Monday 16th April 2012 (See page 5 for details)

With Presentations From:RWE, ENI, SHELL,

CONTINENTAL GAS, GASUNIE, CEDIGAZ & CENTRICA

Monday 16th April 2012 (See page 5 for details)

Hosted By:Michael Denison & Jonathan Wood

CONTROL RISKS

To Register: Call +44 (0) 20 7017 7200, Fax: +44 (0) 20 7017 7807, Email: info@icbi.co.uk For the latest programme and to register, please visit: www.icbi-flame.com

Paper sourcedfrom sustainable forests

ElementalChlorine Free(ECF)

Stefan JudischChief Executive Officer

RWE SUPPLY & TRADING

Rune BjornsonSenior Vice President

STATOIL

Mike SticeSenior Vice

President-Natural GasProjects

CHESAPEAKE ENERGY

Philip LoweDirector General, Energy DGEUROPEAN COMMISSION

Peter HagenGeneral Manager Gas

Commercialization, Europe,Eurasia & Middle East

CHEVRON

Gerhard KonigMember of the Board ofDirectors & Chairman

WINTERSHALL & WINGAS

Roger TuckerSenior Vice President

BG GROUP

NEW CEO INTERVIEW

New Interview With A Leading CEOHear insights from & put your questions to renowned industry leaderKlaus Schäfer, CEO, E.ON RUHRGAS & E.ON ENERGY TRADING

New Flame Coffee House DiscussionsMake the most of the fact that over 700+ senior gas industry members aregathered together at Flame 2012 by arranging to meet with old friends andnew acquaintances in our comfy coffee house

New Head To Head Debate On Contract PricingHear Jonathan Stern of OIES and Thierry Bros of SOCIETE GENERALEdebate the issue of “ Are Oil Linked Contracts A Thing Of The Past? “

New Flame 2012 Industry Working GroupsParticipate in informal Q&A with industry figures and take the opportunity toshare thoughts with your peers.

New Academic Research On The Chinese &Japanese Gas MarketsHear about China’s gas appetite & Japan’s evolving energy policy

www.icbi-flame.com

Share The Expertise & Experiences Of 130+ Leading Gas Industry Speakers

Setting The Agenda For Europe’s Globalising Gas & LNG Markets

Klaus SchäferChief Executive Officer

E.ON RUHRGAS & E.ONENERGY TRADING

Hotel Okura, Amsterdam

750+Attendees

In 2011!

The 18th AnnualRegister by 3rd February 2012 & Save up to £900

The Economy

Dr Fatih BirolChief Economist

THE INTERNATIONALENERGY AGENCY

The USA

Howard GruenspechtActing Administrator

U.S. ENERGYINFORMATION

ADMINISTRATION

Futurist Europe

Patrick DixonCEO

GLOBAL CHANGE

Gas Trading

Nick AllenManager of European Gas &Power Trading & Origination

CONOCOPHILLIPS

Geo-Politics

§

Robert JohnstonHead, Global Energy &

Macro EconomicsEURASIA

Energy Policy

Dieter HelmEconomist & Fellow,

New CollegeOXFORD UNIVERSITY

Australian LNG

Alan CopelandManager Of Resources

AUSTRALIAN BUREAU OFRESOURCES AND ENERGY

ECONOMICS

Gain Essential Insights Into The Biggest Issues Impacting The Industry

New For 2012! Brand New Programme Features

& Even More Networking Opportunities

David Wells Vice President Global

LNG SupplySHELL

Jonty ShepardHead Of LNG Trading

BP

Alaa AbuJbaraCOO, Commercial &

ShippingQATAR GAS

Philip OlivierPresident

GDF SUEZ LNG

Improve Your Industry Knowledge At Our Two New Forums

PLUS! Hear The Latest In Risk Management At A Brand New WorkshopFriday 20th April (See page 12 for details)

Discover What Constitutes A Best In Class Risk Management Division Within An Energy Company

