Past, present and future of the electricity and gas integration between Chile and Argentina
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1 Past, present and future of the electricity and gas integration between Chile and Argentina Hugh Rudnick & Carlos Silva Boston, July 2016
2 2 Summary Analyze the love & hate relation between Argentina and Chile in relation to gas and electric interconnections, the history of developments and the opportunities for the future. First, a discussion is made of the gas integration that took place in the late 1990s, with Argentina supplying abundant and economic gas to Chile, with an abrupt closing from 2004, with the lessons learned. An analysis is made of the challenges of the reintegration that is taking place, where Chile transfers electricity as well as imported LNG to Argentina, the operational and economical dimensions, and perspectives for the future, also considering eventual electricity exchanges with Peru.
3 3 Index Gas resources in South America Description of Chilean power market Gas integration between Chile and Argentina Gas disintegration Trying again to integrate Conclusions & final remarks
4 4 Energy demand in Latin America MTOE
5 5 Gas production, consumption & reserves Source: IEA
6 6 Gas imports and exports by country Billion cubic meters per annum Source: BP, 2014
7 7 Index Gas resources in South America Description of Chilean power market Gas integration between Chile and Argentina Gas disintegration Trying again to integrate Conclusions & final remarks
8 8 Chile facts Population (2014) 17,762, 964 GDP (PPP) per capita (2014) $14,980 6,170 29% 2,374 11% 12,478 60% Thermal Renewable Non conventional renewable SIC+SING installed capacity (June 2016) 21,022 MW Max power demand SIC (2015) Max power demand SING (2015) Annual energy demand SIC + SING (2015) 7,557 MW 2,290 MW 66,468 GWh Electricity sector reform in 1982 All companies privately owned Source: World Bank, CDEC, Systep
9 9 Index Gas resources in South America Description of Chilean power market Gas integration between Chile and Argentina Gas disintegration Trying again to integrate Conclusions & final remarks
10 Gas integration starts between Argentina & Chile 10 SING 5 combined cycles 2070 MW Norandino Atacama SIC 5 combined cycles 1700 MW Gasandes Pacífico 4 gas distribuitors Tocopilla Mejillones Paposo Santiago Concepción Buenos Aires Gas protocol signed in 1991, modified in 1995, allowing sending gas from Argentina to Chile in favorable conditions, based on a non discriminatory principle. Exports started in 1997 Investment based on Argentinean gas MMUS$ 7 gaspipes Combined Cycle plants Distribution and industrial Total Metanex Punta Arenas Ref.: GasAtacama
11 [MMm3/day] dic-96 abr-97 ago-97 dic-97 abr-98 ago-98 dic-98 abr-99 ago-99 dic-99 abr-00 ago-00 dic-00 abr-01 ago-01 dic-01 abr-02 ago-02 dic-02 abr-03 ago-03 dic-03 Argentina gas exports to Chile Metanex SIP Metanex YPF Metanex PA Pacífico Atacama Norandino Gasandes
12 Significant impact on Chile s electric Mg costs 300 US$/MWh SIC 50 Ene-85 Ene-86 Ene-87 Ene-88 Ene-89 Ene-90 Ene-91 Ene-92 Ene-93 Ene-94 Ene-95 Ene-96 Ene-97 Ene-98 Ene-99 Ene-00 Ene-01 Ene-02 Ene-03 Ene-04 Ene-05 Ene-06 E
13 13 Index Gas resources in South America Description of Chilean power market Gas integration between Chile and Argentina Gas disintegration Trying again to integrate Conclusions & final remarks
14 14 Macroeconomic crisis in Argentina 2004 crisis starts with gas cuts
15 Significant impact on Chile s electric Mg costs 300 US$/MWh SIC 50 Ene-85 Ene-86 Ene-87 Ene-88 Ene-89 Ene-90 Ene-91 Ene-92 Ene-93 Ene-94 Ene-95 Ene-96 Ene-97 Ene-98 Ene-99 Ene-00 Ene-01 Ene-02 Ene-03 Ene-04 Ene-05 Ene-06 Ene
16 16 Chile seemed reluctant to further exchanges International agreements proved useless in a critical economic condition Non discriminatory principle was violated Not political to cut essential services to the population Severe impact on Chilean economy Estimated cost of 20 billion US dollars (for more expensive generation) Never to become so dependent
17 17 Chile resorts to LNG Regasification terminals built at Quintero & Mejillones Quintero: British Gas (40%), Enap (20%), Endesa Chile (20%), Metrogas (20%) In operation from mid 2009 Contracts that start at 6.5 MMm³/day Mejillones Quintero
18 18 Supply chain for natural gas to Chile High resultant prices Argentinean gas price was 1.5/MMBtu
19 19 Index Gas resources in South America Description of Chilean power market Gas integration between Chile and Argentina Gas disintegration Trying again to integrate Conclusions & final remarks
20 20 A little bit of history In 1999, as part of Chile Argentina gas integration, Chilgener & Termoandes (today AES Gener) decided to export electric energy from Argentina to Chile s northern system, SING. This exchange operated until 2005
