For an Executive Summary of this report please contact ediz.ibrahim@visiongain.com (+44 (0)20 7549 9976) or refer to our website http://www.visiongain.com/Report/1200/Gas-to-Liquids-%28GTL%29-Market-Forecast-2014-2024

1. Gas to Liquids (GTL) Market Forecast
2014-2024
What Are The Future Prospects for Companies in this
Major XTL Segment?
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2. Contents
1. Executive Summary
1.1 Global Gas-to-Liquids Market Overview
1.2 Benefits of This Report
1.3 Who is This Report For?
1.4 Methodology and Gas-to-Liquids Market Definition
2. Introduction to the GTL Market
2.1 Gas-to-Liquids Market Definition
2.1.1 Defining Gas-to-Liquids
2.1.2 Defining the Gas-to-Liquids Markets
2.2 The Gas-to-Liquids Market Structure
2.2.1 Large-Scale GTL Facilities and Geographical Market Forecasts
2.2.2 Small-Scale Market Forecast
2.2.3 Forecast of Volume of GTL Produced
2.2.4 GTL Liquids Sales Forecast
2.3 Small-Scale Gas-to-Liquids Definition
2.3.1 What Are The Applications of Small-Scale GTL?
2.4 GTL Technology
2.4.1 Fischer-Tropsch (FT)
2.4.2 Modular GTL
2.4.3 Methanol-to-Gasoline (MTG)
2.4.4 Other Methods
2.5 Pilot, Demonstration, Semi-Commercial and Research GTL Facilities
2.6 GTL Technology Cost
2.7 Recent History of Commercial GTL
3. Global GTL Markets 2014-2024
3.1 The Global GTL Markets 2014-2024
3.1.1 What are the Overarching Drivers and Restraints on the GTL Markets as a Whole?
3.1.1.1 Drivers
3.1.1.2 Restraints
3.1.2 Are Exceptional Circumstances Still the Prime Determinant of GTL Industry Investment?
3.1.2.1 Conventional Requirements for GTL Feasibility
3.1.2.2 Requirements for GTL Feasibility (How Small-Scale GTL Can Change the Rules)
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3. Contents
3.1.3 What Are the Economics of GTL and How Greatly is a GTL Facility Viability Affected by the Oil & Gas
Price?
3.1.4 The Future of Commercial GTL
3.2 The Global GTL Capital Expenditure Forecast 2014-2024
3.3 The Global GTL Liquids Production Forecast 2014-2024
3.4 The Global GTL Liquids Sales Forecast 2014-2024
4. GTL Capital Expenditure Submarkets 2014-2024
4.1 Large-Scale GTL Facility CAPEX Forecast 2014-2024
4.1.1 What Challenges Do Financiers of Large-Scale GTL Face?
4.1.2 Large Scale GTL Projects
4.2 Small-Scale GTL Facility CAPEX Forecast 2014-2024
4.2.1 Small-Scale GTL Drivers & Restraints
4.2.2 What Is Preventing Small-Scale GTL from Taking Off?
4.2.3 What Is The Potential Resource Available for Monetisation by Small-Scale GTL?
4.2.4 What Percentage of Small-Scale GTL Spending Has Been Disclosed?
4.2.5 What Are The Applications of Small-Scale GTL?
4.2.6 What Are the Prime Markets For Initial Small-Scale GTL Production?
4.2.7 What is the Potential of Nigeria and Russia for Small-Scale GTL Monetisation?
4.2.8 What Impact Will The US Shale (Tight) Oil Revolution Have on the Small-Scale GTL Market?
4.2.9 What Is the Market for Small-Scale GTL?
4.2.10 Small-Scale GTL Projects
5. Leading Regional and National GTL Markets 2014-2024
5.1 US GTL Market Forecast 2014-2024
5.1.1 US GTL Drivers & Restraints
5.1.2 How Will The Arbitrage Opportunity Between Oil & Gas and US Natural Gas Reserves Affect the
Development of the US GTL Industry?
5.1.3 What Type of Large-Scale GTL Facility is Likely to Be Built in the US Market?
5.1.4 What Role Does the Political and Business Climate in the US Play in the Development of the GTL
Industry?