Hosted By: LACIMA GROUP

PLUS! Join 200+ LNG Experts At The Global LNG Summit

Key Themes Under Discussion For 2012 Include:• LNG Supply & Demand • Japanese LNG Demand • FLNG• New LNG Sources • Australian LNG Supply • LNG Trading

16th April 2012: LNG Summit & 2 Forums17th -19th April 2012:Main Conference20th April 2012:Market & Credit RiskManagement Workshop

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Market & Credit Risk For Energy Portfolios

Monday 16th April 2012 (See page 2 for details)

FKN Flame B 2012_FLAME 2010 20/12/2011 13:58 Page 2

For latest programme and to register: www.icbi-flame.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk 2

The Flame Programme HighlightsFlame offers the most comprehensive programme in the gas industry!

In over 5 days and 120 in-depth sessions with over 130 expert speakers, Flame covers gassupply & demand, the future for the energy mix after the Fukishima crisis, LNG flows,

security of supply, storage, transportation, trading, investment, global projects &Unconventional gas.

Put Your Questions To An Industry Thought Leader....Klaus Schäfer, CEO,

E.ON RUHRGAS & CEO, EON ENRGY TRADING

Discover How Volatile Economic Times Will Impact The Gas Industry….

Dr Fatih Birol, Chief Economist, INTERNATIONAL ENERGY AGENCY

Get The Head’s Up On The Geopolitical Hotspots To Watch…

Robert JohnstonHead, Global Energy & Macro Economics, EURASIA GROUP

Make Sure Your Company Is Well Positioned To Cater For The Europe Of The Future….Patrick Dixon, CEO, GLOBAL CHANGE

Determine The Global Role For U.S. Gas & The Impact On Current Flows…

Mike Stice, Senior Vice President – Natural Gas Projects,CHESAPEAKE ENERGY & Chief Executive Officer,

CHESAPEAKE MIDSTREAM PARTNERS, L.P.

Pinpoint The Next Areas Facing Financial Boom And Bust….

Vikram Mansharamani, Lecturer, YALE UNIVERSITY & AuthorBOOMBUSTOLOGY

THE FLAME 2012 CEO INTERVIEW

THE GUEST ECONOMIC ADDRESS

GEOPOLITICAL AROUND THE WORLD BRIEFING

FUTURIST PREDICTIONS FOR EUROPE

SPECIAL U.S. GAS INDUSTRY FOCUS

FUTURE GLOBAL BOOM & BUST EXPERT ADDRESS

Networking Champagne RoundtablesSip a glass of champagne and discuss the key themes raised during the day.

Each table has a theme that picks up on topics mentioned during the day and is hosted by with an expertspeaker. Make sure you sign up to enjoy a more interactive experience with an exclusive

group of 8-10 likeminded industry membersMonday - from 18.00

Outlook For LNG Shipping Charter (Or Freight) Rates

Andrew BucklandWOOD MACKENZIE

The Evolution Of LNG TradingJonty Shepard

BP

Latest Developments In FLNG Øivin Iversen

HÖEGH LNG AS

THE GLOBAL LNG SUMMITMonday 16th April

07.30 Registration & Coffee

08.20 Chairman’s Opening Address - Richard Tyler, Partner, Energy Industry Group, HOGAN LOVELLS

THE GLOBAL LNG FLOW OUTLOOK

08.30

The Global LNG Demand ForecastMapping Global LNG Demand Shifts & Determining If There Is Enough LNG Entering

The Market To Sate Increasing Global AppetiteHoward V. Rogers, Director, Natural Gas Research Programme

OXFORD INSTITUTE FOR ENERGY STUDIES

08.55

JAPAN UPDATEIs the Japanese Market Over-Committing To LNG?

Understanding The Drivers Behind Japanese LNG Demand & Determining Long Term LNG Requirements

Hiroshi Hashimoto, Senior Researcher, Gas GroupINSTITUTE OF ENERGY ECONOMICS, JAPAN

09.20

LNG DEMAND DEBATE The Global Tug Of War

In The Wake Of The Fukishima Crisis & Increased Asian Demand, Can Europe Attract Enough LNG Cargos & At What Cost?

