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ASIA GAS BUYER’S SUMMIT

ASIA GAS BUYER’S SUMMIT. March 25, 2003. Gaz de France Supply, Trading & Marketing. Contents. Gaz de France as a key LNG player The growing role of LNG in the European market World-wide LNG trade evolution Conclusion. Gaz de France as a key LNG player. Long term LNG Gaz de France supply.

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ASIA GAS BUYER’S SUMMIT

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  1. ASIA GAS BUYER’S SUMMIT March 25, 2003 Gaz de France Supply, Trading & Marketing

  2. Contents Gaz de France as a key LNG player The growing role of LNG in the European market World-wide LNG trade evolution Conclusion

  3. Gaz de France as a key LNG player

  4. Long term LNG Gaz de France supply Nominal quantity Delivery End of supply Origin bcm/y Algeria 2013 10,3 FOB Nigeria 2022 0,5 ex-ship Egypt 2025 4,8 FOB Norway 0,7 equity gas Gaz de France’s long term LNG supply • Gaz de France holds a long term LNG supply portfolio based on four different projects and 16 bcm/year • Gaz de France is the largest LNG importer in Europe • Gaz de France and Enel implemented a long term swap deal based on a quantity of 3.5 bcm/year linked with Enel’s LNG supply from Nigeria

  5. LNG spot operations from 1999 to 2002 • Gaz de France purchased spot LNG cargoes from : • Algeria • Qatar • Oman • Nigeria • Gaz de France sold spot LNG cargoes to : • the US (jointly with Sonatrach)

  6. Gaz de France’s LNG assets • Liquefaction  Snoehvit LNG project in Norway Gaz de France holds 12 % of the project  Idku LNG project in Egypt Gaz de France holds 5 % of the project • Shipping  Gaz de France presently manages a fleet of 7 vessels • LNG receiving facilities  France -Montoir de Bretagne - Fos Tonkin  India -Dahej : Gaz de France holds 10 % of Petronet LNG, along with the Indian companiesIOC, GAIL, BPCL and ONGC

  7. The growing role of LNG in the European gas market

  8. Portugal, Spain, France, Italy, Greece The fifteen countries of the European Union 250 600 500 200 400 150 Mtep 300 100 200 50 100 0 0 2000 2005 2010 2015 2020 2000 2005 2010 2015 2020 Residential sector Commercial sector Residential sector Commercial sector Industrial sector Power sector Industrial sector Power sector Other Other Forecast Growth in Demand for Natural Gas Mtep Source : WEFA Source : WEFA

  9. Libya1 310 Existing and Potential LNGExporting Countries to Europe CIS55 880 Norway3 830 Trinidad & Tobago560 Middle East71 140 Algeria4 520 Egypt 1 560 Venezuela4 160 Nigeria4 500 Angola370 (quantity : bcm) Source : CEDIGAZ

  10. A Growing Role of LNG in Western Europe Gas Supply • In order to face this growing natural gas demand, supply from more and more distant reserves is required • In this context, LNG is an attractive option : • from Europe point of view • from the producers’ point of view

  11. A Lot of Already Committed and Potential LNG Supply to Europe • New development of LNG to Europe since 1999 • New Committed Supply • Spain : LNG from T & T, Nigeria, Qatar, Egypt • Italy : LNG from Nigeria, Qatar • France : LNG from Norway, Egypt • Potential Supply • Spain : from Oman • Italy : from Qatar, Egypt • UK : from Qatar, Algeria • Other projects from Angola, Iran, Russia, Venezuela, …

  12. New LNG committed supply for Europe since 1998 2010 horizon 70 60 Egypt 50 Qatar 40 Bcm/year Norway 30 T & T 20 Nigeria 10 Algeria 0 1998 1999 2000 2001 2002 Growth of Committed LNG Supply • LNG supply to Europe in 2001 : 33.5 bcm (22 % of its imports) • Committed supply in 2010 : 60 bcm today

  13. World-wide LNG trade evolution

  14. LNG supply by exporting zones 40 35 30 25 Asia 20 Europe Bcm/year North America 15 10 5 0 Latin America Africa Middle East Distribution of LNG supply from different exporting zones • Africa (Algeria, Nigeria) • Latin America (T & T) • Middle East (Qatar, Oman and Abu Dhabi)

  15. EUROPE BARENTS SEA Norway, Russia ? MIDDLE EAST Qatar, Oman, Abu Dhabi, Iran ? LATIN AMERICA Trinidad and Tobago,Venezuela ? NORTH AFRICA Algeria, Egypt and Libya ASIA USA WEST AFRICA Nigeria, Angola ?Equatorial Guinea ? ASIA - OCEANIA Indonesia, Australia, Brunei and Malaysia USA - ALASKA LNG Consuming Basins LNG Exporting Basins LNG Spot deliveries LNG Long Term Contracts Toward an LNG trade globalisation

  16. Conclusion

  17. European market requires supply from more and more distant exporting countries and LNG will be part of that • LNG can supply markets which were formerly disconnected : • growing competition between Europe and the other markets (US, Asia) • growing competition between LNG exporting countries • Even if LNG trade globalisation generates arbitrage opportunities, this industry relies and will rely on long term contracts

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