5.1.5 How Do The Gasoline and Diesel Markets Affect GTL Prospects in the US?
5.1.6 What Economic Consideration Must Be Made in the US with Regard to GTL Financing?
5.1.7 Why Was The Shell Proposal in Louisiana Cancelled?
5.1.8 US GTL Projects
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4. Contents
5.1.9 What is the Most Prominent Emerging Trend for GTL in the US?
5.1.10 Previous US GTL Experiences and Proposals
5.1.11 US Ethylene Crackers
5.2 Qatari GTL Market Forecast 2014-2024
5.2.1 Qatari GTL Market Drivers & Restraints
5.2.2 When is the Qatar North Field Moratorium Likely to End?
5.2.3 What Are Qatari GTL Prospects Post-Moratorium?
5.2.4 What Impact Will LNG Exports from Qatar Have on GTL CAPEX?
5.2.5 How Does the Qatari Gas and Oil Market Affect GTL Prospects?
5.2.6 What is the Role of the Qatari Government in the GTL Market?
5.2.7 Qatari GTL Projects
5.3 Southern Africa GTL Market Forecast 2014-2024
5.3.1 The Mozambique GTL Market
5.3.1.1 Mozambique GTL Market Drivers & Restraints
5.3.1.2 Mozambique GTL Market Analysis
5.3.2 The South African GTL Market
5.3.2.1 South African GTL Market Drivers & Restraints
5.3.2.2 South African GTL Market Analysis
5.3.3 Southern Africa GTL Projects
5.4 Canadian GTL Market Forecast 2014-2024
5.4.1 Canadian GTL Market Drivers & Restraints
5.4.2 Canadian Shale Gas Acreage and GTL
5.4.3 How Favourable Are GTL Economics in Canada?
5.4.4 How Will Canadian LNG Exports Affect GTL Prospects?
5.4.5 What Pipeline Infrastructure Limitations Will Impact GTL?
5.4.6 Canadian GTL Projects
5.5 Iranian GTL Market Forecast 2014-2024
5.5.1 Iranian GTL Market Drivers & Restraints
5.5.2 Iranian GTL Market Analysis
5.5.3 What is the Current R&D Position of the Iranian GTL Industry?
5.5.4 What Progress Is Being Made Regarding Iranian Sanctions and How Would Progress Impact the GTL
Market?