Panel Moderator: Graham Hartnell, Manager, LNG & Gas Consulting, POTEN & PARTNERSPanellists: Guy Broggi, Head Of LNG Supply, TOTAL GAS & POWER

Philip Olivier, President, GDF SUEZ LNGDavid Fuller, Global Head Of LNG, RWE SUPPLY & TRADING

David Wells, Vice President Global LNG Supply, SHELL

10.10 Morning Coffee

LNG SUPPLY UPDATESChairman For LNG Supply Session & Discussion

David Ledesma, Independent Consultant, SOUTH COURT LTD

10.40NEW LNG SOURCES

Exploring The Unexpected New LNG Supply To Be Exported Post 2015: Israel, Iraq, North American, West Africa (Tanzania, Mozambique)

Leslie Palti-Guzman, Analyst, Global Energy & Natural Resources, EURASIA

11.05QATARGAS FOCUS

The Achievements Of QatarGas’s Production & Insight Into Future Plans Alaa AbuJbara, COO, Commercial & Shipping, QATARGAS

11.30

AUSTRALIA INSIGHT How Are The LNG Projects Progressing & What Is The Outlook &

Timeline For Australian LNG Production?Alan Copeland, Manager Of Resources

AUSTRALIAN BUREAU OF RESOURCES AND ENERGY ECONOMICS

11.55 Global Supply & Demand Panel Round-Up

12.15 Lunch & Networking

UNDERSTANDING THE SHIFTING GLOBAL MARKET DYNAMICS

13.30Analysing The Global LNG Shipping Patterns Of The Past Year

Are There Enough Ships To Carry LNG Cargos? How Many Ships Are Contracted Vs Flexible Cargos? What Does The Order Book For New LNG Ships Look Like?

Andrew Buckland, Senior LNG Shipping Analyst, WOOD MACKENZIE

13.55 Looking At Global LNG From An IOC’s Perspective Patrick J. Blough, VP For Gas Commercialization, CHEVRON

14.20

LNG: THE TRADER’S OUTLOOK14.20 - 14.40 - How Quickly Will The Spot Market Grow?

Will Ship Availability & The General Preference For Long Term LNG Contracts Always Restrict Spot Market Evolution?

Speaker tbc14.40 - 15.30 - Trader Discussion

How Is The Market Changing, How Are Traders Adapting & In A Tightening Market What Is The Role Of The LNG Trader?

Moderator: Ben Wetherall, Global LNG Markets Editor, ICIS HERENPanellists:

Christophe Malet, Former Director LNG Trading, EXCELERATE ENERGYJonty Shepard, Head Of LNG Trading, BP

Marcio Bastos Demori, LNG Trading Manager, PETROBRAS GAS & ENERGYAndrew Slocum, Executive Director, LNG Market & Trade, JP MORGAN

Gregorio Morales Schmid, LNG Trading Manager, REPSOL GAS NATURAL 15.30 Afternoon Tea

NEW DEVELOPMENTS IN THE LNG MARKET

16.00THE USA AS AN LNG EXPORTER

Exploring American Policy And Regulatory Issues, Navigating The Process & Understanding The Latest Developments

Patrick Nevins, Partner, HOGAN LOVELLS

16.25TERMINAL DEVELOPMENT IN EUROPE

LNG Terminals, A Vital Role To Play In The Construction Of The European Internal Gas Market Thierry Trouvé, Chief Executive Officer, ELENGY

16.50THE ATLANTIC BASIN

What Does The Future Hold For Atlantic Basin LNG & What’s In The Project Pipeline?Phil Carter, Grain LNG’s Head Of Commercial, NATIONAL GRID

17.15

FLNG SPOTLIGHT15mins - New Project Showcase

Insight Into Shell’s Prelude Project: Understanding Its Future Implications For The LNG MarketDavid Wells, Vice President Global LNG Supply, SHELL

15mins - FLNG Commercial AnalysisExploring The Commercial Aspects Of The FLNG Market:

What Is The Market Demand & Determining The Production CostsØivin Iversen, Vice President, FPSO Business Area, HÖEGH LNG AS

15mins - FLNG Vs LNGWill FLNG Be More Commercially Viable Than Conventional LNG Production Plants In The Long Term?

