGL To balance OPEC crude * Stck change *1Q average; April OPEC was 31.2 MMb/d. Source: IEA Oil Market Report for respective months; OGJ forecast for January OPEC crude, calculations for stock change.

New market dynamics Supply from unconventional resources – High volume at high cost – Limited need for exploration – Rapid supply response (especially tight oil) Changing role for OPEC – Supply modulation = lost share – Internal strife, external ramifications Is everyone a swing producer now?

Contact Information Bob Tippee Oil & Gas Journal

A choice between status quo and Energy East John Van der Put, Vice-President, Energy East Pipeline East Coast Energy Connection Saint John, New Brunswick June 10, 2015

TransCanada: Leading North American Energy Infrastructure Company One of North America’s Largest Natural Gas Pipeline Networks 68,000 km of pipeline 14 Bcf/d or 20% of demand 368 Bcf of capacity Largest Private Sector Power Generator in Canada 19 power plants, 10,900 MW Premier Oil Pipeline System Safely delivered more than 900 million barrels of Canadian oil to U.S. markets since million bbl/d ultimate longhaul capacity

Energy East

Eastern Canada is importing between $15 and $25 Billion in Crude Oil per year

Delivering Energy Safely

Take Action

Phillip Ribbeck Director, LNG North America, Repsol; Chairman, Executive Committee, Canaport LNG