Belgium Oil and Gas Report

 Published On: Jun, 2016 |    No of Pages: 67 |  Published By: BMI Oil and Gas | Format: PDF
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BMI View: With no upstream prospects, Belgium will remain heavily reliant on imported supplies of both liquids and gas. Natural gas consumption will be weak due growing nuclear and renewable generation inthe power sector. Meanwhile, the refining sector will perform well as efficiency improvements and low oilprices increase the competitiveness of its downstream facilities.The main trends and developments in Belgium's oil and gas sector are:
-Ongoing industrial action in France will increase Belgian fuels exports to the country to help replenish stocks. However, an over supplied market will not provide significant opportunities over the next severalmonths.
-Low oil prices and high refining margins has seen greater throughput at Belgium's three Antwerp refineries in H214 and H115. We caution that narrowing refining margins will weigh on this over thecoming year.
-Modernisation of Total's Antwerp complex is expected to be completed this year, increasing output of cleaner-burning fuels that align with EU regulations. This will not, however, expand overall capacity over the next year.
-Planned maintenance at the Inter connector pipeline between the UK and Belgium will limit imports from the UK over the summer months, this will increase supplies from Norway as the Netherlands contends with falling domestic production.
-In May 2015, Yamal LNG signed a contract with Fluxys LNG of Belgium to use the facility at Zeebrugge as a tran shipment hub. A fifth storage tank and new loading and unloading capacity will beadded.
-LNG imports increased marginally through Q315 on the back of lower prices, though the restart of the nuclear facilities reduced this considerably by the end of the year. We expect this trend will remain inplace over 2016, with Belgium's LNG terminals utilised well below capacity.
BMI Industry View ....... 7
Table: Headline Forecasts (Belgium 2014-2020) . 7
SWOT .... 9
Oil & Gas SWOT ....... 9
Industry Forecast ...... 10
Upstream Exploration ...... 10
Latest Updates ....... 10
Structural Trends ... 10
Upstream Production - Oil 11
Latest Updates ....... 11
Structural Trends ... 11
Table: Oil Production (Belgium 2014-2019) . . . . . 11
Table: Oil Production (Belgium 2020-2025) . . . . . 11
Refining . 12
Latest Updates ....... 12
Structural Trends ... 12
Table: Refining Capacity and Refined Products Production (Belgium 2014-2019) . 14
Table: Refining Capacity and Refined Products Production (Belgium 2020-2025) . 14
Refined Fuels Consumption ....... 14
Latest Updates ....... 14
Structural Trends ... 14
Table: Refined Products Consumption (Belgium 2014-2019)15
Table: Refined Products Consumption (Belgium 2020-2025)16
Gas Consumption .... 16
Latest Updates ....... 16
Structural Trends ... 16
Table: Gas Consumption (Belgium 2014-2019) . . 18
Table: Gas Consumption (2020-2025) 18
Trade - Oil ..... 18
Crude Oil ..... 18
Latest Updates ....... 18
Structural Trends ... 18
Table: Crude Oil Net Exports (Belgium 2014-2019) . . . 19
Table: Crude Oil Net Exports (Belgium 2020-2025) . . . 20
Refined Products .... 20
Latest Updates ....... 20
Structural Trends ... 20
Table: Refined Fuels Net Exports (Belgium 2014-2019). . . . . 21
Table: Refined Fuels Net Exports (Belgium 2020-2025). . . . . 22
Trade - Gas (Pipeline And LNG) 22
Latest Updates ....... 22
Structural Trends ... 22
Table: Gas Net Exports (Belgium 2014-2019) . . . . 24
Table: Gas Net Exports (Belgium 2020-2025) . . . . 25
Industry Risk Reward Index ..... 26
North America And Western Europe Oil & Gas Risk/Reward Index ... 26
Table: North America & Western Europe Oil & Gas Risk/Reward Index . . . . . 26
Upstream Rankings: North America To Maintain The Lead .... 27
North America: US Unconventional Production Leads Decline ....... 27
Western Europe Languishes In Maturing Assets ... 28
Table: North America & Western Europe Upstream Risk/Reward Index, out of 100 30
Downstream Rankings: US Widens Its Lead 30
Table: North America & Western Europe Downstream Risk/Reward Index . . . 32
Belgium - Risk/Reward Index ..... 33
Upstream RRI - Overview 33
Downstream RRI - Overview .... 33
Market Overview ....... 34
Belgium Energy Market Overview ....... 34
Overview/State Role ....... 35
Licensing And Regulation 35
Government Policy . 35
Oil And Gas Infrastructure 36
Oil Refineries 36
Table: Refineries In Belgium . . . 36
Service Stations ..... 36
Oil Storage Facilities ...... 37
Oil Terminals/Ports 37
Oil Pipelines . 37
LNG Terminals ...... 37
Gas Storage Facilities ..... 37
Gas Pipelines 38
Competitive Landscape .... 39
Competitive Landscape Summary ...... 39
Table: Key Players - Belgium Oil & Gas Sector . 40
Table: Key Downstream Players . . . . . 41
Company Profile 42
ExxonMobil .... 42
Latest Updates ....... 42
Table: Major Assets in Belgium 43
Table: Key Financial Metrics, USDmn . . . . . 43
Total ..... 45
Latest Updates ....... 45
Table: Major Assets In Belgium 46
Table: Key Financial Data, USDmn . . 46
Regional Overview .... 48
North America And Western Europe Oil And Gas Regional Overview 48
Table: North America - Key Regional Indicators, 2014-202557
Table: Western Europe - Key Regional Indicators, 2014-2025 . . . . 59
Glossary ..... 60
Table: Glossary Of Terms 60
Methodology ...... 62
Industry Forecast Methodology 62
Source . 64
Risk/Reward Index Methodology ....... 64
Table: Bmi's Oil & Gas Upstream Risk/Reward Index . 66
Table: Weighting . . . 67
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