Wouter Pastoor, Vice President Business Development, FLEX LNG

18.00 Networking Champagne Roundtables

18.30 Flame Welcome Drinks

Enhance Your Industry Knowledge & Make New

Contacts At Our Two NEW Monday Forums

Latest Developments In Australian LNG

Alan Copeland, AUSTRALIANBUREAU OF RESOURCES AND

ENERGY ECONOMICS

Monday 16th April 2012The Security of Supply Forum

Hosted by Michael Denison & Jonathan Wood, CONTROL RISKSSee pgs 5 & 7 for more details

Monday 16th April 2012The Storage & Flexibilty Forum

With presentations from: RWE, ENI, SHELL, CONTINENTAL GAS, GASUNIE,

CEDIGAZ & CENTRICA See pg 5 for more details

‘Meet The Speaker’ VIP Lunch TablesThis is your chance to chat with the leading speakers at Flame over a relaxed seated lunch. Ask them to

elaborate on points made during their presentation or take the opportunity to put your ideas to the people shaping the gas industry. Sign up for the table of your choice below:

Monday - 12.15 - 13.30

Hiroshi Hashimoto, INSTITUTE OF ENERGY ECONOMICS, JAPAN

Howard Rogers, OXFORD INSTITUTE FOR ENERGY STUDIES

Guy Broggi, TOTAL GAS & POWER

Leslie Guzman, EURASIA

PLUS! Don’t Forget To Sign Up For The New NetworkingFeatures At The LNG Summit

Delegatesregistering forthese Forums

can move freelybetween both!

FKN Flame B 2012_FLAME 2010 20/12/2011 13:58 Page 3

3

NEW! The Flame Coffee House

Make the most of the fact that over 750+senior gas industry members are gathered

together at Flame 2012 by arranging tomeet with old friends and new

acquaintances for a proper barista coffee inour fantastic coffee house and networking

zone. The Flame Coffee House will be openand serving drinks throughout the

conference to ensure you always canalways locate a spot for a planned or

impromptu meeting!

Meet The Speaker VIP Lunch TablesThis is your chance to chat with the leadingspeakers at Flame over a relaxed seated

lunch. Ask them to elaborate on pointsmade during their presentation or take theopportunity to put your ideas to the peopleshaping the gas industry. Sign up for the

table of your choice below:

Tuesday -12.55 - 14.05

Laszlo Varro, IEA

Wolfgang PetersRWE SUPPLY & TRADING

Patrick Dixon, GLOBAL CHANGE

Julian LeeCENTRE FOR GLOBAL ENERGY

STUDIES

Networking ChampagneRoundtables

Sip a glass of champagne and discuss the key themes raised during the day.

Each table has a theme that picks up on topics mentioned during the day and is

hosted by an expert speaker.Make sure you sign up to enjoy a

more interactive experience with an exclusive group of 8-10

likeminded industry members

Tuesday From 18.45

Extra Features

& Interactive Sessions

For Day

1

TheSymbiosis Of Gas &

RenewablesJan von Drathen, E.ON

CLIMATE &RENEWABLES

Main Conference, Day 1 Tuesday 17th April 2012

Thought Leadership For The Gas Industry Of The Future07.30 Registration & Coffee

08.10Chairman’s Opening Welcome

Steve Wardlaw, Partner, BAKER BOTTS

08.20Global Economic Address

The Global Economy & The State Of The Gas MarketWhat Will The Euro-Zone Crisis & The Prospect Of A Global Recession Mean For Future Gas Production & Consumption?

