Chile Oil and Gas Report Q1 2013

Publisher Name :
Date: 16-Jan-2013
No. of pages: 80

BMI View: Chile's small resource base makes the country heavily dependent upon imports to satisfy
demand and promote economic growth. Indeed, Chile in 2011 had to import 97% of total oil needs and
66% of its natural gas requirement. These issues will persist in spite of some long-term upside potential
stemming from the country's shale gas prospects. In the meantime, imported liquefied natural gas (LNG)
will play a greater role in energy security.
The key trends and developments in the Chilean oil & gas sector are:
?? In terms of domestic production, we forecast both oil and gas to rise moderately in the coming
years, with oil production increasing at an average of 1.8% through to 2021 and natural gas
increasing at an average rate of 1.05% through to 2015 and then to decline thereafter. At the
same time, Chilean consumption of oil and natural gas will steadily increase, adding additional
pressure on the government and state-owned Empresa Nacional del Petróleo (ENAP) to
increase imports. Indeed, due to the country's small resource base, Chile in 2011 had to import
97% of total oil needs and 66% of its natural gas requirement.
?? Today, two LNG import terminals service different regions of the country. The Quintero
regasification terminal provides natural gas to the majority of the country's population, while the
Mejillones terminal is well positioned to service the lucrative Chilean copper mines in the north.
Due to the energy intensity of the copper industry, there is significant interest in expanding the
capacity at Mejillones up from its current annual capacity of 2.0bn cubic metres (bcm).
?? Chilean power generators Colbun and AES Gener have selected Bermuda-registered Hoegh
LNG to install a new floating storage and regasification unit (FSRU) in Chile. The term of the
contract is 10 years, with an optional extension of five years. The FSRU, which will be situated
in Quintero Bay, will supply AES Gener's power plants in the country with natural gas. The
scheduled start-up of the project is late-2014. The transaction is subject to completion of final
documentation and board approval from both parties.
?? In terms of consumption, we forecast that oil use will rise from an estimated 332,400 barrels per
day (b/d) in 2012 to 345,700b/d by 2016. It will continue to increase steadily at an average rate
of 1.8% through to 2021. If Chile is to boost oil production, its best hope lies in exploration
taking place in the Magallanes region in the south of the country. We are also forecasting gas
consumption rising from an estimated 6.1bcm in 2012 to 9.8bcm by 2021.
The advent of technology capable of extracting oil and gas from shale formations has given Chile reason
for optimism over the long term. Although still very preliminary, the EIA estimates that Chile's oil and
gas producing Magallanes region may also contain 1,812.5bcm of technically recoverable shale gas
resources. Should even half of these estimated resources become economically recoverable, the amount of
gas produced would be sufficient to meet a 7.9bcm/year consumption rate for approximately 115 years.
Although we have not taken shale gas production into account in our forecasts, it remains a significant
upside risk in the long term. Indeed, the Chilean copper mining industry has already expressed interest in
utilising shale gas to power production.

Chile Oil and Gas Report Q1 2013

BMI Industry View 5
SWOT Analysis ..... 7
Chile Oil and Gas SWOT . 7
Industry Forecast Scenario ............. 8
Oil And Gas Reserves ...... 8
Table: Chile Proven Oil and Gas Reserves and Total Petroleum Data, 2010-2016 .......... 8
Table: Chile Proven Oil and Gas Reserves and Total Petroleum Data, 2015-2021 .......... 9
Oil Supply And Demand. 12
Table: Chile Oil Production, Consumption and Net Exports, 2010-2016 .......... 12
Table: Chile Oil Production, Consumption and Net Exports, 2015-2021 .......... 13
Gas Supply And Demand ............. 14
Table: Chile Gas Production, Consumption and Net Exports, 2010-2016 ......... 14
Table: Chile Gas Production, Consumption and Net Exports, 2015-2021 ......... 16
Liquefied Natural Gas......... 18
Refining And Oil Products Trade ...... 19
Revenues/Import Costs........ 19
Key Risks To BMI's Forecast Scenario ........... 20
Country Risk/Reward Ratings ....... 21
Chile Upstream Rating - Rewards ............. 21
Chile Upstream Rating - Risks .... 21
Chile Downstream Rating - Overview ....... 21
Regional Risk/Reward Rating ....... 22
Table: Latin American Oil & Gas Risk/Reward Ratings ........ 23
Table: Upstream Risk/Reward Ratings ...... 25
Table: Downstream Risk/Reward Ratings . 27
Chile Energy Market Overview ...... 28
Overview/State Role ............ 29
Licensing And Regulation ............ 29
Government Policy ........ 29
Licensing Rounds ........... 29
Second International Magallanes Tender .. 29
