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LNG UPDATE SUEZ Energy North America, Inc. SUEZ LNG North America, LLC Calypso LNG Project, Florida Presentation to Flo

sssssssssssssssssssssssssssssssssssssssssssssssssssssssuez. LNG UPDATE SUEZ Energy North America, Inc. SUEZ LNG North America, LLC Calypso LNG Project, Florida Presentation to Florida Gas Utility July 12, 2006. LNG Update. Global LNG Update U.S. East Coast LNG terminals

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LNG UPDATE SUEZ Energy North America, Inc. SUEZ LNG North America, LLC Calypso LNG Project, Florida Presentation to Flo

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  1. sssssssssssssssssssssssssssssssssssssssssssssssssssssssuez LNG UPDATE SUEZ Energy North America, Inc. SUEZ LNG North America, LLC Calypso LNG Project, Florida Presentation to Florida Gas Utility July 12, 2006

  2. LNG Update • Global LNG Update • U.S. East Coast LNG terminals • Markets trade globally • LNG supply is evolving • Florida LNG Update • Proposed Florida projects • Calypso LNG project(s) • New England is a peninsular market just like Florida • Case Study – Everett LNG Terminal in Boston

  3. North American East Coast TerminalsLean LNG Supply is Required Existing Regasification Terminals: 1.) Everett, MA – Suez LNG 2.) Elba Island, GA – Southern LNG 3.) Cove Point, MD – Dominion LNG Approved Under Construction: 2.) Elba Island, GA – Southern LNG (expansion) 4.) Canaport - St. John, NB - Irving Oil / Repsol Approved Not Yet Under Construction: 3.) Cove Point, MD – Dominion LNG (expansion) 5.) Weaver’s Cove - Fall River, MA - Hess LNG 6.) Crown Landing LNG – Logan Township, NJ - BP Filed Terminals Not Yet Approved: 7.) Calyspo – Bahamas & Offshore FL – Suez LNG 8.) Neptune LNG – Offshore MA – Suez LNG 9.) Broadwater LNG - Long Island Sound, NY – TransCanada / Shell 10.) Northeast Gateway – Offshore MA - Excelerate 11.) Ocean Express - Bahamas – AES Approved, Construction Halted: 12.) Bear Head - Point Tupper, NS - Anadarko Source – FERC as of June 15, 2006 12 4 1 10 8 5 9 6 3 3 2 2 7 11

  4. LNG Market is Global • The three major gas consuming regions have shifting influences on world market • North American gas markets have the most price transparency and the most elastic demand of the three major LNG consuming regions. • Except for long term commitments, market players in North America are willing to forego planned LNG deliveries when more profitable opportunities are available elsewhere in the U.S., Europe, and to a lesser extent Asia • European gas markets are supplied by pipelines from the North Sea, Russia, and North Africa in addition to imported LNG. • Portions of European demand are becoming driven by power generation. • Asian gas markets are permanently short gas supply (no local resources) and exhibit the least amount of transparency with respect to demand and pricing. • Most LNG is imported under long term contracts. • China and India could become more of an influence. • Based on shipping distances and costs, LNG supply tends to have an Atlantic Basin or Pacific Basin bias. • As a result of region’s characteristics, North America is evolving as the hub around which global LNG markets are balanced. • Markets are linked to common – but competing – sources of supply, and worldwide prices will track at a common level, though with local and regional basis differentials

  5. LNG Supply is Evolving • There are more natural gas reserves worldwide than crude oil reserves, but as yet gas is largely an untapped resource. • Ample lean supply for Florida and other U.S. east coast terminals • Major oil and gas producers and others will increasingly pursue the same global, low-cost, scale economy, reliable strategies as they have with oil. • Resource owners (countries) have become more sophisticated market players and are seeking more involvement in product marketing. • The demand for new gas is driving the need for new larger LNG projects and associated resources. • capital, credit, steel, shipyard slots, pipe mill capacity • Gas and oil differ in that two factors will limit the formation of OPEC-like activity • Certain major producing countries will not participate. • No “major ap” for gas is analogous to oil’s use for transport fuels.

  6. Status of Florida LNG Projects • South Florida Projects • Calypso • Florida Deepwater Port – DWP and FERC permitting • Bahamas Land-based Terminal – awaiting government approval • AES • Bahamas Terminal – awaiting government approval • El Paso • FERC pipeline permitting • Gulf of Mexico • Onshore • Chevron, Gulf LNG – FERC permitting • Deepwater Ports • Conoco-Phillips, TORP, Main Pass – DWP and FERC permitting

  7. Calypso’s Priority - Serving Florida’s Market Needs

  8. What is the Calypso Deepwater Port?

  9. Calypso Deepwater Port (DWP)Location and Visibility

  10. Application & Permitting Schedule

  11. Freeport Harbour Terminal & Calypso Pipeline

  12. Who is SUEZ?

  13. Everett LNG Terminal Access to MarketNew England is a Peninsular Market Just Like Florida Suez LNG’s Everett Terminal in Boston Tennessee Gas Pipeline Algonquin Gas Transmission • Storage Capacity at Everett– 3.4 Bcf gas equivalent of LNG • Vaporization Capacity – 700,000 MMBtu/day sustained & 1 Bcf/day peak • On average, Suez LNG NA meets about 20% of annual regional demand • LNG from Everett can meet 35% of New England’s gas demand on peak days • Main Pipelines in New England and Interconnections with Everett LNG Terminal • Algonquin Pipeline (AGT) -- Direct Access • Tennessee Gas Pipeline (TGP) -- Direct Access • KeySpan (Boston Gas) and Other Upstream Utilities -- Backhaul • KeySpan (Boston Gas) and Mystic Power Plant – Direct Access • Trucking sendout is about 100,000 MMBtu/day in Winter for gas peakshaving • LNG Terminal is located downstream from historic pipeline bottlenecks

  14. Reference Information • Suez Energy North America http://www.suezenergyna.com/ • Suez LNG North America http://www.suezenergyna.com/ourcompanies/lngna.shtml • Calypso U.S. Pipeline http://www.suezenergyna.com/ourcompanies/calypso.shtml • Neptune LNG (New England Deepwater Port) http://www.suezenergyna.com/ourcompanies/lngna-neptune.shtml • Neptune LNG Brochure http://www.suezenergyna.com/ourcompanies/NeptuneMech.pdf • Neptune LNG Film Clip (download for best viewing – online viewing may be slow)http://www.suezenergyna.com/ourcompanies/Neptune.mpg • Distrigas of Massachusetts – Everett Terminal http://www.suezenergyna.com/ourcompanies/lngna-domac.shtml • Tractebel Gas Engineering & Tractebel Marine Engineering http://www.tractebel.de/8.0.html • U.S. Coast Guard Deepwater Ports Division http://www.uscg.mil/hq/g-m/mso/mso5.htm • U.S. Maritime Administration Deepwater Ports licensing http://marad.dot.gov/dwp/

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