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ENRON - ENAP Field Development Gas Marketing Agreement

ENRON - ENAP Field Development Gas Marketing Agreement. March 2001. Summary. Presentation about Enron Enron’s Investments Enron in Argentina Proposal to ENAP. 1. Enron’s Global Presence Enron around the World Enron’s Presence in Latin America Enron in Latin America

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ENRON - ENAP Field Development Gas Marketing Agreement

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  1. ENRON - ENAP Field Development Gas Marketing Agreement March 2001

  2. Summary • Presentation about Enron • Enron’s Investments • Enron in Argentina • Proposal to ENAP 1

  3. Enron’s Global Presence • Enron around the World • Enron’s Presence in Latin America • Enron in Latin America • Enron’s Presence in the South Cone • Enron in the South Cone PRESENTATION 2

  4. GLOBAL PRESENCE • Enron is one of the leading natural gas companies in the world, present in more than 30 countries, whose total assets exceed US$23 Billion. • Enron has broad experience in all energy sectors and is well known as a first mover in creating and expanding markets. • Enron’s worldwide services include exploration, production, and distribution of natural gas, as well as construction, operation, and financing of energy facilities, such as pipelines and power plants. In addition to these services, Enron also manages energy commodities and provides risk management in emerging markets. 3

  5. ENRON AROUND THE WORLD Oslo Moscow Latvia Sutton Teesside Bridge Bitterfeld Kuznetsk Basin Calgary Poland London Novokuznetsk Paris Portland Toronto Croatia Marmara Beijing Sardinia Turkey Uzbekistan Houston Xiamen Jordan Zhaoyin Songyu Delhi Qatar Haikou City Dominican Republic Saipan Hainan Island Guam Mumbai Subic Bay Puerto Rico Dubai Saudi Arabia Kingston Manila Dabhol Guatemala Vietnam Batangas Port of Spain Promigas Pipeline Caracas Tamil Nadu Centragas Bogota Singapore Ivory Coast Jakarta East Java Cemat La Paz Santa Cruz CEG/RIOGAS Campo Grande TRSA GTB GOB Mozambique Pipeline Galilee Basin Sao Paulo Johannesburg Projects in Operation or In Construction Projects in Development Brisbane Australia Maputo Gasoducto Bolivia/Brasil Buenos Aires Pipelines Pipelines Main Oil & Gas Assets Power PLants TGS Power Plants Methane (Coal) Primary Processing Power Plants LNGor LPG Facilities Storage Facilities E & P Liquids Storage Facilities International Representation Clean Combustibles Facilities LNG or LPG Facilituies Other 4

  6. PRESENCE IN LATIN AMERICA • Enron is one of the leading energy companies operating in South America, mainly in natural gas. Enron is present in 8 Latin American countries, where total assets equal US$ 3 Billion. • Enron owns 15,206 kilometers of South American oil and natural gas pipelines and is the pioneer in the creation of wholesale merchant transactions in Argentina and Brazil. • Enron participates in nine local gas distributors (LDC’s) and one power LDC, serves more than 2.0 million customers and counts with exclusive franchises to serve 60.0 million people. • Enron has ownership in the first privatized pipeline and in the first independent power project (Proyecto Integrado de Cuiaba) in Brasil. 5

  7. Dominican Republic 185 MW Puerto Rico 507 MW ENRON IN LATIN AMERICA Honduras 180 MW Accro 3&4 Usinas de Gás/ Dutos Gasoduto Centragás 357 milhas Projetos de Exportação de GPL Ventane Distribuição de GPL Gasoduto Promigas 1062 milhas Entercol Marketing JV Camisea Salvador Cuiabá 480 MW Thermoelectric In Service In Development Commercial Activities In Progress In Development Gasodutos Transredes 3,093 milhas Gasoduto Bolivia/Brazil 1875milhas CEG/Riogas Distribuição de Gás Pipelines In Service or In Construction In Development Offices Bogotá Buenos Aires Caracas Guatemala City La Paz Río de Janeiro Salvador San Juan Santa Cruz Santo Domingo São Paulo Gasoduto Transportadora de Gas del Sur 4,104 milhas LNG Facilities In Development 6