First International Magallanes Tender ...... 30
International Energy Relations ......... 30
Argentina ......... 30
Trinidad & Tobago ........ 30
Oil & Gas Infrastructure ... 31
Oil Refineries ........ 31
Table: Refineries In Chile ............ 31
Service Stations ..... 32
Gas Pipelines ........ 32
LNG Terminals ..... 32
Table: LNG Terminals In Chile ... 33
Competitive Landscape ... 34
Executive Summary ............. 34
Table: Chile - Key Players .......... 35
Table: Chile - Key Upstream Players ........ 35
Table: Key Downstream Players . 36
Company Profiles ............. 37
ENAP - Empresa Nacional del Petróleo......... 37
Copec (Compañía de Petróleos de Chile) ....... 40
Shell Chile............. 42
Petrobras Chile ..... 44
Repsol ..... 46
GeoPark Holdings 48
Wintershall - Summary .. 50
ExxonMobil Cono Sur - Summary ............. 51
Pan American Energy - Summary ............. 51
GDF Suez - Summary .... 51
Methanex - Summary ..... 51
Enagas/BG Group ......... 52
Regional Energy Market Outlook .. 53
Global Energy Market Outlook ...... 58
Table: Global Oil Demand Forecasts - A Comparison ......... 60
Latin America - Regional Appendix ........... 64
Table: Oil Consumption - Historical Data & Forecasts, 2009-2016 ('000b/d) . 64
Table: Oil Consumption - Long-Term Forecasts, 2014-2021 ('000b/d) ............ 64
Table: Oil Production - Historical Data & Forecasts, 2009-2016 ('000b/d) .... 65
Table: Oil Production - Long-Term Forecasts, 2014-2021 ('000b/d) . 65
Table: Refining Capacity - Historical Data & Forecasts, 2009-2016 ('000b/d) ............. 66
Table: Refining Capacity - Long-Term Forecasts, 2014-2021 ('000b/d) .......... 67
Table: Gas Consumption - Historical Data & Forecasts, 2009-2016 (bcm) ..... 67
Table: Gas Consumption - Long-Term Forecasts, 2014-2021 (bcm) .. 68
Table: Gas Production - Historical Data & Forecasts, 2009-2016 (bcm) ........ 68
Table: Gas Production - Long-Term Forecasts, 2014-2021 (bcm)...... 69
Table: LNG Exports - Historical Data & Forecasts, 2009-2016 (bcm)............. 69
Table: LNG Exports - Long-Term Forecasts, 2014-2021 (bcm) .......... 70
Methodology And Risks To Forecasts ....... 71
Glossary Of Terms ........... 72
Table: Glossary Of Terms ............ 72
Oil & Gas Risk/Reward Ratings Methodology ......... 74
Ratings Overview .. 74
Table: BMI's Oil & Gas Business Environment Ratings - Structure ... 75
Indicators 75
Table: BMI's Oil & Gas Upstream Ratings - Methodology .. 75
Table: BMI's Oil & Gas Business Environment Downstream Ratings - Methodology .... 76
BMI Methodology ............. 78
How We Generate Our Industry Forecasts ..... 78
Energy Industry .... 78
Cross checks ......... 79
Sources ... 79Table: Chile Proven Oil and Gas Reserves and Total Petroleum Data, 2010-2016
Table: Chile Proven Oil and Gas Reserves and Total Petroleum Data, 2015-2021
Table: Chile Oil Production, Consumption and Net Exports, 2010-2016
Table: Chile Oil Production, Consumption and Net Exports, 2015-2021
Table: Chile Gas Production, Consumption and Net Exports, 2010-2016
Table: Chile Gas Production, Consumption and Net Exports, 2015-2021
Table: Latin American Oil & Gas Risk/Reward Ratings
Table: Upstream Risk/Reward Ratings
Table: Downstream Risk/Reward Ratings
Table: Refineries In Chile
Table: LNG Terminals In Chile
Table: Chile - Key Players
Table: Chile - Key Upstream Players
Table: Key Downstream Players
Table: Global Oil Demand Forecasts - A Comparison
Table: Oil Consumption - Historical Data & Forecasts, 2009-2016 ('000b/d)
Table: Oil Consumption - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Oil Production - Historical Data & Forecasts, 2009-2016 ('000b/d)
Table: Oil Production - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Refining Capacity - Historical Data & Forecasts, 2009-2016 ('000b/d)
Table: Refining Capacity - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Gas Consumption - Historical Data & Forecasts, 2009-2016 (bcm)
Table: Gas Consumption - Long-Term Forecasts, 2014-2021 (bcm)
Table: Gas Production - Historical Data & Forecasts, 2009-2016 (bcm)
Table: Gas Production - Long-Term Forecasts, 2014-2021 (bcm)
Table: LNG Exports - Historical Data & Forecasts, 2009-2016 (bcm)
Table: LNG Exports - Long-Term Forecasts, 2014-2021 (bcm)
Table: Glossary Of Terms
Table: BMI's Oil & Gas Business Environment Ratings - Structure
Table: BMI's Oil & Gas Upstream Ratings - Methodology
Table: BMI's Oil & Gas Business Environment Downstream Ratings - Methodology

  • Global Luxury Apparels Market To Do Well Owing To Numerous International Brands
    The global luxury apparels market is fired by the intensifying number of fashion marques and many designers getting wide-ranging clienteles in the form of cost-effective products. The global luxury apparels market was at US$1, 8842.69 million in 2015 and is forecast to reach US$60,793.7 million by the end of 2024. This segment of luxury goods [...]
