Amos Hochstein Special Envoy and Coordinator for International Energy Affairs Bureau of Energy Resources U.S. Department of State Geopolitics and Energy 1

Global Growth in LNG Supply Source: PIRA Qatar Australia United States Three countries represent 60% of global LNG supply by

Global Gas Markets Source: Media and industry estimates. LNG Spot Prices $US/mmbtu Northeast Asia LNG: June 2015 – $7.75 June 2013 – $14.50 Jan – $18.70 Southwest Europe LNG: June 2015 – $6.70 June 2013 – $11.55 Jan – $14.40 Britain’s NBP: June 2015 – $6.60 June 2013 – $9.69 Jan – $10.77 Dutch TTF: June 2015 – $6.54 June 2013 – $10.19 Jan – $10.25 Australia: East Coast – $7.75 3

Global Estimated Proved Gas Reserves 2014 Source: Oil & Gas Journal, Dec Russia Iran Qatar United States Venezuela Nigeria Mozambique China Eastern Med Argentina Australia Russia Iran Qatar United States Venezuela 5558 Nigeria 5061 China 4397 Mozambique 2830 Australia 1205 Argentina 379 Israel 285 Eastern Mediterranean 2695 Middle East Eastern Europe / Eurasia Western Hemisphere Africa Asia-Pacific Western Europe 3720 World Billion Cubic Meters Unconventional hydrocarbon resources are largely “unproven resource potential” globally, except where considerable drilling has been done and resources sufficiently proven up to justify being called “reserves.” 4