30^ Annual Coordinating Meeting of Entity Stockholders “ The new fuel in compliance with the IMO 2020 global sulphur cap” Franco Del Manso – UNIONE PETROLIFERA 10th September 2019 – Rome, Italy
Unione Petrolifera – Italian Oil Industry Association unionepetrolifera.it 2 UNIONE PETROLIFERA
Italian refining system unionepetrolifera.it 3 unionepetrolifera.it
Logistic infrastructures – Main depots and terminals Depots and terminals of petroleum products (including lubricants) and bio, both fiscal and commercial, with a capacity above 3000 m 3 (Unione Petrolifera members only) Many others depots and terminals are owned by non member companies 4 unionepetrolifera.it unionepetrolifera.it unionepetrolifera.it
New IMO bunker fuel 0,5% max. sulphur content Re Refining ining industr try approach ch: Th The ref refini ining ng ind indus ustr try wil will sup supply ply the the IMO MO bunk unker er with with a num umber ber of of alte alternativ rnatives es - Marin arine diesel, diesel, heavy avy distil tillat lates, es, residual dual fuel oil Each refin iner ery will make av availa lable ble the fuel on on the basis of of its present ent configu iguratio ation No No new plants ts are planned ed by by 2020 20, specif cificall ically designed gned for these fuels unionepetrolifera.it 5 UNIONE PETROLIFERA
Evolution of World bunker fuels demand Based on the latest news on scrubber installations and LNG development, the 2020 world bunker fuels market can be estimated as follow: Marine bunker fuels 2017 2020 Marine diesel MGO 40 – 50 Mton 40 - 50 Mton 0,1 % sulphur Marine diesel MGO 30 – 40 Mton - > 0,1 % sulphur 6 – 8 Mton LNG 10 - 15 Mton Bunker IFO 380/IFO 180 60 - 80 Mton 150 - 160 Mton 3,5% sulphur (partially scrubbed) Bunker IMO - 150 - 200 Mton 0,5% sulphur unionepetrolifera.it 6 UNIONE PETROLIFERA
Italian marine fuels market Th The It Itali alian ma marine rine bun unker er mark arket et in in 20 2018 18 was was about bout 3.2 mi mill llion ion tons, ns, of of which hich ar around und 470,000 000 tons were distil tillates lates Th The mos ost releva elevant nt por orts ts in in this his mark arket et are are Genoa, Genoa, Livo Livorno rno, Ci Civit vitavecc vecchia, hia, Nap aples, les, Augusta, a, Venice and and Tries este te. Till ll 2020 20 this bunker market config igura uration tion will not change unionepetrolifera.it 7 UNIONE PETROLIFERA
New IMO bunker fuel 0,5% max. sulphur content – Italian situation Our 2020 20 forecas cast sees the bunker consumptio ption grow to to 3.3 Mton. Ships ps equipped pped with scrubber bers or or powered ed by by LNG will ll continu inue to to be be margina nal Th Theref erefor ore large arge quantities quantities of of bunk unker er fuel uel wit with 0.5% sulf ulfur ur wil will hav ave to to be be ma made de ava vail ilable ble in in all all national onal ports nex ext yea year Marine ine bunk nker er fuels 2018 2020 2020 2025 2025 2030 2030 (kton on) Marine ine diesel el and d Bunker er 474 2960 2960 2950 2950 3050 3050 0,5% % sulphur phur Bunker er 3,5% 5% sulphur phur 2.708 08 300 300 500 500 500 500 LNG LNG - - 200 200 400 400 TOTAL AL 3.260 60 3.650 50 3.950 50 3.182 82 unionepetrolifera.it 8 UNIONE PETROLIFERA
Logistics implications Based ased on on the he IM IMO deci decisi sion, on, the the swi switc tch fr from om hig high sulf sulfur ur to to low low sulfur ulfur wil will hav ave to to tak ake pl place ce over vernight night. All ope All perator ators wil will prepare repare the hems mselves elves ad adequa equately tely but ut th the im implicati plication ons both both in in ter terms ms of of logis logistics tics an and distrib tributio ution will be be consi sider erable ble Th The sim simult ultan aneou ous presence resence of of th three ee pr products ducts (0.1%, 0.5% and nd 3.5%) wil will imp impose ose additiona additional in inve vestm tment ents in in lo logis gistics tics bot both to to accom ccommod modate ate all all three hree products oducts in in coas oastal al deposi eposits ts and nd to to ensur nsure the import/e /expo xport operation tions unionepetrolifera.it 9 UNIONE PETROLIFERA