21 21 A little bit of history In 2013 AES Gener (owner of line) started studies to reactivate the line, but now to transfer electricity from the SING in Chile to the SADI in Argentina Argentina had developed its transmission network, but not its generation matrix, so in the last few years its demand has caught up to its generation offer In 2015, the government of Chile authorized the export under the principle of indemnity Indemnity implies that operation with exports should not modify the prices at the sending end
22 22 Operation To ensure the indemnity of the system, the operator in the Chilean side calculates the dispatch as always Generators that were not selected by the dispatch can participate in the export, if they were previously accepted by the line owner (AES Gener) AES Gener submits sell offers to the SADI s system operator, CAMMESA The export is triggered if CAMMESA accepts the sell offers for its system, SADI
23 23 Operation After a period of tests, export started in Feb 2016 As of April, SING & SADI were 462 hrs. interconnected [MWh] SING > SADI SADI > SING GWh exported
24 24 Operation During the first period interconnected (February 12th until February 26th), the SING s generated energy was 821 GWh and the flow to Argentina reached 37 GWh [MW] Exports to SADI Internal consumption SING [h]
25 25 Operation Up to this point, this may look like a good business for private companies, with no real system benefits Idle generators in Chile get to sell their energy AES Gener gets to charge for its transmission line TermoAndes (AES Gener) gets to sell energy into Argentina
26 26 Operation However, the integration has very important system byproducts: CAMMESA gets additional energy, that given current generation shortages, it is critical to avoid unserved energy SING is also getting a better dynamic response to faults, avoiding unserved energy in the transients (SING has a poor dynamic response, mostly due to the slow response from its coal fired plants).
27 27 Operation Event 3962 (Nov. 5th 2015): Fault in Generator Angamos 1 with 263 MW Frequency reached 48.8 Hz 3levelsofloadshed Loss of MW of load Unserved load 48.6 MWh Event 4052 (Feb. 22nd, 2016): Fault in Generator Angamos 2 with 253 MW Frequency reached Hz No load shed 50,40 50,20 50,00 SING Frequency Frequency [Hz] 49,80 49,60 49,40 49,20 49,00 48,80 48,60 Evento N 4052 Evento N Time [sec]
28 28 Operation The integration has very important system byproducts: SING is getting a smoother frequency while interconnected (SADI is ten times bigger than the SING)
29 29 Operation The integration has very important system byproducts: BOTH systems know they can ask for assistance in case of a natural disaster or operational exception. In July 2, 2014, the interconnection with Argentina was critical to minimize the consequences of a SING system wide blackout.
30 30 Chile started exporting gas to Argentina Chile agreed to export to Argentina some of the LNG gas it imports 5.5 million cubic meters daily (to feed Buenos Aires), implying payments of US$ 180 million per year Represents about 20% of LNG imports of Argentina
31 31 Electric Integration Chile Peru Chile and Peru are part of SINEA (Andean Community plus Chile), where several interconnection studies have been conducted Two interconnections are planned: Short and thin, between Arica & Tacna (450 MW) Long and strong, between Crucero & Montavo (1000 MW). Integration between Chile & Peru has shown to be more challenging due to geopolitical issues
32 32 Shale gas resources in Argentina Enormous resources anticipate future important energy exchanges trillion cubit feet (tcf) Chile has 48.5 tcf US has tcf
33 33 Index Gas resources in South America Description of Chilean power market Gas integration between Chile and Argentina Gas disintegration Trying again to integrate Conclusions & final remarks
34 34 Conclusions & final remarks Regional energy integration provides ample advantages, both economical and technical However, geopolitical conflicts are still an issue that limits integration (Chile Bolivia, Chile Peru, Peru Ecuador) Although the Chile Argentina energy integration seemed dead, integration advantages are stronger and are driving the market Merchant type investors are looking for opportunities New government initiatives are finding opportunities for exchanges, with private investors involved
35 35 Conclusions & final remarks Regulatory harmonization is an issue that needs consideration, particularly with existence of non market based schemes The principle of indemnity and/or subsidies work against market forces Probably energy integration will be volume bounded, not to create critical dependences The energy integration between countries goes beyond who sells to whom. There is always much more to win for all parties involved.
36 Past, present and future of the electricity and gas integration between Chile and Argentina Hugh Rudnick & Carlos Silva Boston, July 2016
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