Dr Fatih Birol, Chief Economist, IEA

08.50Industry Address

What Role Will Natural Gas To Play In A Decarbonising World/Europe?Rune Bjornson, Senior Vice President, STATOIL

09.15Gas In A Decarbonising World

How Will Climate Change Regulations & Developments In The Power Sector Impact The Long Term Role Of Gas?EXXONMOBIL INTERNATIONAL (Speaker under invitation, check www.icbi.flame.com for details)

09.40 Morning Coffee

10.15 The Flame 2012 Gas Industry Thought Leader InterviewJonathan Stern interviews leading industry figure Klaus Schäfer, CEO, E.ON TRADING & E.ON RUHRGAS

10.55Exploring The European Gas Midstream Business

Where We Are And Where Are We Most Likely To Go?Stefan Judisch, CEO, RWE SUPPLY & TRADING

11.15

Industry Leader DiscussionDetermining The Future For The European Midstream Business

Stefan Judisch, CEO, RWE SUPPLY & TRADINGKlaus Schäfer, CEO, E.ON TRADING & E.ON RUHRGAS

Gerhard Konig, Member Of The Board Of Directors & Chairman, WINTERSHALL & WINGASRune Bjornson, Senior Vice President, Natural Gas, STATOIL

11.50European Commission Address       

Determining The Role Of Gas, Nuclear Energy & Renewable Energies In European Policy & The Future Fuel Mix For The EuropePhilip Lowe, Director General, Energy DG, EUROPEAN COMMISSION

12.15Futurist Predictions For Europe

What Will Europe’s Population Of The Future Look Like, How Will It Behave And How Does The Gas Industry Need To Prepare For Future Demographic Shifts?Patrick Dixon, CEO, GLOBAL CHANGE

12.55 Lunch + Meet The Speaker Lunch Tables

14.05Exploring The Evolution Of European Energy Policy

Understanding The Proposed Role For Gas In Decarbonisation & The Impact Shale Gas Will Have On Energy Policy Decisions Moving ForwardDieter Helm, Economist & Fellow, New College, OXFORD UNIVERSITY

14.45Oil Price Expert Predictions

What is The Short, Medium & Long-Term Outlook For Oil Prices & What Will The Direct Impact On Other Energy Sources Be?Julian Lee, Senior Energy Analyst, CENTRE FOR GLOBAL ENERGY STUDIES

15.15

Security Of SupplyChatham House Research Address

Exploring The Economics And Politics Of Transit Pipelines & The Future Implications For Security Of Supply In Europe Professor Paul Stevens, Senior Research Fellow, Energy, CHATHAM HOUSE

15.40Shale Gas In Europe

Exploring The Developments In European Shale GasPeter Hagen, General Manager Gas Commercialisation, Europe, Eurasia & Middle East, CHEVRON

16.00

The Industry Barometer (With Electronic Polling)Discussing The Global Gas Market: Gas Demand, Supplies & LNG

Moderator: Jonathan Stern, Chairman, Natural Gas Research Programme & Senior Research Fellow, OXFORD INSTITUTE FOR ENERGY STUDIESWolfgang Peters, Head of Supply & Capacity Caspian, Central Asia & Russia, RWE SUPPLY & TRADING

Roger Tucker, Senior Vice President Europe, BG GROUPLaszlo Varro, Head of Gas and Electricity, INTERNATIONAL ENERGY AGENCY

Peter Hagen, General Manager Gas Commercialization, Europe, Eurasia & Middle East, CHEVRON16.45 Afternoon Tea for Speakers & Delegates

Stream AGlobal Gas Trading

Chairman: Mike Fulwood, NEXANT

Stream BCreating A Liberalised European Gas Market

Stream CRenewables & Gas To Power

Chairman: Anouk Honore, OIES

Stream DAchieving European Security Of SupplyChairman: Phil Murphy, BG GROUP

17.15

Will We See The Death Of Oil-Indexation In Long-Term Contracts?

