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LNG in North America

LNG in North America. Tommy Stone – Vice President, Operations & Engineering Trunkline LNG Company, LLC – Lake Charles, LA. LNG Properties – A Means of Transportation. Liquefied Natural Gas (LNG) Temperature Minus 260 degrees Fahrenheit

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LNG in North America

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  1. LNG in North America Tommy Stone – Vice President, Operations & Engineering Trunkline LNG Company, LLC – Lake Charles, LA

  2. LNG Properties – A Means of Transportation Liquefied Natural Gas (LNG) • Temperature • Minus 260 degrees Fahrenheit • Volume reduction of 620 to 1 620 Ships of Gas = 1 Ship of LNG • Composition • Methane (85 – 98%) • Ethane (2 – 12%) • Propane (0 – 4%) • Butane (0 – 1%) • Others (0 – 1%) • LNG is nontoxic • Odorless, colorless • Vapor is natural gas – lighter than air as it warms • Stored near atmospheric pressure (± 2 psig)

  3. Government and Academics Agree, LNG is the Solution • FERC changes U.S. policy towards LNG terminals “The public interest is served through encouraging gas-on-gas competition by introducing new imported supplies of natural gas which will be accessible to all willing purchasers,” - FERC Order 12-18-02 “in a short time the commission had made changes to federal policies dealing with LNG licensing and seen a response from businesses interested in investing in terminals, which will contribute to alleviation of shortages of natural gas in the U.S.,” - Pat Wood III, FERC Chairman 09-10-03 • Energy Market Research LNG…will set the price of gas in North America for the foreseeable future… - Michael Economides, University of Houston

  4. Nation Needs New Sources of Supply Arctic Gas • Supply tightening • Demand growth • Traditional basins in decline • New supply must come from new areas • But will only come at a price that supports development • LNG has the opportunity to gain market share Rockies $3.60 - $5.85 LNG Deep Gulf LNG

  5. LNG Value Chain, Exploration & Production Exploration & Production TOTAL Shipping* Liquefaction Regasification 1 Bcf/d Scenario $6.1 B $1.5 B $2.0 B $2.0 B $0.6 B Per Unit $/Mcf $3.60 – 5.85 $1.25 – 2.00 $1.25 – 1.50 $.60 – 1.60 $.50 – .75 % of Total 100% 25% 33% 33% 9% *Shipping: West Africa to U.S. Gulf Coast.

  6. Proven World Natural Gas Reserves \\ ~ 4.1% of World Reserves Source: BP Statistical Review of World Energy, 2006

  7. LNG Value Chain, Liquefaction Exploration & Production TOTAL Shipping* Liquefaction Regasification 1 Bcf/d Scenario $6.1 B $1.5 B $2.0 B $2.0 B $0.6 B Per Unit $/Mcf $3.60 – 5.85 $1.25 – 2.00 $1.25 – 1.50 $.60 – 1.60 $.50 – .75 % of Total 100% 25% 33% 33% 9% *Shipping: West Africa to U.S. Gulf Coast.

  8. Liquefaction Capacity is Large and Will Continue to Grow Indonesia Algeria Malaysia Qatar Trinidad Nigeria Australia Oman Brunei Abu Dhabi USA Libya Egypt Iran Bolivia Yemen Russia Venezuela Angola Norway Peru Eq. Guinea Brazil Source: G.I.I.G.N.L,

  9. Growth Potential inAtlantic Basin Supply Atlantic Basin 3000 12 11.5 2,546 2500 10 Tcf Reserves 8 Liquefaction 2000 9.6 6 Tcf Reserves 1500 Bcf/d Liquefaction 5.6 4 1015 1000 2 Source: BP Statistical Review, 2006 & G.I.I.G.N.L. 527 500 0 Atlantic Basin Middle East Pacific Basin Res./Liq. (yrs) 290 1,246 126

  10. Abundant LNG Supply Norway Middle East Algeria Libya Egypt Trinidad Nigeria Venezuela Equatorial Guinea Angola Middle East

  11. LNG Value Chain, Shipping Exploration & Production TOTAL Shipping* Liquefaction Regasification 1 Bcf/d Scenario $6.1 B $1.5 B $2.0 B $2.0 B $0.6 B Per Unit $/Mcf $3.60 – 5.85 $1.25 – 2.00 $1.25 – 1.50 $.60 – 1.60 $.50 – .75 % of Total 100% 25% 33% 33% 9% *Shipping: West Africa to U.S. Gulf Coast.

