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New LNG Supplies Balancing Growing Demand for Cleaner Fuels Doha Conference on Natural Gas 2009 Ahmed Al Khulaifi Chief Operating Officer Commercial and Shipping Qatargas Operating Company Ltd. 9-March, 2009

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Introduction DELIVERING LNG TO THE WORLD New LNG Growth: Facing Economic Downturn Increasing Demand driven by Green Energy Needs LNG: Fuel of the Future Meet requirements to replace declining gas production Bring diversity of supply to importing countries Substitute for coal and liquid fuels in power generation

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BCFD US Recession 73-75 US Recession 80-82 US Recession 90-91 US Recession 01 Asian Financial Crisis 97-98 Soviet Union Collapse Americas Russia Caspian Europe Asia Pacific Middle East Africa FERC Deregulation Economic Downturns Impact on Gas Demand DELIVERING LNG TO THE WORLD Sources: NBER, IEA Oil Price Shock

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Demand for LNG DELIVERING LNG TO THE WORLD New Train Investment Decisions US Recession 90-91 Asian Financial Crisis 97-98 US Recession 01 Global Financial Crisis 09

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Energy Diversity LNGs Role DELIVERING LNG TO THE WORLD Objective: The objective of a diverse energy portfolio is to create a reliable and steady source of supply Achieved By Access to: Multiple forms of energy Multiple sources Benefits: Enables ones country or state to acquire the energy needed to: Fuel economic growth Increase the country's living standard Lower emissions

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LNG A Superior Substitute DELIVERING LNG TO THE WORLD Artist's impression of FSRU under development in Dubai Image courtesy of Dubai Supply Authority

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Gas: A Growing Source of Power Generation DELIVERING LNG TO THE WORLD Source: Wood Mackenzie Energy Markets Service

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Life Cycle Assessment of Greenhouse Gas Emissions DELIVERING LNG TO THE WORLD Extraction Processing/ Liquefaction LNG Tanker Transport Regasification Onshore Pipeline Transport Combustion: Natural Gas CCGT ExtractionProcessing Rail Transportation Combustion: Advance UltraSuper Critical PC Combustion: Average U.S. Coal Combustion: IGCC LNG Coal Source: Pace for Center for Liquefied Natural Gas

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LNG a Smaller Greenhouse Gas Footprint Source: Pace for Center for Liquefied Natural Gas DELIVERING LNG TO THE WORLD

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Conclusions DELIVERING LNG TO THE WORLD Gas Markets Will Rebalance Additional demand from falling gas prices Steeper declines in local production Global economic recovery Continued shift toward cleaner fuels Few Projects in the LNG Project Pipeline Markets will tighten Qatar will do its part to deliver LNG where it is needed Safely and reliably supply LNG to our customers

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Thank You DELIVERING LNG TO THE WORLD