bahrain floating lng import terminal
Service Type: Commercial and Technical Advisory
Client: National Oil & Gas Authority of Bahrain
Galway was appointed as the lead commercial and technical adviser for the Bahrain floating LNG import Project. Our involvement included:
Assessed the floating LNG import solutions and selected the concept of FSU + Jetty-based configuration
Developed a commercial strategy and solicited proposals from engineering companies to perform Pre-FEED studies to confirm the preliminary technical solution
Managed and supervised the completion of the FEED study and technical evaluation of BOOT bids received to build, finance and operate the terminal
Provided project management services, including management of technical consultant and completion of engineering studies
Supported successful execution of project development agreements
Currently, Galway is involved in project oversight, integration of the terminal with downstream infrastructure, establishment of standalone gas company, advising Bahrain’s overall gas price policy and establishing LNG procurement strategy
Philippines LNG Import Terminal
Service Type: Pre-Feasibility Study
Client: Philippines-based Investment Corporation
Galway was appointed to complete a Pre-Feasibility study for LNG import terminal in Philippines. Our involvement included:
Conducted terminal capacity assessment along with demand estimation for gas from existing power plants
Carried out siting and configuration study for proposed locations
Assessed various floating regasification configurations to determine the most optimal and cost-effective option (FSRU vs FSU, FSU + FRU vs. FSU + land-based terminal)
Provided import terminal concept basis to facilitate downstream development plans with a timeline for development, construction, and implementation of project
Developed an integrated economic model to determine the delivered LNG price to power plants
Proposed realistic procurement portfolio options (i.e. long term vs. short term vs. spot cargoes, FOB vs. DES etc.) with suppliers identified
Global FSRU: Commercial and Strategic Assessment for lng import
Service Type: Commercial and Strategic Assessment
Client: Japan Utility Company
Galway Group has completed an assessment of market entry strategies in the Floating Storage and Regasification (FSRU) sector, including:
LNG import terminals market outlook
LNG demand & supply balance
Drivers for land-based vs. floating/FSRU solutions which included commercial and technical considerations, comparison of costs and developers’ selection criteria
Evaluation of key FSRU players and their strategies
Client’s SWOT analysis, for input to appropriate market positioning and value proposition strategy
Business models and contract structures underlying FSRU projects, including risk identification and mitigation
Review of key contractual terms associated with FSRU lease
Screening and identification of potential FSRU project opportunities, development of bespoke entry strategies and assessment of strategic partnerships
U.S. LNG Export projects (Multiple)
Service Type: Due Diligence Review
Client: Japanese Trading Company
Galway performed a Due Diligence review on a variety of existing and proposed LNG export terminals on the US Gulf Coast from a technical, operational and commercial standpoint. Our involvement included:
Provision of strategic and commercial advice regarding the potential participation in the US-based LNG liquefaction export projects
Due Diligence review respective to a selection of the most feasible LNG liquefaction project for potential capacity off take, including a review of technical aspects
Provided advice on the ways to maximize the value of the LNG terminal capacity by considering market and technical implications
Assisted in negotiations with respect to feed stock supplies, as well as securing pipeline capacity on existing and new gas pipelines to be constructed to facilitate delivery of feed stock gas to the export plant
Negotiation of the Terminal Use Agreement (TUA)
u.s. lng export projects
Service Type: Strategic and Commercial Advisory
Client: Japanese Trading Company
Galway provided strategic and commercial advice regarding Client’s participation in US-based LNG liquefaction export projects, advised and assisted in negotiations with respect to feed stock supplies for LNG export projects, as well as secured pipeline capacity in existing and new gas pipelines to be constructed in order to facilitate delivery of feed stock gas to the export plants.
Galway is continuing to provide long term strategic and commercial advice regarding Client’s existing capacity in the chosen LNG export projects, advising and assisting in negotiations with respect to feed-gas supplies, as well as securing pipeline capacity on existing and new gas pipelines to be constructed in order to facilitate delivery of feed stock gas to the export plants.
LNG Arbitration support (Payments)
Service Type: Royalty Negotiations
Client: Major O&G Company
As an expert witness, Galway successfully supported Major O&G Company in its arbitration case over LNG royalty payments which were tied to LNG prices in the executed LNG SPA. Galway support included a written report with expert opinion, extensive and ongoing support to Client’s legal representatives, and in-person testimony at the Arbitration hearings.
LNG Arbitration support (Pricing)
Service Type: Expert Witness
Client: Major O&G Company
Galway provided an expert witness support in a Project Arbitration for a Major O&G Company, providing views and conclusions on pricing issues in the LNG industry with emphasis on the basis of LNG price as it relates to cancellation of the gas processing plant project agreements in Algeria.
Singapore Power Asset Acquisition
Service Type: Commercial Due Diligence Review
Client: Confidential Asia Client
Galway has assisted the Client with a completion of pre-acquisition Commercial Due Diligence. Our involvement included:
Overview of Singapore power market, covering expected demand, plant capacity, new-build plans and regulatory issues
Evaluated commodity indexation and pricing structures, source and terms of existing gas supply contracts
Provided fuel pricing forecasts for Brent, Fuel Oil, Diesel and spot LNG
Conducted power dispatch model simulations to forecast expected dispatch volumes and fuel consumption, using linear programming such that the whole power generation system was balanced on a least cost basis
Determined relative market position and competitiveness of target asset by analyzing model output on expected merit order and load factor, forecasted wholesale power price and cost of delivered gas
Conducted sensitivity and scenario analyses to assess impact of fuel prices, new build schedule and reserve margin adjustments
Bangladesh Gas to Power Project
Service Type: Energy Mix and Gas Allocation Forecast
Client: Major Japanese integrated trading and investment business conglomerate
Galway has undertaken a forecast of power demand in Bangladesh and predicted a generation mix in the country, by conducting power dispatch analyses (optimizing merit order of loads).
Galway also provided detailed gas market outlook for Bangladesh, based on supply-demand and allocation analyses.
North America E&P Basin assessment
Service Type: Evaluation of US Shale Gas Basins for Farm-in Potential
Client: French Multinational Utility Company
Location: North America
Galway completed evaluations of various shale gas basins for the purpose of identifying potential (and suitable) farm-in opportunities. Galway carried out geological evaluations and thereafter developed a risk-adjusted valuation model for six basins, which were high-graded as being amongst the most economic.
Following discussions with basin operators, Marcellus/Utica basin was selected. Galway represented the client in negotiations of farm-in to the relevant leases, including a risk sharing deal structure.
north america e&P M&A
Service Type: Divestiture of Oil and Gas Assets
Client: U.S. Energy Company
Location: North America
Galway represented the client in its sale of US onshore conventional oil and gas leases. The properties included operating and E&P assets. Galway carried out reserve evaluations and thereafter developed a risk-adjusted valuation model for the properties.
Galway represented the client through to final sale negotiations which led to a successful closure valued at 150 MUSD.