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Thursday, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
 Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, according to Wood Mackenzie's latest research report "Troubled waters ahead? Rising water risks on the global energy industry", which utilizes data and maps from the World Resources Institute (WRI).
Working with WRI’s Aqueduct Water Risk Atlas, Wood Mackenzie identified that water risks could have the greatest impact on (1) shale gas in the US and with global expansion, (2) the upside for Middle East oil, and (3) China’s future coal mining and coal-fired power plants. Aqueduct mapped key energy production centers over baseline water stress levels (measuring the ratio of total water withdrawals to available supply). The analysis identified areas more likely to see high competition amongst local water users, increased depletion of the resource over time, and growing concerns over contamination of dwindling water supplies.
"The key water-driven business risks to the global energy industry include limited accessibility to new sources of supply, delays on project developments, increasing costs and asset downtime," said Tara Schmidt, Manager of Wood Mackenzie's Global Trends Service.
Almost all forms of energy production and power generation are dependent on water, and risks vary greatly by fuel type and asset location.
"Water is a risk to the energy industry. By progressing with innovative technologies, advanced water management practices and public policy engagement, the industry can rise to the challenge of reducing shared water risks," explained Paul Reig, Associate with WRI’s Aqueduct project.
Overall, the energy sector is the world’s largest industrial water user, at more than 15 percent of global supply and growing. The industry is under increasing scrutiny from the government and public on how it uses freshwater supplies.
"Some of the solutions to reduce water-driven risks include new technology implementation to improve operational environmental performance, and most importantly, early stakeholder engagement in the river basins, particularly with governments, to identify opportunities to collectively reduce water risks," added Reig.
Around the globe, access to water varies greatly depending on where assets are located, and thus on the local climate and socio-political conditions. The largest production locations for unconventional gas, oil and coal are in the US, Middle East and China, in areas of those countries that also happen to be some of the most water stressed.
Shale Gas in the US and with Global Expansion
If shale gas production is really to take off globally, government and public concerns over water use and contamination need to be addressed.
"The research shows that more than half of shale and tight gas reserves in the U.S. - as well as the top 10 countries by reserves volumes outside the US - are located in medium to extremely high baseline water stress areas, where competition is high with other local water users and concerns over water quality exist," explained Reig.
As a result, energy companies operating in these areas face risks of limited access to new sources of supply, and potential well cost increases of up to 15 percent, or sometimes substantially more.
However, across the global energy supply mix, unconventional gas holds some of the most promising opportunities to halve or altogether eliminate its water use with saline water sourcing, recycling and 'green completions’ – and potentially offset well cost increases as a result.
Likewise, some companies are beginning to address public concerns over water contamination with water impact assessment reporting and via collaborative public policy consortiums to more openly engage on shale gas production standards.
"Wood Mackenzie expects this trend in increasing transparency and public engagement to continue, as companies move into international markets with more pressing water concerns," added Schmidt.
Upside for Middle East oil
Middle East oil production is already facing constraints from inadequate water infrastructure for asset developments, and growing oil demand for local desalination needs will only exacerbate the situation.
"Inadequate water infrastructure contributes to significant project delays, and constrains opportunities to maximise production in the longer-term with more water-intensive enhanced recovery, completion techniques and recent shale gas exploration (such as in Saudi Arabia)," added Schmidt.
Lack of water injection for some of Iraq's biggest oil fields in the south is costing the region’s largest growing oil producer hundreds of thousands of barrels of oil per day.
With the central issue being the region's lack of water, both governments and energy companies are working to improve water management in the region by improving water infrastructure, conserving resources, and leveraging more efficient desalination technologies.
China's future coal mining and power plants
China’s coal mining and coal-fired power plants could face increasing water risks in the future, due to expanding operations in the water-stressed north and western provinces. According to Aqueduct, over 70 percent of China’s coal-fired power generation capacity is already located in areas of medium to extremely high baseline water stress.
Exacerbating the water challenge, coal production in these water-stressed areas is expected to increase 50 percent by 2030 while power output is expected to more than double.
"With the vast majority of China's water resources in the south, and the vast majority of new coal production coming on-stream in the north, the country is likely to face significant water constraints and conflicting water interests between population and industry," concluded Reig.
"Consequently, coal mining and power companies are likely to face future cost pressures in responding to government aspirations to minimize water use – be that from addressing regulatory changes, accessing water supplies and/or mitigating potential operational disruptions," said Schmidt.
In response to the challenge, coal companies are starting to mitigate their exposure by investing in water recycling and more water-efficient technologies – as well as working with other water users in search of collective solutions. For instance, some power companies are installing air cooling systems which could reduce up to two-thirds of their overall water use, while some coal producers are investing in waste water recycling.
Technology, Transparency & Engagement
Water risks could be leveled out in the future with technology, transparency and engagement offering opportunities to minimise risks for all fuel types. Companies can successfully deliver on these opportunities by:
1. Better understanding their operational water requirements,
2. Identifying their own water-driven business risks, and
3. Developing a clear and publicly available water strategy.
The big questions for energy companies are what future regulatory uncertainty they could face, where assets are located in water-stressed areas, and how they respond to rising water-driven business risks. If companies fail to rise to the challenge, there could be troubled waters ahead – posing risks to companies’ growth and the future energy supply mix.
About Wood Mackenzie
Wood Mackenzie is the most comprehensive source of knowledge about the world’s energy and metals industries. We analyse and advise on every stage along the value chain - from discovery to delivery, and beyond - to provide clients with the commercial insight that makes them stronger. For more information visit: www.woodmac.com
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Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
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- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Australian Coal Association
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
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