  12. LNG FLEET HISTORY CAPACITY

  13. LNG VESSEL COST

  14. LNG Vessel Fleet • 228 Vessels - World Fleet • 136 Vessels On Book (New Builds) • Deliveries Through 2010 • 85% Membrane Containment • 15% Moss (Spherical) • Avg. 10/12 New Orders Each Year

  15. LNG SHIP TYPES Moss Membrane Tank Design

  16. LNG/C – Physical Size • Length: 950 feet (3 football fields) • Width: 150’ • Draft: 37’ (Underwater) • 2615 m2 (28,000 sq/ft.) • Air Draft: 195’ (Above Water) • 6,600 m2 (71,000 sq/ft) • Displacement: 110,000 Metric Tons • Two Tractor Tugs Required for Berthing

  17. VESSEL TRANSIT TO TLNG • 6-8 Hour Transit – Approx. 52 Miles • One Way Traffic for Deep Draft Vessels • 24 Hour Transits • Lake Charles Pilots • Corp of Engineers Project Project Depth = 40 feet Outer Bar = 800 ft. Width Inner bar = 400 ft. Width

  18. LNG Value Chain, Regasification Exploration & Production TOTAL Shipping* Liquefaction Regasification 1 Bcf/d Scenario $6.1 B $1.5 B $2.0 B $2.0 B $0.6 B Per Unit $/Mcf $3.60 – 5.85 $1.25 – 2.00 $1.25 – 1.50 $.60 – 1.60 $.50 – .75 % of Total 100% 25% 33% 33% 9% *Shipping: West Africa to U.S. Gulf Coast.

  19. Atlantic Basin Regasification Capacity Growing Italy Spain France North America Spain France North America • North America becomes much more significant in the global LNG community

  20. LNG Imports Relative to U.S. Demand Quotes from EIA Energy Outlook 2006 • “Imports are expected to play an important role in U.S. natural gas markets, accounting for 21 percent of total U.S. natural gas consumption in 2030” • “LNG imports are projected to grow from 650 billion cubic feet in 2004 to 4.4 trillion cubic feet in 2030, with net LNG imports rising from 17 percent of net imports in 2004 to 78 percent in 2030” • “The most rapid growth in LNG import capacity will occur over the next decade, with peak annual capacity increasing from 1.4 trillion cubic feet in 2004 to 4.9 trillion cubic feet in 2015” Source: EIA

  21. TLNG Currently Offers Greatest Flexibility of All Domestic Terminals Distrigas, Tractebel Everett, MA CurrentExpanded Sendout: (MMcf/d) 715 n/a Storage: (Bcf) 3.4 n/a Summary Total Existing U.S. Regasification CurrentExpanded Sendout: (MMcf/d) 4,388 6,115 Storage: (Bcf) 27.65 42.75 Cove Point LNG, Dominion Cove Point, MD CurrentExpanded Sendout: (MMcf/d) 1,000 1,800 Storage: (Bcf) 7.8 14.5 Trunkline LNG, Panhandle Energy Lake Charles, LA SustainedPeak Sendout: (MMcf/d) 1,800 2,100 Storage: (Bcf) 9.0 9.0 Elba Island, El Paso Savanna, GA CurrentExpanded Sendout: (MMcf/d) 823 1,800 Storage: (Bcf) 7.45 15.85

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  23. LNG in U.S. Gulf Coast Region • U.S. Gulf region 45-55% of U.S. supply • Sufficient pipeline infrastructure • Blending and processing allow a broader range of gas quality • Low cost storage • Deepwater ports • Supportive state & local govt’s • Reduced NIMBY issues *Source: US Department of Energy 0105-005