5.5.5 Iranian GTL Projects
5.6 Rest of the World (RoW) GTL Market Forecast 2014-2024
5.6.1 Rest of the World (RoW) GTL Projects
5.6.2 The Algerian GTL Market
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5. Contents
5.6.3 The Australian GTL Market
5.6.3.1 Australian GTL Drivers & Restraints
5.6.3.2 Previous Australian GTL Proposals
5.6.4 The Malaysian GTL Market
5.6.5 The Nigerian GTL Market
5.6.5.1 What Factors Affect Business and GTL Propositions in Nigeria?
5.6.5.2 What Security Threats in Nigeria Affect the GTL Market?
5.6.5.3 Nigerian GTL Market Drivers & Restraints
5.6.6 The Russian GTL Market
5.6.6.1 Present Russian GTL Proposals
5.6.6.2 Previous Russian GTL Proposals
5.6.7 The Trinidad & Tobago GTL Market
5.6.7.1 Previous Trinidad and Tobago GTL Proposals
5.6.8 The Turkmenistan GTL Market
5.6.9 The Uzbekistan GTL Market
5.6.9.1 Uzbekistan GTL Market Drivers & Restraints
6. Barriers to Entry Analysis of the GTL Market
7. PEST Analysis of the GTL Market
8. Expert Opinion
8.1 Velocys
8.1.1 The Vision of Velocys
8.1.2 The GTL Product
8.1.3 Competitive Advantages of Velocys?
8.1.4 The Arbitrage Opportunity in North America
8.1.5 When Will Smaller-Scale GTL Take Off?
8.1.6 Investment in Smaller-Scale GTL
8.1.7 Smaller-Scale GTL Applications and Opportunities
8.1.8 Fischer-Tropsch versus Methanol-to-Gasoline
8.1.9 Secondary Drivers for Spending on GTL Solutions
8.2 Primus Green Energy
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6. Contents
8.2.1 The Aims of Primus Green Energy
8.2.2 The STG+ Process
8.2.3 Competitive Advantages of STG+
8.2.4 CAPEX Definitions and the GTL Industry
8.2.5 Target Market for GTL Solution Application
8.2.6 Investment in Small-Scale GTL
8.2.7 Barriers to Small-Scale GTL Industry Development
8.2.8 Shell’s Louisiana GTL Plant
8.3 Infra Technology
8.3.1 Infra Technology and the Gas-to-Liquids Market
8.3.2 Infra Technology Product
8.3.3 Challenges Facing Infra Technology and the GTL Industry
8.3.4 The Potential of Methanol-to-Gasoline
8.3.5 Small-Scale GTL versus Large-Scale GTL
8.3.6 Infra Technology GTL Target Market
8.3.7 The Shell Project Cancellation
8.3.8 Stranded Gas and GTL
8.3.9 The Russian Flared Gas Opportunity
8.3.10 GTL From Coal-Bed Methane
9. Leading Companies in the Gas-to-Liquids Market
9.1 Leading Active GTL Market Participants and GTL Liquids Producers
9.1.1 Royal Dutch Shell
9.1.1.1 Analysis of Shell Fundamentals in Relation to the GTL Market
9.1.1.2 Competitors in the Gas-to-Liquids Market
9.1.1.3 Regional Emphasis / Focus
9.1.1.4 Future Outlook
9.1.2 PetroSA Company
9.1.2.1 Analysis of PetroSA Fundamentals in Relation to the GTL Market
9.1.2.2 Competitors in the Gas-to-Liquids Market
9.1.2.3 Regional Emphasis / Focus
9.1.2.4 Recent M&A Activity
9.1.2.5 Future Outlook
9.1.3 Sasol
9.1.3.1 Analysis of Sasol Fundamentals in Relation to the GTL Market
9.1.3.2 Competitors in the Gas-to-Liquids
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7. Contents
9.1.3.3 Regional Emphasis / Focus
9.1.3.4 Future Outlook
9.2 Other Companies in the Large-Scale GTL Market
9.2.1 BP plc
9.2.2 Chevron Corporation
9.2.3 ConocoPhillips Corporation
9.2.4 Davy Process Technology Ltd
9.2.5 EmberClear
9.2.6 Eni S.P.A
9.2.7 ExxonMobil Corporation
9.2.8 G2X Energy
9.2.9 General Electric Company (GE)
9.2.10 GTL.F1
9.2.11 Industrial Development and Renovation Organization of Iran (IDRO)
9.2.12 Marathon Oil Corporation (Marathon)
9.2.13 Narkangan Gas to Liquid International Company (Narkangan)
9.2.14 Petrobras
9.2.15 Petroliam Nasional Berhad (Petronas)
9.2.16 Qatar Petroleum
9.2.17 Rosneft
9.2.18 Toyo Engineering Corporation
9.2.19 Uzbekneftegaz National Holding Company (Uzbekneftegaz)
9.3 Active Small-Scale Gas-to-Liquids Technology Providers
9.3.1 CompactGTL plc
9.3.2 Gas2
9.3.3 Infra Technology
9.3.4 Primus Green Energy
9.3.5 Sundrop Fuels
9.5.6 Velocys
10. Conclusions & Recommendations
10.1 Global Gas-to-Liquids Market Outlook
10.2 Key Findings
11. Glossary