  • Global Health and Wellness Market Boosted By Organic Products and Wearables
    Healthcare has constantly been a profitable area where buyers spend belligerently. But now, with increasing disposable earnings amid the city population and ground-breaking approaches and innovative products being developed, the overall health and wellness market is estimated for a healthy prospect. The health and wellness market is presently very dynamic owing to growing alertness amongst [...]
  • Increasing New Outlets And Striking Offers To Drive Global Pizza Market
    The global pizza market is predicted to grow at a steady CAGR of about 3% by 2020. Pizza has been gaining massive acceptance globally in the last few years. Consequently, the global pizza market is anticipated to observer considerable progress in the coming years. The growing number of pizzerias is one of the major elements [...]
  • Healthy Diet Demand In Developed Economies To Boost Nutraceuticals
    As customers scuffle to keep up with the frantic lifestyles, the necessity for healthy nutrition rises owing to dearth of time to spend on laborious exercises.  Customers are shifting their attention to swift and healthy food behaviours. Increase in intake of beverages and functional food has offered makers of nutraceuticals with money-spinning prospects to benefit [...]
  • World Economic Forum Unveils Top 10 Emerging Technologies of 2016
    The World Economic Forum (WEF) and Scientific American lately unveiled the major technological innovation list of the top ten emerging technologies of 2016. This list emphasizes on the technological developments which have the supremacy to transform industries, protect the planet, and improve lives. It also presents an opening to discuss any societal, human, economic or [...]
  • China Bunker Oil Market Research Report 2016
    Published: 01-Dec-2016        Price: US 3200 Onwards        Pages: 108
    Notes: Sales, means the sales volume of Bunker Oil Revenue, means the sales value of Bunker Oil This report studies Bunker Oil in China market, focuses on the top players in China market, with capacity, production, price, revenue and market share for each manufacturer, covering - Aegean Marine Petroleum - BP - Bunker Holding - Chemoil - Exxon Mobil - KPI Bridge Oil - Bomin - Glander - Gazprom - GAC......
  • Pakistan Oil and Gas Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 71
    BMI View: Low oil prices, upstream spending cuts and natural declines combine to paint a bleak near-term upstream outlook for Pakistan, though its strong pipeline of discoveries and exploration plays point to plenty of upside once prices begin to rebound more significantly. The country will remain reliant on crude oil, refined fuels and natural gas imports to quench rising domestic demand. LNG imports are set to experience exponential growth, as influx of additional gas s......
  • Slovakia Oil and Gas Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 63
    BMI View: Slovakia has above-average energy import dependency compared with the regional average. The country remains reliant on Russia but is actively pushing through several projects aimed at improving bi-directional flows and establishing regional links for a regional gas market in Central and Southeast Europe. Its role a key gas transit country for gas coming from Russia, through Ukraine and Slovakia before heading to Western Europe, should also be maintained over the......
  • Trinidad and Tobago Oil and Gas Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 79
    BMI View: Shortages of natural gas are expected to persist until the start of the Juniper field in late 2017. These supply challenges will continue to disrupt gas exports and comes amid government concerns over the profitability of liquefied natural gas exports. The government has also called for operators to fully exploit existing acreage, suggesting the emergence of tensions between officials and upstream players. Investment has suffered continued delays due to the curr......