To What Extent Will Spot Pricing Dominate Long-Term Contracts And How Can This Be

Achieved?Andrew Morris

PÖYRY MANAGEMENT CONSULTING

The Third Package Exploring What Is Left To Achieve &

Determining What The Industry Will Look LikeAfter Third Package Has Been Implemented?

Francisco De La Flor GarciaENAGAS

Investment Into Gas Fired Power PlantsWhat's Their Potential In The Flexibility And

Capacity MarketsReinhard Rümler

PwC

Security Of SupplyUnderstanding The Main Challenges And DriversFor Achieving Security Of Supply Within Europe

Georgina Kladis-KalentziDELOITTE LLP UK

17.40

Competition Vs Market RegulationExploring The Evolution Of Each Country’sInternal Market Alongside The Development Of The European Market: Will There Still Be

Intra-European Hub Competition In The Future & What Are The Benefits?

Speaker tbc

Network Codes Are We Rushing The Details?

Ensuring The Network Codes Are Fully Ready To Come To The Market: Determining What

Still Needs To Be Ironed Out?Sean Waring

INTERCONNECTOR

Attracting The Capital For Gas-To-PowerWho Can Do It, The Role Of Subsidies And

Incentives And Providing The Right FrameworkStefan Jorg Gobel

STATKRAFT

Supply & Demand Assessing Expectations In Europe:

When Will We See A Tightening In Demand &Supply & How Long Is This Predicted To Last?

Vladimir RakhmaninENERGY CHARTER SECRETARIAT

18.05

The New Market Reality For European GasHow Did The Demand Pattern &

Supply Opportunities OF The Last WinterDemonstrate The New Reality For Our

Liberalised European Market?Speaker tbc

European Single Gas MarketWhat Will It Look Like And What Are

The Key Regulatory Challenges: A European Regulators Perspective?

Pamela Taylor, OFGEM

The Symbiosis Of Renewables And Gas What Does It Take To Accomplish This?

A Case Study From SpainJan van Drathen

EON

Norwegian Gas UpdateWill Norway Explore Further North For Gas & What Are The Prospects For Norwegian

Gas Beyond 2020?Erik Johnsen, NORWEGIAN MINISTRY

OF PETROLEUM AND ENERGY

18.30

NEW! The Flame 2012 Industry Working GroupsJoin forces with Flame’s expert speakers & become part of an industry working group. This session offers the chance for informal Q&A with industry figures and the opportunity

to share your thoughts with your peers. The perfect setting to explore the impact of the presentations you have just heard!

18.45 Networking Champagne Roundtables

18.45 Welcome Drinks Party

Gas Trading Of The Future What Is The Future For European Energy Policy?

Can Gas Be The Bridging Fuel For Renewables?

What Stands In The Way Of European Supply Security?

TheThird Package: What Remains?

Francisco P. de la FlorGarcia, ENAGAS

TheFuture For

Norwegian GasErik Johnsen, NORWEGIAN

MINISTRY OFPETROLEUM AND

ENERGY

TheFuture For Gas

To PowerStefan-Jörg Göbel

STATKRAFTMARKETS

NetworkCodes: Are We

Rushing The Details?Sean Waring

INTERCONNECTOR

AchievingA Single European

MarketPamela Taylor

OFGEM

AchievingA Scalable Gas To

Power MarketAnouk Honore

OIES

FKN Flame B 2012_FLAME 2010 20/12/2011 13:58 Page 4

Extra Features

& Interactive Sessions

For Days 2&3

4

Main Conference, Day 2Wednesday 18th April 2012

Predicting Future Trends In The European Gas Market 08.00 Morning Coffee08.20 Chairman’s Opening Address - Guy Fasanino, Vice-President Marketing And Sales, GRT GAZ

08.30The Reality Of A Single Gas Market

How Is The Gas Industry Shaping Up To Achieve A Single European Gas Market, What Are The Challenges & When Remains To Be Implemented?Alistair Buchanen, CEO, OFGEM