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8. Contents
List of Tables
Table 2.1 Pilot/Semi-Commercial/Research GTL Facilities
Table 3.1 Global GTL Market Drivers & Restraints
Table 3.2 GTL and EU EN590 ULSD Diesel Characteristics (Density, kg/m3, Cetane Number, Poly-aromatics, max
(volume %), Sulphur, max ppm)
Table 3.3 Global GTL CAPEX Market Forecast 2014-2024 ($m, AGR %, CAGR%, Cumulative)
Table 3.4 Global GTL Liquids Production Forecast 2014-2024 (bpd, AGR %, CAGR%)
Table 3.5 Current Commercial GTL Facilities (Output, bpd, CAPEX, $m)
Table 4.1 GTL CAPEX Submarket Forecasts 2014-2024 ($m, AGR)
Table 4.2 Leading Large-Scale GTL Regional and National Market Forecast 2014-2024 ($m, AGR %)
Table 4.3 Large-Scale GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled (Name, Main
Sponsor, Location, Type, Capacity (bpd))
Table 4.4 Large-Scale GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled (Name, Main
Sponsor, Est. Cost, $/bpd Capacity, Earliest Start Date, Status)
Table 4.5 Small-Scale GTL Facility CAPEX Forecast 2014-2024 ($m, AGR %, Cumulative)
Table 4.6 Small-Scale GTL Market Drivers & Restraints
Table 4.7 Small-Scale GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled (Name, Main
Sponsor, Location, Type, Capacity, Est. Cost)
Table 4.8 Small-Scale GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled (Name, Main
Sponsor, $/bpd Capacity, Start Date, Status)
Table 5.1 Leading Large-Scale GTL Regional and National Market Forecast 2014-2024 ($m, AGR %)
Table 5.2 US Large-Scale GTL Market Forecast 2014-2024 ($m, AGR %, CAGR%, Cumulative)
Table 5.3 US GTL Market Drivers & Restraints
Table 5.4 Large-Scale US GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled (Name,
Main Sponsor, Location, Type, Capacity (bpd))
Table 5.5 Large-Scale US GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled (Name,
Main Sponsor, Est. Cost, $/bpd Capacity, Earliest Start Date, Status)
Table 5.6 US Small-Scale GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled (Name,
Main Sponsor, Location, Type, Capacity, Est. Cost)
Table 5.7 US Small-Scale GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled (Name,
Main Sponsor, $/bpd Capacity, Start Date, Status)
Table 5.8 Qatari Large-Scale GTL Market Forecast 2014-2024 ($m, AGR %, CAGR%, Cumulative)
Table 5.9 Qatari GTL Market Drivers & Restraints
Table 5.10 Large-Scale Qatari GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled
(Name, Main Sponsor, Location, Type, Capacity (bpd))
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9. Contents
Table 5.11 Large-Scale Qatari GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled
(Name, Main Sponsor, Est. Cost, $/bpd Capacity, Earliest Start Date, Status)
Table 5.12 Southern Africa Large-Scale GTL Market Forecast 2014-2024 ($m, AGR %, CAGR%, Cumulative)
Table 5.14 Likely Mozambique LNG Export Terminals (Companies Involved, Export Capacity, Estimated Cost ($bn),
Status)
Table 5.15 South Africa GTL Market Drivers & Restraints
Table 5.16 Large-Scale Southern Africa GTL Facilities Under Construction, Planned, With Potential, Presently
Cancelled (Name, Main Sponsor, Location, Type, Capacity (bpd))
Table 5.17 Large-Scale Southern Africa GTL Facilities Under Construction, Planned, With Potential, Presently
Cancelled (Name, Main Sponsor, Est. Cost, $/bpd Capacity, Earliest Start Date, Status)
Table 5.18 Canadian Large-Scale GTL Market Forecast 2014-2024 ($m, AGR %, Cumulative)
Table 5.19 Canadian GTL Market Drivers & Restraints
Table 5.20 Proposed Canadian LNG Export Terminals (Location, Operator/Owner, Capacity, Construction Cost
Table 5.21 Proposed Natural Gas Pipelines for British Columbia (Pipeline Name, Lead Company, Distance, Capacity,
Start Point, End Point)
Table 5.22 Large-Scale GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled (Name,
Main Sponsor, Location, Type, Capacity (bpd))
Table 5.23 Large-Scale GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled (Name,
Main Sponsor, Est. Cost, $/bpd Capacity, Earliest Start Date, Status)