  • Vietnam Oil and Gas Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 76
    BMI View: Vietnam's dependence on energy imports is set to deepen over the coming decade, as strong growth in domestic demand for crude oil, refined fuels and natural gas comes in conflict with falling production. The increase in oil demand will primarily be driven by a more than tripling of its refining capacity, alongside positive macroeconomic and demographic factors. Gas demand will surpass output for the first time in 2020, when Vietnam's first import terminal is ant......
  • Bulgaria Oil and Gas Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 72
    BMI View: Improvements in the refining sector have boosted refined fuels production, though 2016 is proving to be tougher with margins expected to drop. An oil discovery by Total in the Bulgarian section of the Black Sea highlights the potential for both oil and gas exploration in the black Sea. This is a play opening move for Bulgaria and exploration will continue into 2017. The exploration outlook onshore in Bulgaria remains much more limited. Latest Updates And K......
  • Brazil Oil and Gas Report Q1 2017
    Published: 23-Nov-2016        Price: US 1295 Onwards        Pages: 126
    BMI View: Brazil's vast pre-salt reserves suggest substantial growth potential over the long term, underpinning our bullish upstream view that crude, natural gas, and other liquids output will rise over the next decade. However, production growth will be tempered by declining investment funds from Petrobras and continued headwinds from the corruption scandal and continued political fallout following the impeachment. Latest Updates And Key Forecasts ? On Septem......
  • Brunei Oil and Gas Report Q1 2017
    Published: 23-Nov-2016        Price: US 1295 Onwards        Pages: 57
    BMI View: Despite significant offshore potential and ambitious government plans to expand Brunei's upstream sector, the country has relatively small hydrocarbons reserves. This will limit oil and gas production, which will see only minor improvements over the coming five years. Brunei's underdeveloped downstream sector holds much brighter prospects as the new refinery and petrochemical complex at Pulau Muara Besar, scheduled to open in 2018, will support further diversifi......
  • Croatia Oil and Gas Report Q1 2017
    Published: 23-Nov-2016        Price: US 1295 Onwards        Pages: 69
    BMI View: Croatia's conservative government has failed to fully articulate its policies for the oil and gas sector, but the administration has adopted a pro-business stance generally that benefit investors. The government could help to restore confidence in the sector following protracted delay and uncertainty over licensing rounds. Aside from a floating proposed liquefied natural gas (LNG) terminal, the oil and gas sector is likely only to attract a modest level of inves......
  • SERVICES
    Value for Money
    We believe in "optimum utilization of available budget and resources". While servicing our clients' (your) market research requirements, we keep the same approach in focus to help you get the best value for your $$s.
    Ever Growing Inventory
    Ranging from the smallest feasible / required data (datasheets, data facts, SWOT analysis, company profiles, etc) to full research reports that help you make decisions, our inventory is updated almost on a daily basis with the latest industry reports from domain experts that track more than 5000 niche sectors.
    One Stop Solution
    Need a custom research report on medical devices market? Require all available business intelligence on 3D printing industry? Exploring F&B sector of a particular country/region? RnRMarketResearch.com is your one-stop-solution to all market intelligence needs. We not only offer custom research and consulting services, we also "bundle" reports to meet your needs and help you fetch the data analysis you require for your business.
    Dedicated Client Engagement
    Not limited to only "finding" relevant reports for you, our client engagement team dedicates its efforts to understand your "business need" and accordingly maps available research data to help you move forward. Call "your" client engagement executive any time of your day and get your questions answered in order to make the correct business decision.
    Saving Time and Efforts
    Simply share your research requirement details with us and let us do all the hard work to find required intelligence for you. When you add up our "one stop solution" and "dedicated client engagement" services mentioned above, you obviously know the time and effort saving you do by working with us.
    Payment Flexibility
    Working with Fortune 500 organizations, we understand the importance of being flexible for payments. Share your payment terms with us and we will surely match up to them to ensure you get access to required business intelligence data without having to wait for the payment to be done.
    Post-Purchase Research Support
    Have questions after reading a report / datasheet bought through us? Not sure about the methodology used for data available in the research? Talk to us / Share your questions with us and if required, we will connect you with the analyst(s)/author(s) of the report(s) and ensure you get satisfactory answers for the same. Need more data / analysis / report(s) on the topic of your research/project? The RnRMarketResearch.com team is here for you 24X7 to support you with your post-purchase requirements. Subscription Offers & Packages (Get in touch with us for more details - sales@rnrmarketresearch.com / +1 888 391 5441 )
    • Ad Hoc
    • Pay - as - you - go / Bucket Subscriptions
    • Fixed Cost for #of reports
    • Customize / Personalize as per your needs