  8. PRESENCE IN THE SOUTHERN CONE • Enron supports the regional integrated energy processes, whose purpose is the integral development of the energy sector and the feasible allocation of energy resources, which result from private investment. • Enron promotes guarantee in the supply of energy to sustain regional economic development and strengthen the reliability in the integrated energy processes, the competitive frame, and the free access to transportation capacity and markets. • Enron’s investments support the development of the privileged geographical position of Bolivia in the Mercosur, which can become the strategic hub of the regional energy integration. 7

  9. ENRON IN THE SOUTHERN CONE PBGás 0,1 MMcm/d 18 customers PARAÍBA Copergás 0,5 MMcm/d 37 customers PERNAMBUCO Porto Velho ALAGOAS B R A Z I L SERGIPE Cuiabá 480 MW Power Plant and 390 Mile Pipeline TOCANTINS RONDÔNIA Algás 0,3 MMcm/d 5 customers Bahiagás 1,6 MMcm/d 21 customers P E R U • Main Investments • TGS • Transredes • GTB/TBG • CEG/Ríogás • GasPart (7 gas LDCs) • Cuiabá IPP • Elektro • Gas/Power Marketing • Employees • Companies in Operation: 4,800 • Commercial ESA: 200 BAHIA B O L I V I A Emsergás 0,1 MMcm/d 18 customers Cuiabá GOIÁS Brasília La Paz MINAS GERAIS MATO GROSSO Santa Cruz de La Sierra ESPÍRITO SANTO MATO GROSSO DO SUL SANTA CRUZ Gasoducto Transredes 3.093 millas Belo Horizonte Campo Grande Vitória SÃO PAULO RIO DE JANEIRO P A C I F I C O C E A N Gasoducto Bolivia-Brasil 1.864 millas CEG/Riogás LDCs 3,3 MMcm/d 551.000 customers São Paulo C H I L E Rio de Janeiro PARANÁ Asunción Curitiba Elektro 1,6 Million customers 10.500 GWh Compagás SANTA CATARINA Florianópolis A T L A N T I C O C E A N A R G E N T I N A SCGás RIO GRANDE DO SUL Porto Alegre 0 350 700 Kilometers U R U G U A Y Santiago Existing Assets and Operations TGS 4.104 miles Montevideo Buenos Aires Projects/Businesses Under Construction Gas/Power Trading 8

  10. Transportadora de Gas del S.A. • Local Distribution Companies (LDC’s) in Brasil • Elektro Area in Sao Paulo State • Hidrocarbon Transportation System of Transredes S.A. • Bolivia – Brasil (BB – PL) Pipeline • Cuiabá I, Pipeline & Thermoelectric • Projects in Development ENRON’S INVESTMENTS 11

  11. GASODUCTO NEUBA II NEUBA II GAS PIPELINE • TGS Statistics • 6,819 km of pipeline • 2.0 Bcf/d peaking capacity • 1,100,000 TM gas & liquids processign capacity • Privatized in 1992 • 98% of the contracted capacity are long term fixed contracts, under a fixed price. • Shareholders: Enron 35%, Perez Companc 35%, State 30% COMPLEJO CERRI PROCESSING PLANT GASODUCTO DEL OESTE (NEUBA I) WESTERN GAS PIPELINE GASODUCTO GRAL. SAN MARTIN GRAL. SAN MARTIN GAS PIPELINE TGS represents almost 60% of the Argentinean natural gas transportation market 12

