JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 47

awards

Fig. 3: This TITAN™ 4 module is a 12m ISO 1496 certified shipping container, which contains four TITAN™
tanks, weighs only 15,700kg unpressurized, and can be transported via rail, truck or ship

A word on recent developments in
the global market for oil
The recent drop in the price of oil to less
than half of where it was one year ago
resulted in at least two significant effects.
Firstly, according to Baker Hughes' worldwide rig count, the number of active oil rigs
dropped by 19% from a worldwide total
peak of 3,670 in October of 2014 to 2,986
in February 2015. By early March 2015,
the US had lost more than a third of its oil
rigs since October 2014 as the collapse in
crude prices squeezed drillers' profits and
threatened to end the shale boom. Based
on previous cycles of the industry, one can
expect a further decline of at least the same
proportion before production levels out.
Therefore, opportunities for growth of the
composite market in rig construction are
likely to be limited in the short term.
Secondly, with oil around $50/barrel,
only two sources of production are still
profitable: onshore Middle East, with an
average production cost of some $27/
barrel, and offshore shelf with an average
production cost of 41$/barrel, according
to Rystad Energy & Morgan Stanley in
May 2014. These cost estimates are based
on an average Brent equivalent break-even
cost. Onshore production in the rest of
the world including Russia stands at an
estimated production cost of $50-51/barrel
and offshore at $52-56/barrel, depending

on the depth. Oil cost from US shale is
estimated at $65/barrel.
The current glut situation is based on a
combination of weak global demand for oil
coupled to oversupply, with US production
having grown strongly. There are divided
opinions on how long the current low oil
price situation will last but we have rarely
seen smooth price evolutions in this sector and when the next upturn comes, the
wells where drilling has recently stopped,
especially offshore, are likely to see a strong
come-back.

New opportunities: the growth
of compressed natural gas as an
alternative fuel
In the meantime, the fast development,
availability and price of shale gas in the
United States have led to growth in the
penetration of compressed natural gas as a
fuel for transportation, particularly for heavy
trucks. This demand has led to the development of truck conversion or OEM-installed
CNG fuel systems based on so-called Type
IV carbon fibre/epoxy filament-wound
pressure vessels. The key driver here for the
use of composites is again their light weight
compared to alternative materials, allowing
greater quantities of CNG fuel to be filled.
On the passenger vehicle side, it is not currently expected that there will be any major
growth in the United States for CNG cars
in the short term, in spite of the low price

of CNG and even though some models of
cars adapted to CNG are on the market. In
Europe however, as part of the push to meet
CO2 reduction targets, CNG vehicles are
being promoted, in particular in combination with the move to the growing use of
biogas obtained by the anaerobic decomposition of organic material in various kinds of
waste. Again here, filament-wound carbon
fibre/epoxy pressure vessels compete against
more traditional materials based on their
lighter weight. In the United States, there
are also conversions of industrial heating
systems, originally based on burning diesel,
to natural gas because of the cost advantage.
In addition to pressure vessels on vehicles
themselves, this development in the use of
CNG has also resulted in the need for ways
to transport CNG in bulk either to industrial
users or to remote filling stations not connected by pipeline to a CNG source. One
company in particular, Hexagon Lincoln,
part of the Hexagon Composites Group,
has been very successful in developing
CNG transport systems based on very large
composite filament-wound pressure vessels
for the bulk transport of CNG (see Figure
3). These transporters are being sold around
the world to companies needing to transport
CNG where no pipelines exist.
The need for bulk transportation of CNG is
not just limited to land but also concerns sea
transportation. The economical transportation of liquefied natural gas requires large
investments in liquefying plants, loading
terminals and large specially-built ships, all
of which contribute to the need for longdistance shipping, e.g. >4000km. In places
where there are many islands, such as the
Caribbean or the Indonesian archipelago,
sometimes sources of natural gas need to
be connected to demand on nearby islands,
and so several companies are developing
smaller ships equipped with pressure vessels
for the cost-effective transportation of CNG.
Overall developments in the distribution
and use of compressed natural gas will
provide good opportunities for the use of
composites in the years to come. n

No97 May - June 2015 / jec

More information:
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composites magazine 47


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JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015

Table of Contents for the Digital Edition of JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015

Cover
Edito
Point of view : Excellence as a motto
Contents
COMPANY & BUSINESS
In brief
Equipment
Agenda of Events
APPLICATIONS
Marine
Watch
MARKET
USA
SPECIAL JEC AMERICAS
Conferences
Awards
Brazil, country guest of honor
Natural fibes
Manufacturing
Oil & Gas / overview
Oil & Gas / manufacturing
Oil & Gas / testing
Oil & Gas / Coating
RESEARCH & DEVELOPMENT
CFRP
Health monitoring
TECHNOLOGY & INNOVATIONS
Pultrusion
AFP
Prepreg
Repairing
Index
In the world
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Cover
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 2
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Edito
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Point of view : Excellence as a motto
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 5
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Contents
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 7
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - In brief
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Equipment
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 10
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 11
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Agenda of Events
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 13
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Ad1
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Ad2
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Marine
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 15
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Watch
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 17
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - USA
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 19
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 20
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 21
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 22
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Conferences
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 24
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 25
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Awards
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 27
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 28
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 29
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 30
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 31
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Brazil, country guest of honor
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 33
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Natural fibes
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 35
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 36
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 37
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 38
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Manufacturing
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 40
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 41
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 42
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 43
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 44
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Oil & Gas / overview
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 46
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 47
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Oil & Gas / manufacturing
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 49
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 50
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Oil & Gas / testing
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 52
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 53
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Oil & Gas / Coating
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 55
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - CFRP
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 57
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 58
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 59
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Health monitoring
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 61
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 62
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 63
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Pultrusion
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 65
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - AFP
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 67
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 68
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Prepreg
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 70
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Repairing
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 72
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Ad3
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Ad4
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - Index
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - In the world
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 75
JEC COMPOSITES MAGAZINE - Issue #97 - Special JEC Americas - May/June 2015 - 76
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