Table 5.24 Iranian Large-Scale GTL Market Forecast 2014-2024 ($m, AGR %, CAGR%, Cumulative)
Table 5.25 Iranian GTL Market Drivers & Restraints
Table 5.26 Iranian Large-Scale GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled
(Name, Main Sponsor, Location, Type, Capacity (bpd))
Table 5.27 Iranian Large-Scale GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled
(Name, Main Sponsor, Est. Cost, $/bpd Capacity, Earliest Start Date, Status)
Table 5.28 Iranian Small-Scale GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled
(Name, Main Sponsor, Location, Type, Capacity, Est. Cost)
Table 5.29 Iranian Small-Scale GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled
(Name, Main Sponsor, $/bpd Capacity, Start Date, Status)
Table 5.30 Rest of the World Large-Scale GTL Market Forecast 2014-2024 ($m, AGR %, CAGR%, Cumulative)
Table 5.31 Large-Scale GTL Facilities in the RoW Under Construction, Planned, With Potential, Presently Cancelled
(Name, Main Sponsor, Location, Type, Capacity (bpd))
Table 5.32 Large-Scale GTL Facilities in the RoW Under Construction, Planned, With Potential, Presently Cancelled
(Name, Main Sponsor, Est. Cost, $/bpd Capacity, Earliest Start Date, Status)
Table 5.33 Australian GTL Market Drivers & Restraints
Table 5.34 Nigeria’s Competitiveness and Corruption Indices
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10. Contents
Table 5.35 Nigerian GTL Market Drivers & Restraints
Table 5.36 Uzbekistan GTL Market Drivers & Restraints
Table 7.1 PEST Analysis of the GTL Market 2014-2024
Table 9.1 Leading 3 Companies (Market Ranking, Total Revenue, GTL Liquids Sales, Market Share %)
Table 9.2 Shell Company Overview 2012 (Total Revenue, GTL Liquids Sales, % Revenue From Market, Global
Market Share %, HQ, Ticker, Contact, Website)
Table 9.3 Shell GTL Facilities Planned & With Potential (Name, Main Sponsor, Location, Type, Capacity (bpd))
Table 9.4 Shell GTL Facilities Planned & With Potential (Name, Main Sponsor, Est. Cost, $/bpd Capacity, Earliest
Start Date, Status)
Table 9.5 PetroSA Company Overview 2012 (Total Revenue, GTL Liquids Sales, % Revenue From Market, Global
Market Share %, HQ, Contact, Website)
Table 9.6 PetroSA GTL Facilities With Potential (Name, Main Sponsor, Location, Type, Capacity (bpd))
Table 9.7 PetroSA GTL Facilities With Potential (Name, Main Sponsor, Est. Cost, $/bpd Capacity, Earliest Start Date,
Status)
Table 9.8 PetroSA Divisions & Products (Division, Product, Details)
Table 9.9 PetroSA Partnerships
Table 9.10 Sasol Company Overview FY2013 (Total Revenue, GTL Liquids Sales, % Revenue From GTL Liquids,
Global GTL Market Share, HQ, Ticker, Contact, Website)
Table 9.11 GTL Relevant Sasol Contracts and Projects (Country, CAPEX in 2013, Details)
Table 9.12 Sasol Divisions & Products (Division, Product, Details)
Table 9.13 Sasol GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled (Name, Main
Sponsor, Location, Type, Capacity (bpd))
Table 9.14 Sasol GTL Facilities Under Construction, Planned, With Potential, Presently Cancelled (Name, Main
Sponsor, Est. Cost, $/bpd Capacity, Earliest Start Date, Status)
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11. Contents
List of Figures
Figure 2.1 Global GTL Market Structure Overview
Figure 2.2 Flaring by Country and Worldwide (bcm), 2007-2012
Figure 2.3 Simplified GTL Process Route
Figure 3.1 Oil to Gas Price Spread (WTI Spot : Henry Hub Spot Ratio), 1997-2013
Figure 3.2 Global Gas Price Comparisons, 1996-2012: Japan cif, UK NBP, US Henry Hub ($/MMBtu)
Figure 3.3 ROI for GTL Given Variable Gas and Oil Price Conditions (Years until ROI, Gas Price, Oil Price)
Figure 3.4 Net Profit for Large-Scale GTL Given Variable Gas and Oil Price Conditions (net Profit, Gas Price, Oil
Price)
Figure 3.5 Global GTL CAPEX Market Forecast 2014-2024 ($m, AGR%)
Figure 3.6 Global GTL Liquids Production Forecast 2014-2024 (bpd, AGR %)
Figure 3.7 Global GTL Liquids Sales Forecast 2014-2024 ($m, AGR %)