  12. Santa Ines Para Maranhao Maranhao Rio Grande do Norte Ceará PBGas Paraiba Piaui Copergás Pernambuco Alagoas Tocantins Algás Sergipe Mato Grosso Emsergas Bahia Goias Bahiagas Minas Gerais Espirito Santo South Mato Grosso do Sul São Paulo Atlantic Rio de Ocean Janeiro Riogás CEG São Paulo Paraná PARAGUAY CEG/Riogás GasPart Compagás Statewide Disco’s Santa Gas Fields Catarina Oil Fields/Associated Gas GasPart Pipeline SCGás Petrobrás Pipelines Rio Grande do Sul BBPL GAS LDC’s IN BRASIL 1997 Statistics Population GDP (million) (US$ bil) State LDC GASPART Northeast Bahia Bahiagás 12.7 36.5 Pernambuco Copergás 7.5 18.8 Alagoas Algás 2.6 5.2 Sergipe Emsergás 1.7 6.6 Paraíba PBGás 3.3 6.4 South Paraná Compagás 9.1 46.2 Santa Catarina SCGás 4.9 25.2 CEG/RIOGÁS Southeast Rio de Janeiro CEG/Riogás 13.6 91.7 13

  13. ELEKTRO – AREA Sao Paulo State • Population: 37 million people • 96,000 squaredmiles • 98 GDP = US$ 290 Billion (35% of Brazil) VOTUPORANGA ANDRADINA State of Sao Paulo RIO CLARO ATIBAIA ITAPEVA Area de Concesión • US$ 600 million in revenues • 7th largest LDC in Brasil • 47,000 sq. miles • 1.6 million customers • Population: 5.2 million people • 2,300 employees GUARUJÁ ITANHAÉM 14

  14. References • Vital Statistics • 3,500 km of Pipeline • 2,500 km Oilducts • Employees 460 • Market Capitalization $263.5 MM • Pipelines • Oilducts • GTB • GOB Hidrocarbons Transportation System 15

  15. Bolivia-Brasil (BB-PL) Pipeline Camisea Camisea Cuiabá BB-PL Carrasco SCZ Corumba Sica Sica Oruro Roboré Arica Campo Grande • Statistics • 3,100 km of pipeline • 1 Bcf/d capacity • Phase I completed March 1999 • Phase II completed Q1 2000 • Shareholders % Bol Bra Ave* • Enron/Shell/Bol. 85 20 33 • Petrobrás 9 51 43 • BTB 6 29 24 Yacuiba Río de Janeiro Córdoba * Based on 80% of investment in Brazil, 20% in Bolivia In Construction 16

  16. Cuiabá I, Pipeline and Thermoelectric Cuiabá I 480 MW Cáceres San Matías GOB Roboré B R A S I L BB-PL • Cuiabá I Statistics • 480 MW in 3 Phases • Phase I - 150 MW Q1 99 • Phase II - 300 MW Q2 00 • Phase III - 480 MW Q4 00 • Pipeline - 628 km, 18 inches • MT ‘98 Peak Demand = 578 MW • MT ‘02 Peak Demand = 817 MW Cuiabá Spur Pipeline BB-PL Pipelines in Operation 17

  17. PROJECTS IN DEVELOPMENT PARAÍBA PERNAMBUCO Porto Velho ALAGOAS B R A Z I L SERGIPE TOCANTINS RONDÔNIA Cuiabá II 480 MW P E R U BAHIA B O L I V I A Puerto Suarez 150 MW Cuiabá GOIÁS Brasília La Paz MINAS GERAIS MATO GROSSO Santa Cruz de La Sierra RioGen 960 MW ESPÍRITO SANTO MATO GROSSO DO SUL SANTA CRUZ Belo Horizonte Campo Grande Vitória SÃO PAULO RIO DE JANEIRO P A C I F I C O C E A N P A R A G U A Y São Paulo C H I L E Rio de Janeiro PARANÁ Asunción Curitiba SANTA CATARINA Florianópolis A T L A N T I C O C E A N A R G E N T I N A RIO GRANDE DO SUL Porto Alegre 0 350 700 Kilometers U R U G U A Y Santiago Companies In Operation Montevideo Buenos Aires Projects In Development 18

