China s First LNG Import Terminal

1. China’s First LNG Import Terminal LNG 14 Doha, Qatar

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3. 3 Guangdong Province

4. 4 Guangdong Energy Demand Fast growing market with high affordability 39 million population Per capita GDP of $6248 vs. national average $850, Economic growth 18% p.a. in the last 5 years vs. China’s 8%. Pent-up energy demand Lacks of indigenous resources & imports around 75% of its energy needs. Power consumption CAGR was 14% for the past 10 years and is expected to grow at 7% pa. until 2010. Power as anchor demand, accounting for 80% of gas demand Analogue with Taiwan Fast growing market with high affordability 39 million population Per capita GDP of $6248 vs. national average $850, Economic growth 18% p.a. in the last 5 years vs. China’s 8%. Pent-up energy demand Lacks of indigenous resources & imports around 75% of its energy needs. Power consumption CAGR was 14% for the past 10 years and is expected to grow at 7% pa. until 2010. Power as anchor demand, accounting for 80% of gas demand Analogue with Taiwan

5. 5 Pearl River Delta

6. 6 Initial Gas Sales

7. 7 Initial Project Development 1995 CNOOC / Shenzhen studies 1999 SDPC Listing 2001 BP Selected as Foreign Partner Establishment of Joint Executive Office 2003 Feasibility Study Approved

8. 8 JV Company

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11. 11 Commercial Arrangements

12. 12 China’s First LNG Import Terminal