Quality problems to address on IMO bunker fuels CE CE Delf lft stud tudy found und there ere wouldn’t be be shor ortages ges of of IMO bun unker er fuel els glob oball lly Anywa yway, fuel el formula mulati tion ons proje ojected cted by by CE CE Delf lft va vary wid idely ely acr cross oss World ld Re Regions ions This is coul uld lea ead to to the foll llowi owing issues sues: Wide va variati tion in in fuel pre-heat temper erature ture prior or to to injecti ction when using fuel deliveri veries es with va varyi ying viscositi sities es Risk of of incompati tibili lity ty - In In many cases it it would not be be advisable le for ships to to commin mingl gle fuels from differe erent regions ons unionepetrolifera.it 10 UNIONE PETROLIFERA
The ISO activities on IMO bunker fuel specifications ISO TC TC28 28 SC SC4 WG WG6 is is in in charge to to deve evelop the new ISO 8217 Specif ifica ication tion on on IMO bunker fuel Due ue the he time time cons onstr traint aint to to adopt dopt a new new IS ISO 82 8217, WG WG6 agreed agreed to to develop develop a PAS AS (P (Pub ubli licly cly Av Avail ailable ble Sp Specif ecificatio ication – IS ISO PAS AS 23263 23263) to to prov ovid ide wit with a qu qualit ality ref eference erence by by 2020 2020. The PAS AS has has been been approved oved by by ISO in in July and and will ll be be publis ished hed in in Septemb ember er this yea year IS ISO PAS AS 23 23263 263 sha hall ll be be use used in in co conjunct njunction on wit with IS ISO 82 8217:20 2017 which hich cov over ers marine arine fuel uel oil oils delive elivered red to to the he mar market et toda oday inclu includin ding 0.10 10 % S fuel fuel oils, oils, hi high gher S fuel fuel oils oils, as as well well as as 0.50 50 % S fu fuel el oils. The PAS will ll not introduce oduce new specif ifica ication tions nor an an additio tiona nal table le for 0.50 50 % S fuels. Th The PAS AS wil will pr provi vide de ge gener neral al consi consider deratio ations ns that that appl apply to to all all 0.50 50 % S fuels, els, incl includ uding ing S co content ntent and and flash ash point, oint, and nd techni echnical cal asp aspects ects on on ki kinem nematic atic viscosit viscosity, col cold flow low pr proper operties, ties, ig ignitio nition characte cteristi ristics, s, catalys lyst fines, es, and and stability ility that might apply to to specif ific ic fuels. unionepetrolifera.it 11 UNIONE PETROLIFERA
Joint Industry Project – Guidance on the technical and safety implications of the new 0.50% S fuels Section ion 1: Guidanc dance on on fuel charact cteris risti tics cs and and prope operties ties Th This sec secti tion un underl rlines es the he imp mportance ance to to un understand nd th the char harac acteri eristi tics cs of of the he fuel uel as as suppl upplied. Inf nformat rmation on is is provided ovided on on th the pot otent ential al va vari riability ty of of max max. 0.50 50%-sul sulphur ur fu fuel els and nd on on key key fu fuel el prope operties ties: col old flow ow prop operti ties es, stability ty, vis viscos osity ty, acid nu numb mber er, flash shpoint, oint, igniti gnition quality ty and and catalyst fines. Section ion 2: Guidanc dance on on the suppl ply of of max. 0.50 50%-sulph ulphur ur fuels Des Descr cribes es the the ne need ed for fuel uel suppl upplier ers to to hav have in in place ce a robust Qua uality ty Ma Mana nageme gement Sy System em to to control ol the the quality ty of of the the blend stocks used Section ion 3: Guidanc dance on on the storag age, e, handling ndling and and safe use of of 0.50 50% S fuels Th This se sect ction on provi ovides es inf nformat rmation on on pot otential ntial fue fuel-relat related sa safe fety ty and nd oper erat ationa onal iss ssues, ues, and nd meas me asures res th they ey can an take ake to to preve event nt an and mi miti tigat ate su such iss ssues ues. Pr Provi ovides es al also guidanc guidance on on unaccep eptable fuels, s, off specifica cation fuels and and non non-co comp mpliant nt fuels unionepetrolifera.it 12 UNIONE PETROLIFERA
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