  18. Enron’s Presence in Argentina • Natural Gas Marketing in Argentina • Eletric Energy Marketing in Argentina. ENRON IN ARGENTINA 2

  19. Enron’s Presence in Argentina Marketing and Trading of Natural Gas and Power Transportation of Natural Gas Enron Pipeline Co. Arg. S.A. Transportadora de Gas del Sur S.A. Enron International Argentina S.A. Enron Comercializadora de Energía Arg. S.A. Engineering Services and Project Management Water Services and Treatment Obras Sanitarias de Mendoza S.A. Azurix S.A. Enron Engineering & Construction Div.

  20. Enron’s Presence in Argentina • Enron holds 35% of Transportadora de Gas del Sur common stock since 1992. Also, Enron is the Technical Operator. • Enron was registered as Marketer of Natural Gas in ENARGAS in 1995 and in the Energy Secretary in 1996. • Enron belongs to the consortium of Aguas de Mendoza since 1998 and Azurix (Obras Sanitarias de Buenos Aires since 2000). • Enron participates in the project management of the General Cerri gas plant expansion since 1996. • Enron participates in the project management of Entrerriano pipeline construction since 1998.

  21. Natural Gas Marketing Activities in Argentina • Out of the total natural gas volumes, 32% are marketed and sold through physical and commercial bypass. This volume is composed of around 90 industrial companies and power plants. • Enron participates in 5% of this market. • Enron has firm transportation capacity contracts with TGS for a period of 10 years. • Enron manages and provides services of natural gas and firm and interruptible transportation to customers from the following industrial sectors: • Aluminum • Eatable Oils • Textiles • Mining • Electric Power Generation Total volume equals 855.000 m3/day

  22. Electric Energy Marketing Activities in Argentina • Enron registered as a Power Marketer in April 1998. • Enron is the first independent Power Marketer in Argentina. • Enron signed a marketing agreement to provide 33 MWs. • Enron created the first financial swap for 10-MW, the first one in Argentina. • Today, Enron markets approximately 110 MW of capacity. • Enron acquired a 70 MW generating power plant in Córdoba Province to increase power marketing activities in the region.

  23. Main Characteristics of the Natural Gas Marketing Agreement PROPOSAL TO ENAP 2

  24. Field DevelopmentGas Supply Agreement • Field: To be defined. • Buyer: Enron • Seller: Enap • Term: 10 years. • Start Date: 2002 subject to Enap deliverability. • Daily Contractual Quantity (DCQ): On incremental basis. • Delivery Point: TGS system or any other to be defined by the parties. • Liquids: Buyer will process all available liquids . • Transport Risk: Seller will bear the risk up to Delivery Point and Buyer will bear the risk after Delivery Point.

  25. Field DevelopmentGas Supply Agreement • Price: The price will be fixed on a yearly basis. • DCQ (MM m3/d)TOP(MM m3/day) Annual Price ($/MM Btu) • 2002 1.0 0.6 0.60 • 2003 1.20.7 0.62 • 2004 1.5 0.9 0.64 • 2005 1.8 1.0 0.66 • 2006 2.0 1.2 0.68 • 2007 2.0 1.5 0.70 • 2008 2.0 1.5 0.72 • 2009 2.0 1.5 0.74 • 2010 2.0 1.5 0.76 • 2011 2.5 1.5 0.78

  26. Field DevelopmentGas Supply Agreement • Make-Up: 2 years. Buyer will have the right to recover volumes not taken during those 2 years. • Take or Pay (TOP): the TOP will be calculated on an annual basis. • Seasonal Structures: Buyer will accommodate seasonal structures based upon demand and Enap´s deliverability. • Incremental on annual DCQ : Buyer will have an option to increase annual DCQ upon Enap´s deliverability. • Notification: Seller will notify Buyer with 60 days in advance to increase annual DCQ.

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