  24. Texas/Louisiana LNG Projects Sabine Pass LNG In-service date: 2008-9 Sendout: 2.6 – 4.0 Bcf/d Developer: Cheniere Capacity Holder: Total & ChevronTexaco Trunkline LNG In-service date: 2006 (expansions) Sendout: 1.8 Bcf/d Developer: Southern Union Capacity Holder: BG LNG Cameron LNG In-service date: 2008 Sendout: 1.5 – 2.65 Bcf/d Developer: Sempra Capacity Holder: ENI & Merrill Lynch Freeport LNG In-service date: 2008 Sendout:1.5 Bcf/d (expand to 3.0 Bcf/d) Developer: Freeport LNG Dev.* Capacity Holder: Dow & ConocoPhillips & Mitsubishi Creole Trail In-service date: 2011 Sendout: 3.0 Bcf/d Developer: Cheniere Capacity Holder: TBD Golden Pass In-service date: 2009 Sendout: 2 Bcf/d Developer: ExxonMobil Energy Bridge In-service date: 3/2005 Sendout: 0.5 Bcf/d Developer: Excelerate Energy Corpus Christi Projects (3) In-service dates: 2009-10 Sendout: 4.7 Bcf/d (total) Developers: 4Gas, Occidental Approved by FERC or MARAD/USCG Proposed to FERC 24 *Freeport LNG Development is composed of a General Partnership which has management control, but zero economic interest (Michael Smith 50% and ConocoPhillips 50%) and Limited Partners which have zero management interest, but have economic interest (Michael Smith 60%, Cheniere 30% and Contango 10%). 0105-005

  25. Trunkline LNG Activity (2Q 2007) LNG Imports by Terminal Jan – June 2007 LNG Imports by Company Jan – June 2007 Excelerate 1% Excelerate 2% Statoil 6% BP 7% Shell 5% Cove Point 19% Lake Charles 40% Elba Island 19% Suez LNG 21% BG LNG 59% Everett 21% Total = 464.0 Bcf 3.9% of U.S. Gas Demand (2 Qtr) *Source: US Department of Energy

  26. Trunkline LNGExpansion Facilities • Phase I • Construction Completed April 2006 • Double sendout capacity to 1.2 Bcf/d • Peaking of 1.3 Bcf/d • Increase storage capacity to 9.0 Bcf • Phase II • Construction Complete July 2006 • Increase sendout capacity to 1.8 Bcf/d • Peaking of 2.1 Bcf/d • Trunkline Gas Company Loop • Construction Complete • 22 miles (new construction) of 36” pipeline loop • Several (6+) new or expanded delivery points

  27. TLNG & TGC Field Zone Supply with LNG Expansions 1,500MMcf/d Mainline Capacity Trunkline LNG Supply • 2003 - 2006 (avg): 525 MMcf/d • 2007+ (est): 1,500 +MMcf/d Longville Kountze Centerville Cypress Lake Charles LNG Patterson Edna 2006 MMcf/d TGC Receipts: 2,494 TGC Mainline Capacity: 1,500 Field Zone Supply Overage: 994 Beeville Sea Robin Terrebonne

  28. LNG Value Chain – Total Project Exploration & Production TOTAL Shipping* Liquefaction Regasification 1 Bcf/d Scenario $6.1 B $1.5 B $2.0 B $2.0 B $0.6 B Per Unit $/Mcf $3.60 – 5.85 $1.25 – 2.00 $1.25 – 1.50 $.60 – 1.60 $.50 – .75 % of Total 100% 25% 33% 33% 9% *Shipping: West Africa to U.S. Gulf Coast.

  29. TRUNKLINE LNG – LAKE CHARLES, LOUISIANA

  30. GAS LIQUID BOIL-OFF COMPRESSOR DESUPERHEATER PIPELINE COMPRESSOR RECONDENSER LNG STORAGE TANKS VAPORIZERS PIPELINE REGASIFICATION PROCESS

  31. Trunkline LNG - Infrastructure Enhancement Project (IEP)

  32. Conclusion “One of the benefits of LNG is that new supplies could enter the market within the next few years, well ahead of other opportunities, and begin to offer relief to American consumers.” - Center for LNG

  33. Questions & Answers

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