Taking a closer look at the Gulf region

Rudolf Huber

Head of Business Development, EconGas GmbH

Rotterdam, 4 March 2009

2

The next twist

And another change

What's left now?

Is there light at the end of the tunnel?

3

Domination of LNG

Big enough?

Innovator?

Central position?

Wishful thinking

Markets create flexibility

Operational needs

World moves quick

5

Sheer potential

Reserves, reserves, …

Size does matter

Problems just as big

6

Not a natural LNG player

No stranded gas

Political reasons

Pipe competition

7

Exporter turns importer

No unity there

Subsidies, subsidies, …

No energy efficiency

8

Uses of LNG

Very, very peaky

The storage conundrum

Any alternative?

9

Anything to spare

Domestic market

Unconventional (sour) gas

Leftovers for LNG?

10

End of the sellers market

Unnatural

Markets always react

When does it bite?

11

Geographies

Asset?

Liability?

The force of a position

12

And now …?

End of carefree living?

Markets counterattack

Next great thing around the corner?

13

Marketing LNG – not only BBD

Deal with buyers hardship

Real partnership

Markets evaporate (US, India, …)

14

What's the LNG premium

Noble form of gas?

Any value in flexibility?

Who needs my gas more?

15

A commodity?

Not freely tradable

No transparent quotes

Relationship driven

16

Cost of going downstream

Not HQ driven

Growing complexity of market

Service is our success

17

Partnership – still an issue

Demand destruction

Financability of projects

Flexibility realized

18

The nanosecond LNG world

Market conditions change on a whim

Myriads of new players

Sound fundamentals help

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► EconGas GmbH

ARES Tower, Donau-City-Strasse 11, 1220 Vienna, Austria

www.econgas.com