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1 © 2012 Excelerate Energy L.P. All Rights Reserved. © 2012 Excelerate Energy L.P. All Rights Reserved.

Jagadish Mendu

15 April 2012

Excelerate Energy

2 © 2012 Excelerate Energy L.P. All Rights Reserved.

Excelerate Energy makes no representations or warranties, express or implied, of any kind with respect to Information provided in this presentation, including without limitation with respect to the information’s accuracy or completeness. Excelerate Energy will not be liable for any reliance or usage by a third party of any information within this presentation. Any representations or warranties shall be made, if at all, only in definitive written agreements that may be entered into by the Parties.

Disclaimer


Company Profile

• Established in 2003 to pursue opportunities in LNG – Based in The Woodlands, TX

– Developer of proprietary offshore and dockside floating LNG solutions

• Pioneer and world leader in innovative offshore LNG solutions and ship-to-ship transfer of LNG

• Ability to use assets and expertise to maximize LNG value chain

LIQUEFACTION TRANSPORTATION REGASIFICATION TRADING


Excelerate Energy’s History of Innovation

2004 2005 2006 2007 2008 2003 2009 2010 2011

“World’s First Commercial”

LNG Ship-to-Ship Transfer

February 2007

“World’s First Regas Vessel”

Excelsior Delivered

January 2005

Excelerate Energy Formed

July 2003

“First LNG Facility on the US East Coast in 30 Years”

Northeast Gateway Commissioned

May 2008

“South America’s First LNG Import Facility”

Bahia Blanca GasPort Commissioned

June 2008

“100th Ship-to-Ship Transfer of LNG”

Over 12,600,000 m3

of LNG transferred

April 2011

“World’s First At-the-Dock

LNG STS Transfer” Bahia Blanca GasPort

June 2008

“World’s First GasPort” Teesside GasPort

Completed

February 2007

“World’s First Deepwater LNG

Port” Gulf Gateway Commissioned

March 2005

“Middle East’s First LNG Importation Facility”

Mina Al Ahmadi GasPort Commissioned

August 2009

“Argentina’s Second LNG Importation Facility”

Escobar GasPort Commissioned

June 2011


Floating Regasification 2005

EE Floating Terminals: Operating

Gulf Gateway


Floating Regasification 2008

Northeast Gateway

Gulf Gateway

Bahia Blanca

Teesside GasPort

EE Floating Terminals: Operating


Floating Regasification Current Status

Floating Terminals: Approved Floating Terminals: Construction

Northeast Gateway

Neptune LNG

Aguirre GasPort

Gulf Gateway

Pecem

Guanabara Bay

Bahia Blanca

Escobar

Port Meridian

Teesside GasPort

Mina Al Ahmadi

Dubai

Toscana (OLT)

Floating Terminals: Operating EE Floating Terminals:

West Java

Sungai Udang (Melaka)

Israel

VT3

Medan


Floating Regasification Future Opportunities

Floating Terminals: Formal Tenders/Pre Qual/PMC Assigned

Floating Terminals: Direct Discussions

Floating Terminals: Early Interest

2

4

2


The Number of LNG Importing Countries Increasing Rapidly

10

12 12 13

14 15

17 17 18

21

23

25

28

0

5

10

15

20

25

30

2000 2002 2004 2006 2008 2010 2012

# o

f C

ou

ntr

ies

Number of LNG Importing Countries

2000 – 2012: 9% CAGR


Floating LNG Markets Historical Consumption

0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

2008 2009 2010 2011 2012

MTP

A

Argentina Kuwait Brazil Dubai Indonesia Malaysia Israel


New & Growing Markets

• 11 floating regas facilities globally, with 3 more to be commissioned in 2012

– Demand from existing projects to reach ≈10 MMt, with another 1.7 MMt from new projects

– Total imports for 2012 will be around 11.7 mtpa , 65% higher than 2011

• New projects are motivated by – Security of Supply — Cost savings (fuel switching) – Environmental concerns — Demand growth – Rapidity to Market

4.1

2.3 2.0

1.6 0.9 0.8 0.12

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

Argentina Kuwait Brazil Dubai Indonesia Malaysia Israel

MTP

A

LNG Imports From Floating Regas (Est. for 2012)


• Reduced Time to Market – Earlier realization of benefits

from fuel switching

– Quicker solution for critical energy needs

6 to 18 months

48 - 60 months

$50 to $150 million

$500 Million to $1 Billion

Small, Offshore, Low Impact

Significant Onshore and Offshore Civil Works

Gateway / GasPort

Onshore Regasification

• Lower cost of implementation – Fixed infrastructure is a fraction

of the cost of a land-based facility

– Overall cost (vessel and infrastructure) are competitive with land-based economics

Floating Regasification Economic Drivers

• Smaller footprint/impact – Reduced footprint and

environmental impact ideal for sensitive or restricted areas


Short-term Trade Growing With Divertible Supply

• Out of the total 246 MMt of LNG traded in 2011, about 72 MMt was traded under short-term and spot deals

– This is about 29% of the total traded during the year, up by 10% YoY

– Majority of tradable LNG was diverted from U.S. and U.K. (Qatar, Eq. Guinea, Yemen, etc.)

0

50

100

150

200

250

300

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

MM

t

Global LNG Trade

Long-Term Short-Term

Source: Poten & Excelerate Energy

2% 5% 7% 8% 12%

11%

22% 19%

20%

14% 20%

29%


Spot LNG Price Indices & Short-term Trading Growing with Liquidity

• Currently there are three publications printing spot LNG prices

– Platts, ICIS Heren, RIM Intelligence

• Liquidity and availability of published price indices help spot and short-term trading

– Suppliers started referencing short term price indices in contracts for benchmarking

– New market entrants are more confident relying on purchasing cargoes in spot market

Source: Excelerate, Platts, ICIS Heren

0

2

4

6

8

10

12

14

16

18

20

Jan

-08

Mar

-08

May

-08

Jul-

08

Sep

-08

No

v-0

8

Jan

-09

Mar

-09

May

-09

Jul-

09

Sep

-09

No

v-0

9

Jan

-10

Mar

-10

May

-10

Jul-

10

Sep

-10

No

v-1

0

Jan

-11

Mar

-11

May

-11

Jul-

11

Sep

-11

No

v-1

1

Jan

-12

Mar

-12

May

-12

$/M

MB

tu

Asian LNG Price Vs. US Gas Prices Vs. UK as of March 26, 2012

HH UK NBP NEG JKM EAX


EXCELERATE ENERGY L.P. 1450 Lake Robbins Drive, Suite 200 The Woodlands, TX 77380 1 (832) 813-7100 www. excelerateenergy.com

Thank you!

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