Figure 4.1 GTL CAPEX Submarket Forecasts 2014-2024 ($m, AGR%)
Figure 4.2 GTL CAPEX Submarkets Share Forecast 2014 (%)
Figure 4.3 GTL CAPEX Submarkets Share Forecast 2019 (%)
Figure 4.4 GTL CAPEX Submarkets Share Forecast 2024 (%)
Figure 4.5 GTL CAPEX Submarkets Market Share Change 2014-2024 (%)
Figure 4.6 GTL CAPEX Submarkets Market CAGRs, 2014-2024, 2014-2019, 2019-2024 (%)
Figure 4.7 Large-Scale GTL Market Forecast 2014-2024 ($m, AGR %)
Figure 4.8 Small-Scale GTL Market Forecast 2014-2024 ($m, AGR%)
Figure 4.9 Flaring by Country and Worldwide (bcm), 2007-2012
Figure 4.10 Bakken and Eagle Ford Formation Flaring
Figure 5.1 Leading Large-Scale GTL Regional and National Market Forecasts 2014-2024 ($m)
Figure 5.2 Leading Large-Scale GTL Regional and National Market Forecasts 2014-2024 ($m)
Figure 5.3 Leading Regional and National GTL Markets Share Forecast 2014 (%)
Figure 5.4 Leading Regional and National GTL Markets Share Forecast 2019 (%)
Figure 5.5 Leading Regional and National GTL Markets Share Forecast 2024 (%)
Figure 5.6 Leading Regional and National GTL Market Share Change
Figure 5.7 Cumulative CAPEX for Each Leading Regional/National GTL Market, 2014-2024 ($m, %)
Figure 5.8 US Large-Scale GTL Market Forecast 2014-2024 ($m, AGR%)
Figure 5.9 US Large-Scale GTL Market Share Forecast 2014, 2019 and 2024 (% Share)
Figure 5.10 US Motor Gasoline, Jet Fuel and Distillate Fuel (Diesel) Consumption Forecast, 2012-2015
Figure 5.11 US Average Fuel Economy Standards for New Vehicles Purchased in the US (Forecast Based on Historic
Trend 2007-2012), 2007-2017 (MPG)
Figure 5.12 US Licensed Drivers as a Percentage of Age-Group Population, 1983 vs. 2008
Figure 5.13 US LNG Export Terminals Currently Proposed (Name, Location, Sponsor)
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Eagle Ford

12. Contents
Figure 5.14 Qatari Large-Scale GTL Market Forecast 2014-2024 ($m, AGR%)
Figure 5.15 Qatari Large-Scale GTL Market Share Forecast 2014, 2019 and 2024 (% Share)
Figure 5.16 North Field, Qatar
Figure 5.17 Qatari Natural Gas Exports, Consumption and Production, 2008-2012 (bcfd)
Figure 5.18 Qatari Oil Exports, Consumption and Production, 2008-2012 (1000s bpd)
Figure 5.19 Southern Africa Large-Scale GTL Market Forecast 2014-2024 ($m, AGR%)
Figure 5.20 Southern Africa Large-Scale GTL Market Share Forecast 2014, 2019 and 2024 (% Share)
Figure 5.21 Estimated Natural Gas Reserves in US, Canada, Australia, Tanzania and Mozambique (tcf)
Figure 5.22 Petroleum Consumption South Africa & Mozambique, 2000-2012 (Thousand bpd)
Figure 5.23 Canadian Large-Scale GTL Market Forecast 2014-2024 ($m, AGR%)
Figure 5.24 Canadian Large-Scale GTL Market Share Forecast 2014, 2019 and 2024 (% Share)
Figure 5.25 WCS vs. AECO Ratio (WCS 1 : x AECO), 2010-2013
Figure 5.26 Iranian Large-Scale GTL Market Forecast 2014-2024 ($m, AGR%)
Figure 5.27 Iranian Large-Scale GTL Market Share Forecast 2014, 2019 and 2024 (% Share)
Figure 5.28 Rest of the World Large-Scale GTL Market Forecast 2014-2024 ($m, AGR%)
Figure 5.29 Rest of the World Large-Scale GTL Market Share Forecast 2014, 2019 and 2024 (% Share)
Figure 5.30 Australian Oil Production vs. Petroleum Consumption 2000-2012 (Thousand bpd)
Figure 5.31 Central Asian Gas Pipelines
Figure 6.1 Barriers to Entry vs. Market Size 2014 vs. CAGR% ($m, CAGR%)
Figure 9.1 Leading 3 Companies in the GTL Market, Market Share by GTL Liquids Sales 2013 (GTL Liquids Sales $m,
Market Share %)
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13. Contents
Companies Mentioned in this Report
ABN Amro
Advantica Ltd
AK Natural Gas to Liquids (AKNGTL)
Anadarko
Apache
Arrow Energy
Axens
Baard Energy
Barca LNG
Bayer Technology Services
BBHP Billiton
BC LNG Export Cooperative LLC
BCG Projectos
Bechtel
BG Group
Botswana Oil
BP
BPRL
British Gas
Cairn India
Calumet Speciality Product Partners
Cambridge Energy (CE)
Central Petroleum
Cheniere
Chevron
Chevron Australia
Chevron Canada
Chevron Nigeria Ltd (CNL)
Chevron Phillips Chemical Company
Citroen
Cohydro Sarl
CompactGTL
