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LNG Base case 18.6% 16,545

Pipeline Base case 16.7% 19,521

Project IRR Project NPV

LNG 70% EU- 30% Asia 18.6% 16,545

LNG 50% EU - 50% Asia 19.3% 18,155

Project IRR Project NPV

Pipeline Base case 16.7% 19,521

Pipeline +30% Construction cost 14.0% 13,005

Project IRR Project NPV

LNG Base case Pricing 18.6% 16,545

LNG -20% average price 15.3% 10,022

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Period number Start of period End of period

$/Mcf $/Mcf

$/Mcf $/Mcf

Operation Costs Shipping Costs

Total ongoing costs LNG Total ongoing costs Pipeline

Annual discount rate

1.5 Financing inputs

Capital expenditure for LNG Capital expenditure for Pipeline

%

mil $ mil $

$ $

Unit price LNG Unit price pipeline

1.4 Capital expenditure inputs

% % $ $

Mcf Mcf

%

date

date mths periods date

% to Asia % to EU Gas price for ASIA /Mcf Gas price for EU /Mcf

Case selected

Revenues - units sold LNG Pipeline

1.3 Trading inputs

Units Tolerance Inflation assumptions

1.2 General inputs

Production start date

Model start date Number of months in each period Number of periods Model end date

1.1 Timing inputs

1. Inputs

INPUTS

LEVIATHAN

10.00%

14,000 32,000

1.2 0.2

0.6 0.6

11.34 10.50

4,000 4,000

-

LNG 1 30% 70% 13.30 $ 10.50 $

-

1.25%

16,000,000,000 16,000,000,000

mil $ 0.001

01 Jan 17

01 Jan 12 12 37 31 Dec 48

1 01 Jan 12 31 Dec 12

5,000

-

-

-

1.25%

2 01 Jan 13 31 Dec 13

5,500 5,000

-

-

1.25%

3 01 Jan 14 31 Dec 14

5,000

-

-

1.25%

4 01 Jan 15 31 Dec 15

5,000

-

-

1.25%

5 01 Jan 16 31 Dec 16

1.25%

7 01 Jan 18 31 Dec 18

4,500 5,000

3,000

260,000,000 260,000,000

260,000,000 260,000,000

1.25%

6 01 Jan 17 31 Dec 17

-

260,000,000

260,000,000 1,000,000,000

1.25%

8 01 Jan 19 31 Dec 19


mil $ mil $ mil $ mil $

Balance b/f Sales Cash (received) Balance c/f

days period mil $ mil $ mil $ mil $

Creditor days Days in period

Balance b/f Costs Cash (paid) Balance c/f

1.4 Trade creditors control account

days days

Debtor days Days in period

1.3 Trade debtors control account

Total ongoing costs

Investment

mil $

ÂŁ mil $

Sales price per unit Sales

1.2 Costs calculation

index ÂŁ flag units

Inflation index Unit price Contract timing flag Units

1.1 Sales calculation

1. Sales & costs

CALCULATIONS Period number Start of period End of period

LEVIATHAN

Mcf

0

0

11.34

(4,050) 4,050 -

366

-

366

-

4,050

11.34 -

-

1.0125

1 01 Jan 12 31 Dec 12

-

365

-

365

-

-

11.34 -

-

1.0252

2 01 Jan 13 31 Dec 13

(5,709) 5,709 -

365

-

365

-

5,709

11.34 -

-

1.0380

3 01 Jan 14 31 Dec 14

-

365

-

365

-

-

11.34 -

-

1.0509

4 01 Jan 15 31 Dec 15

-

366

-

366

-

-

11.34 -

-

1.0641

5 01 Jan 16 31 Dec 16

(4,848) 4,848 -

365

2,948 (2,948) -

365

336.1

4,848

11.34 2,948

1 260,000,000

1.0774

6 01 Jan 17 31 Dec 17

-

365

2,948 (2,948) -

365

340.3

-

11.34 2,948

1 260,000,000

1.0909

7 01 Jan 18 31 Dec 18


Period number Start of period End of period

Project IRR Project NPV

Project IRR Project NPV

Project IRR Project NPV

Case Project IRR Project NPV

Pipeline Base case 16.7% 19,521

16,545 18.6%

10.00%

LNG Base case Pricing 18.6% 16,545

LNG -20% average price 15.3% 10,022

Pipeline Base case Pipeline +30% Costruction cost 16.7% 14.0% 19,521 13,005

LNG 70% EU- 30% Asia LNG 50% EU - 50% Asia 18.6% 19.3% 16,545 18,155

LNG Base case 18.6% 16,545

%

Project NPV Project IRR

1.3 Sensitivities

%

mil $

Annual discount rate

1.2 NPV / IRR

Total equity cashflows

1.1 Equity cashflows

1. Outputs

OUTPUTS

LEVIATHAN

(4,050) (4,050)

1 01 Jan 12 31 Dec 12

-

2 01 Jan 13 31 Dec 13

(5,709) (5,709)

3 01 Jan 14 31 Dec 14

-

4 01 Jan 15 31 Dec 15

-

5 01 Jan 16 31 Dec 16

(2,236) (2,236)

6 01 Jan 17 31 Dec 17

2,608 2,608

7 01 Jan 18 31 Dec 18


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Πως το κοίτασμα φυσικού αερίου Λεβιάθαν μπορεί να επηρεάσει τις σχέσεις Ισραήλ-Κύπρου-Ρωσίας  

Ανάλυση των πιθανών συνεπειών στις σχέσεις Ισραήλ-Κύπρου-Ρωσίας μετά την πρόσφατη ανακάλυψη του κοιτάσματος φυσικού αερίου Λεβιάθαν