Alaska LNG Project Overview Kenai, Alaska January 30, 2014

1. Alaska LNG ProjectOverviewKenai, AlaskaJanuary 30, 2014

2. Alaska LNG Project - Overview • BP, ConocoPhillips, ExxonMobil and TransCanada are working together to progress an Alaska LNG project: • 300+ people involved in project design work • Current work - $70M+ spent to date • Multiple third party contractors engaged – many Alaskan • Leveraging Denali, APP, related material ($700M past work) • Preliminary capital estimate - $45-65 Billion (2011 dollars) • Key project design accomplishments to date: • Integrated Basis of Design heat/material balance complete • Confirmed ability to integrate into existing operations • Completed project design, announced concept Feb13 • Finalized lead LNG plant site decision, announced Oct13 • Completed 2013 Summer Field Season: • Cultural resource assessment (>6,500 acres) • Hydrology / Lakes / Fisheries studied (37 / 17 / 20) • Traditional knowledge, subsistence, ethnographic surveys • 150 people involved • Key project issues to address: • “Mega-project” challenges (labor, resources, equipment, etc.) • Uncertainty related to permit timing / scope • Commercial and fiscal issues with all parties, including the State of Alaska Alaska LNG Plant Conceptual Layout Results of URS ArcGIS Location Suitability Screening Study Lead LNG Plant Site Nikiski Industrial Area Lead LNG Plant Site Selection - Extensive Analysis of SouthCentral coast - 20+ options analyzed; 4-5 sites feasible - Geotechnical, construction, operation issues

3. Point Thomson Central Pad Drill Rig Diesel Storage Maintenance Compression Utilities Warehouse Living Quarters Cold Storage Power Generation Process Alaska LNG Concept Summary - Upstream PTU Field Layout PTU (62 miles east of PBU/GTP area) • Initial Production System (IPS) project in progress - 2016 SU • Preliminary AK LNG design basis for PTU: • Leverage IPS facilities, add fourteen new wells • Add new gas facilities to existing central pad / facilities • New 30” gas line from PTU to GTP in Prudhoe Bay • Peak workforce – 500-1,500 people PBU Tie-in (adjacent to proposed GTP location) • Installation / tie-in managed by Prudhoe Bay Operator • Tie into existing CGF, deliver gas to new Gas Treatment Plant • Gas project / deliveries tied to future PBU operations • Preliminary plan is to inject CO2 using existing injection systems as appropriate PBU Central Gas Facility Tie-in

4. Alaska LNG Concept Summary - Pipeline Gas Pipeline and Compression Stations 800+ mile 42” x80 pipeline 3-3.5 billion cubic feet gas per day Eight compressor stations (30kHP each) Pipeline contents will be treated gas, impurities removed at NS GTP Designed to manage continuous and discontinuous permafrost regions Expansion potential with additional compression if appropriate Refining route based on summer field information, continued design work Five off-take points for Alaska gas delivery Peak workforce – 3,500 - 5,000 people Potential Pipeline Routes Alaska LNG Pipeline Elevation Design Example

5. Alaska LNG - Concept Summary – GTP / LNG Plants NS Gas Treatment Plant NS Gas Treatment Plant • Defined PBU integration for gas inlet, discharge • Designed to remove gas impurities • Four amine trains with compression, dehydration and chilling • Prime power generation (5 units, 54kHP) • All required utilities, infrastructure and camps • Facility will be modularized, sealifted to location • Peak workforce – 500-2,000 people LNG Plant, Storage and Marine Facility • Three 5.8 million tons per annum (MTA) LNG trains (17-18MTA) • Plant receives 2.2 - 2.5 billion cubic feet per day to liquefy • LNG production varies with ambient temp (4.9 - 6.3 MTA) • Small volume of stabilized condensate (~1,000 bbl/day) • Integrated utility system with all utilities on site • Three 160,000 cubic meter LNG storage tanks • Conventional jetty with two berths (15-20 LNG Carriers) • Peak workforce – 3,500 – 5,000 people for LNG plant • Peak workforce – 1,000 – 1,500 people for marine facility • Evaluating modularization to manage risks LNG Plant and Storage

6. Recent Progress • Pipeline • Refined route from PBU to Livengood, finalizing preliminary route from Livengood to Cook Inlet • Working ‘special design areas’ • AtigunPass - Denali National Park Area • Yukon River - Cook Inlet • Progressing fundamental technical work on geohazard analysis, waterway crossings, hydraulics and design • LNG Plant and Marine • Lead site selected • Completed plans for metocean data gathering • Ambient air monitoring stations / plan finalized • Progressing work on LNG capacity and technology • Prudhoe Bay • Data capture/analysis of PBU gas composition • Evaluated field dehydration performance and depletion planning • Developing integrated injection system • Evaluating integrated power grid • Point Thomson • Comparing plot plan options for safety/operability • Evaluated process design requirements • Developing design basis for engineering work • Gas Treatment Plant • Confirmed viability of 3 train design, aligns gas treatment plan with LNG plant • Finalized CO2 design / handling basis • Working to modularize plant design and evaluating sealift plans

7. Recent Progress – Environmental, Regulatory and Land Environmental, Regulatory and Land • Safe summer field season 2013 • No incidents for >40,000 man-hours, 90,000 miles • No reportable spills or public complaints • Peak workforce of over 130 contractor staff completed survey work from PBU to Livengood • Over 6,500 acres surveyed for cultural resources • Over 75 hydrology, lakes and fisheries surveyed • Traditional knowledge and ethnographic surveys Cultural Resource Survey Areas