ConocoPhillips
Cove Energy
Davy Process Technology
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14. Contents
Dominion
Dow Chemical Company
Drake Oil
EmberClear
Encana
Energy Industrial Engineering & Design Co
ENH
ENI
EOS LNG
Euroil
Excelerate
ExxonMobil
Fateh Sanata Kimia (FSK)
Flour
Forest Oil
Franklin Mining
Freeport LNG
Fugro Robertson
G2X Energy
Gas2
Gasfin Development
Gasnor AS
Gazprom
Gazprom Neft
Gazprom VNIIGAS
Gazprombank
GE Energy
General Electric Company
Gigamethanal BV
GTL Bolivia
GTL.F1
Gulf Coast LNG Export
Gulf LNG Liquefaction
Haisla
Haldor Topsoe
Hess Corporation
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15. Contents
Hillcrest Resources
IFP Energies Nouvelles
Incitec
Indian Oil
Infra Technology
Ivanhoe
Japan Oil, Gas and Metals Corporation (JOGMEC)
Japex
Jindal Steel
Johnson Matthey
Jordan Cove LNG
Juniper GTL
Kawasaki Heavy Industries
Korea Gas Corporation
Korea National Oil Company
Kupec
Lanzatech
Linc Energy
LNG Partners LLC
Lurgi
LyondellBasell
Magnolia LNG
Marathon Oil Corporation
Marcellus GTL
MDC Capital
Mercedes Benz
Merichem
Mitsubishi Corporation
Mitsui
MODEC, Inc
Narkangan GTL International Company
National Iranian Oil Company (NOIC)
National Petrochemical Company (NPC)
Nerd Gas Company
Nigerian National Petroleum Company (NNPC)
Nippon GTL
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16. Contents
OAO Novatech
Oltin Yo’l
Oregon LNG
Oxford Catalysts Group (including Velocys)
Pacific GTL
Pacific Power Partners
Pangea LNG
PDVSA
PEMEX
Pertamina
Petrobras
PetroChina
Petrofac
PetroMoc
Petronas
PetroSA
Petrotrin (Petroleum Company of Trinidad and Tobago)
Peugeot
Pieridae Energy Canada Ltd
Pinto Energy
Planck Trading
PriceWaterhouseCoopers
Primus Green Energy
Progress Energy
PTT Thailand
Qatar International Petroleum Marketing Company Ltd. (Taweeq)
Qatar Petroleum
REEMA International
Rentech
Repsol
Rosneft
Sabine Pass Liquefaction
Sabre Oil and Gas Holdings
Santos
Sarv Oil and Gas
Sasol
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17. Contents
Sasol Canada
Sasol Chevron
Sasol Synfuels International (Pty) Limited
SBM Offshore
Sempra
SGC Energia
Shell
Shell Canada
Sibur
Sicor Inc
Sinopec
SK Engineering
Sonatrach
Southern LNG
Southern Union
Spectra Energy
Statoil
Sumitomo Precision Products
Sundrop Fuels
Synergy Technologies, Inc
Synfuels International
Syntroleum Corporation
Talisman Energy
Technip
Texaco
Toyo Engineering Corporation
Transcanada
Tyson Foods
Uzbekneftegaz
Velocys
Ventech Engineers International
Venture Global
Waller LNG Services
Westlake Chemical
World GTL
World GTL Trinidad Limited
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18. Contents
Yakutgazprom
YPFB
Government Agencies and Other Organisations Mentioned in This
Report
Boko Haram
CIS – Commonwealth of Independent States
CSIRO – Commonwealth Scientific and Industrial Research Organisation
EIA – Energy Information Administration
EU – European Union
FERC – Federal Energy Regulation Commission
Geoscience Australia
Human Rights Watch
Industrial Development and Renovation Organisation of Iran (IDRO)
MEND – Movement for the Emancipation of the Niger Delta
MIT – Massachusetts Institute of Technology
NDV – Niger Delta Vigilante
NOAA – National Oceanic and Atmospheric Administration (NOAA)
OPEC – Organisation of Petroleum Exporting Nations
Paul Scherrer Institut
Russian Academy of Sciences
SAPIA – South African Petroleum Industry Association
Transparency International
UN – United Nations
University of Michigan Transportation Research Institute
University of St. Andrews
US Department of Energy
US Energy Information Agency
World Bank
World Economic Forum
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19. Gas to Liquids (GTL) Market Forecast 2014-2024:
What Are The Future Prospects for Companies in
this Major XTL Segment?
5.5 Iranian GTL Market Forecast 2014-2024
Tables 5.24 and Figures 5.26 and 5.27 display the size and forecast of the Large-Scale Iranian
Gas-to-Liquids market over the next ten years.
