22/11/2007GIE Annual Conference Madrid1 26/04/2007GLE1 Investment in LNG Different approaches in EU FRANCISCO DE LA FLOR - GLE PRESIDENT

22/11/2007GIE Annual Conference Madrid2 26/04/2007GLE2 LNG Increasing Demand SOURCE: TOTAL

22/11/2007GIE Annual Conference Madrid3 26/04/2007GLE3 Existing LNG Terminals LNG Terminals under construction / committed LNG Terminals planned/under study LNG Infrastructures in the World 2007 Existing Liquefaction Terminals Liquefaction Terminals under construction/planned/under study (58) (35-40) (70-80) (21) (40-50) SOURCE: PETROLEUM ECONOMIST & LNG JOURNAL

22/11/2007GIE Annual Conference Madrid4 26/04/2007GLE4 SOURCE: NATURAL GAS MARKET REVIEW 2007, IEA bcm bcm bcm Regional Production LNG Imports Pipeline Imports LNG Increasing Demand in OCDE Countries

22/11/2007GIE Annual Conference Madrid5 26/04/2007GLE5 15 Existing LNG Terminals 8 LNG Terminals under construction/ commmitted 23 LNG Terminals under study/planned -LNG plays different roles in each EU country. -LNG regulation differs in each MS depending on national needs and particularities. LNG Terminals in Europe

22/11/2007GIE Annual Conference Madrid6 26/04/2007GLE6 Different Approaches: SPAIN (1) Barcelona - ENAGAS SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Tenerife - GASCAN SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Gijón - ENAGAS SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Gran Canaria-GASCAN SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) COMMITTED/ UNDER CONSTRUCTION Sagunto - SAGGAS SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Cartagena- ENAGAS SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Huelva- ENAGAS SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Ferrol - REGANOSA SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Bilbao - BBG SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) EXISTING UNDER STUDY/PLANNED UNDER EXPANSION PROCESS Demand Growth (PowerGen + Backing-up Renewables) Full r-TPA without exemptions Government’s Infrastructure Mandatory Planning LNG terminals considered Basic Infrastructures as Pipelines and UGSs.

22/11/2007GIE Annual Conference Madrid7 26/04/2007GLE7 Spanish LNG Infrastructures to 2011 Regasification Capacity Number of tanks Storage Capacity

22/11/2007GIE Annual Conference Madrid8 26/04/2007GLE8 Different Approaches: UNITED KINGDOM AngleseyCanvey Island STORAGE (m 3 LNG) Isle of Grain - NGC SEND-OUT (m 3 /h) Nº TANKS EXISTING UNDER STUDY/PLANNED UNDER EXPANSION PROCESS COMMITTED/ UNDER CONSTRUCTION SouthHook – SOUTHOOK LNG SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Dragon – DRAGON LNG SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Cover Increasing Dependency on gas imports Allow Supply Diversification All terminals exempted

22/11/2007GIE Annual Conference Madrid9 26/04/2007GLE9 DIFFERENT APPROACHES: ITALY Panigaglia - SRG SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Adriatic – ADRIATIC LNG SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Brindisi SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Toscana Offshore Rosignano Porto Empedocie Taranto San FerdinandoGioia TauroPrioloTriesteZaule EXISTING UNDER STUDY/PLANNED UNDER EXPANSION PROCESS COMMITTED/ UNDER CONSTRUCTION Cover Increasing Dependency New terminals almost completely exempted (80%) Many projects announced, only few in progress

22/11/2007GIE Annual Conference Madrid10 26/04/2007GLE10 DIFFERENT APROACHES: FRANCE Montoir - GdF SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Fos Tonkin - GdF SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Le Verdon Le Havre Fos-sur-Mer Fos Cavaou – STMFC SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Dunkerque Le Verdon EXISTING UNDER STUDY/PLANNED UNDER EXPANSION PROCESS COMMITTED/ UNDER CONSTRUCTION Supply diversification r-TPA for existing terminals New terminals exempted/regulated ?

22/11/2007GIE Annual Conference Madrid11 26/04/2007GLE11 DIFFERENT APROACHES: BELGIUM Zeebrugge – FLUXYS LNG SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) EXISTING UNDER STUDY/PLANNED UNDER EXPANSION PROCESS COMMITTED/ UNDER CONSTRUCTION Strategic Geographic situation (Zeebrugge Hub) Transition to multi-shipper environment r-TPA with long term contracts

22/11/2007GIE Annual Conference Madrid12 26/04/2007GLE12 Other Approaches: PORTUGAL AND GREECE Revithoussa - DESFA SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) Sines – REN ATLANTICO SEND-OUT (m 3 /h) Nº TANKS STORAGE (m 3 LNG) EXISTING UNDER STUDY/PLANNED UNDER EXPANSION PROCESS COMMITTED/ UNDER CONSTRUCTION Security and diversification of Supply Regulated terminals r-TPA

22/11/2007GIE Annual Conference Madrid13 26/04/2007GLE13 Other Approaches (II): WILHELMSHAFEN GERMANY POLAND SWINOUJSCIE THE NETHERLANDS GATE TERMINAL EEMSHAVEN LIONGAS CROATIA OMISALJ CYPRUS VASSILIKO EXISTING UNDER STUDY/PLANNED UNDER EXPANSION PROCESS COMMITTED/ UNDER CONSTRUCTION Supply diversification. Exempted terminals with long-term contracts. Long permits/authorisations/exemptions phase.

22/11/2007GIE Annual Conference Madrid14 26/04/2007GLE14 EU FUTURE LNG INVESTMENTS Existing (Expansion) Committed/ Under construction Planned/ Under study bn € SOURCE: GLE MAP & ROUGH INTERNAL ASSESSMENT Significant Investments ongoing Allowing Supply Diversification Increasing Gas Supply competition Long-term Commitment (regulatory and/or contractual)

22/11/2007GIE Annual Conference Madrid15 26/04/2007GLE15 THANK YOU FOR YOUR KIND ATTENTION!