1. Madrid, April 1 th 2008 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status

2. 2 LARRAU 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process.  Delays in the French infrastructures side will allow to achieve simultaneously an homogeneous capacity in both directions. Reviewed figure

3. 3 LARRAU  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process.  Delays in the French infrastructures side will allow to achieve simultaneously an homogeneous capacity in both directions 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process.  Delays in the French infrastructures side will allow to achieve simultaneously an homogeneous capacity in both directions.

4. 4  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process. 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status

5. 5  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process.  Delays in the French infrastructures side will allow to achieve simultaneously an homogeneous capacity in both directions. LARRAU Pipeline Falces – Irurzún 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status

6. 6  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process.  Delays in the French infrastructures side will allow to achieve simultaneously an homogeneous capacity in both directions. LARRAU CS Zaragoza 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status

7. 7  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process.  Delays in the French infrastructures side will allow to achieve simultaneously an homogeneous capacity in both directions. LARRAU DECIDED & ON TIME Pipeline Barcelona – Arbós (duplicate) 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status

8. 8 Pipeline Barcelona - Arbós Investment figures are merely tentative and correspond with the current best estimation.

9. 9  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process.  Delays in the French infrastructures side will allow to achieve simultaneously an homogeneous capacity in both directions. LARRAU CS Navarra 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status

10. 10 CS Navarra Investment figures are merely tentative and correspond with the current best estimation.

11. 11  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process.  Delays in the French infrastructures side will allow to achieve simultaneously an homogeneous capacity in both directions. LARRAU Pipeline Lemona – Haro (duplicate) 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status

12. 12 Pipeline Lemona – Haro (duplicate) Investment figures are merely tentative and correspond with the current best estimation.

13. 13  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process.  Delays in the French infrastructures side will allow to achieve simultaneously an homogeneous capacity in both directions. LARRAU Reinforce CS Haro 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status

14. 14 Reinforcement CS Haro Investment figures are merely tentative and correspond with the current best estimation.

15. 15  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process.  Delays in the French infrastructures side will allow to achieve simultaneously an homogeneous capacity in both directions. LARRAU Pipeline Tivissa – Paterna (duplicate) 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status

16. 16 Pipeline Tivissa – Paterna (duplicate) Investment figures are merely tentative and correspond with the current best estimation.

17. 17  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process.  Delays in the French infrastructures side will allow to achieve simultaneously an homogeneous capacity in both directions. LARRAU Pipeline Tivissa – Castelnou (duplicate) 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status

18. 18 Pipeline Tivissa – Castelnou (duplicate) Investment figures are merely tentative and correspond with the current best estimation.

19. 19  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process.  Delays in the French infrastructures side will allow to achieve simultaneously an homogeneous capacity in both directions. LARRAU Pipeline Zarza de Tajo – Villar de Arnedo 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status

20. 20 Pipeline Zarza de Tajo – Villar de Arnedo Investment figures are merely tentative and correspond with the current best estimation.

21. 21  Delays in the Spanish infrastructures side are due mainly to the administrative permitting process.  Delays in the French infrastructures side will allow to achieve simultaneously an homogeneous capacity in both directions. LARRAU CS Villar de Arnedo 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status

22. 22 CS Villar de Arnedo Investment figures are merely tentative and correspond with the current best estimation.

23. 23 5 th SG Meeting South Gas Regional Initiative Spanish Infrastructure Development: Advancement Status

24. 24 5 th SG Meeting South Gas Regional Initiative Infrastructures Development Status after > 1 year

25. Thank you for your attention