Table 5.24 Iranian Large-Scale GTL Market Forecast 2014-2024 ($m, AGR %,
CAGR%, Cumulative)
2013 2014
0.0
2015 2016 2017 2018
2019 2020
2021
2022
2023
2024 2014-24
0.0
0.0
0.0
0.0 340.0 340.0 340.0 340.0 1,108.0 1,108.0 1,108.0 4,684.0
0.0
CAPEX ($m)
AGR (%)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
225.9
0.0
0.0
21.8
CAGR (%) 2018-2024
Source: Visiongain 2014
Figure 5.26 Iranian Large-Scale GTL Market Forecast 2014-2024 ($m, AGR%)
1,200
250%
1,000
200%
150%
AGR (%)
CAPEX ($m)
800
600
100%
400
50%
200
0%
0
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Year
Source: Visiongain 2014
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Page 136

20. Gas to Liquids (GTL) Market Forecast 2014-2024:
What Are The Future Prospects for Companies in
this Major XTL Segment?
Table 5.27 Iranian Large-Scale GTL Facilities Under Construction, Planned, With
Potential, Presently Cancelled (Name, Main Sponsor, Est. Cost, $/bpd Capacity,
Earliest Start Date, Status)
Name
Main Sponsor
Shiraz GTL
Narkangan GTL
15 GTL Permits Various Iranian Companies
Est.
Cost
($m)
$/bpd
Earliest Status
Capacity Start
Date
850
68,000
2019
No information since
2012. Sanctions
dependent.
Fundamentals very
good.
10,200
68,000
2020
15 Permits Awarded
circa 2011. Need
technology exchange
- sanctions
dependent
Abbasabad
IDRO
1,000
100,000
2020
MOU 2012: Scale Up
1000 bpd Pilot Plant
(Timeframe
Unknown)
-
IDRO/Unknown Private
Partner
1,000
100,000
2020
MOU 2012
(Timeframe
Unknown)
South Pars
Shell / NPC
4,000
53,333
-
Sasol / NPC
-
-
-
Statoil / NIOC
-
-
Source: Visiongain 2014
Table 5.28 Iranian Small-Scale GTL Facilities Under Construction, Planned, With
Potential, Presently Cancelled (Name, Main Sponsor, Location, Type, Capacity, Est.
Cost)
Name
Main Sponsor
Location
Type
Dehloran GTL (Two
Mini Plants)
Energy Industrial
Engineering & Design
Co
Iran
Unknown
Capacity
(bpd)
1,238
Est. Cost
($m)
124
Source: Visiongain 2014
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Page 142

21. Gas to Liquids (GTL) Market Forecast 2014-2024:
What Are The Future Prospects for Companies in
this Major XTL Segment?
8. Expert Opinion
8.1 Velocys
Dr Neville Hargreaves is Business Development Director at Velocys. He previously spent 12 years
working for Esso/Exxon in technical, commercial and management roles, and is a Fellow of the
Royal Society of Chemistry. Dr Hargreaves was interviewed by visiongain in January 2014, and
visiongain would like to thank him for his insightful remarks.
Velocys is a leading innovator in clean synthetic fuel production and a provider of smaller-scale
GTL solutions. The Fischer-Tropsch (FT) technology marketed by the company can also be utilised
for the production of hydrocarbon liquids from biomass (BTL). As of September 2013, Oxford
Catalysts Group plc changed its name to Velocys plc.
8.1.1 The Vision of Velocys
Visiongain: How would you describe the Velocys vision?
Neville Hargreaves: Our vision is to make smaller scale gas-to-liquids a reality. Velocys is
pioneering a new industry: the distributed production of fuels and chemicals through smaller-scale
GTL. We aim to move GTL from a practice that is only done in Qatar and a few other special
places to something that can occur in any place where a reasonable amount of gas is present.
Our modular systems enable this, and are based on technology that is much smaller than that of
conventional facilities. Our efforts are all about building modular GTL plants that cost effectively
monetise smaller resources of gas – and other feedstocks – than has been the case with
conventional GTL facilities.
Visiongain: What are your aims for the next 24 months?
Neville Hargreaves: Getting our first commercial plants committed and built. We believe that a
project commitment is very close – a matter of months. We have shown that we are in a strong
and advantageous position in the market because we have been selected for a number of projects
(four announced by the end of 2013), but the fact remains that no-one has yet committed to a
smaller-scale GTL project – with us or anybody else.
We, and the whole industry, are striving to change that situation, and what we have in the pipeline
gives us confidence that Velocys will be there very soon.
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Page 167