08.55 Creating A Vision For The European Gas MarketKurt Pedersen, Executive Vice President, DONG ENERGY

09.05

Creating A Vision For The European Gas Market: Balancing Supply & Demand, Storage & LNG Trading, Regulation & The Free Market:

How Far Are We From Achieving The Right Market Design & What Stands In Our Way?Paul van Gelder, CEO, GASUNIE

Kurt Pedersen, Executive Vice President, DONG ENERGY Stuart Bradford, Head Of Marketing Strategy & Analysis, SHELL

Stephen Kamphues, President, ENTSOG

EUROPEAN GAS INDUSTRY TASK FORCE

09.50-

11.10

Achieving Security Of Supply For Europe09:50: EU Commission Address

How Far Are We From Achieving Security Of Supply For Europe & What Factors Stand In Our Way?Jean-Arnold Vinois, Head of Energy Policy & Security of Supply, EUROPEAN COMMISSION DG TREN

10:15: Geopolitical Around The World Briefing: MENA, Europe, Russia, Asia & North AmericaExploring The Current Geopolitical Hotspots Following A Turbulent 2011 & Predicting The New Geo-Political Challenges Moving Forward

Robert Johnston, Head, Global Energy & Macro Economics, EURASIA GROUP10:45: Guest Industry Address:

Understanding The Impact Of New LNG Terminals & Pipelines Coming On Line: How Will These New Sources Of Supply Change The Supply & Circulation Of Gas In Europe?

Ben Hollins, Head of European Gas & Power, WOOD MACKENZIE

11.10 Morning Coffee

The Global Market Outlook

11.40-

13.00

The US Gas Market In Focus11:40: U.S. EIA Address

Examining The Current and Projected Supply and Demand Conditions For Natural Gas In The USAHoward Gruenspecht, Acting Administrator, U.S. ENERGY INFORMATION ADMINISTRATION

12:00: Shale Gas ProductionHow Is The US Shale Gas Market Developing & What Challenges Do The US Producers Of Shale Currently Face?J. Mike Stice, Senior Vice President – Natural Gas Projects, CHESAPEAKE ENERGY & Chief Executive Officer

CHESAPEAKE MIDSTREAM PARTNERS, L.P.12:20: US Gas Export

What Is The Timeline For The Liquefaction & Export Of US Shale Gas & When Will It Enter The Global Gas Market?Jean Abiteboul, President, CHENIERE SUPPLY & MARKETING

12:40: Understanding The Global Impact Of The US Shale Revolution: Open Audience Q&A

13.00 Lunch & Meet The Speaker Lunchtables

14.10 Credit And The Future Of Gas & LNG ProjectsJason Bennett, Partner, BAKER BOTTS

14.30-

15.50

Russia 14.30: Guest Economic Address - Exploring The Global Challenge To Russia's Gas Industry

Vladimir Drebentsov, Head of Russia & CIS Economics, BP14:50: Analysing The Russian Market: Exploring Domestic Gas Policy In Russia & Determining The Outlook For Russia’s Foreign Policy

Tatiana Mitrova, Head of Global Energy, SKOLOKOVO ENERGY CENTRE15:10: Arctic LNG Progress Report: Examining The Current Success & Future Challenges Of Novatek’s Yamal LNG Project

Mark Gyetvay, Chief Financial Officer Deputy Chairman of The Management Board & Member of The Board Of Directors, NOVATEK15:30: Open Audience Q&A & Panel Discussion

15.50The Prospects For Australia

An Insight Into How Australian CBM Production Could Change LNG Flows: Could Australia Become The Biggest Exporter OF LNG By 2020 & Can Australia Overcome The Challenges To Achieve On-Time Delivery To The Market?

Janet Hann, General Manager, CSG/LNG Project, ORIGIN ENERGY, AUSTRALIA

16.15 Afternoon Tea for Speakers & Delegates

Stream ACreating A Liberalised European Market

Stream BExploring The Future For Natural Gas

Chairman: Andrew Knights, DELOITTE LLP UKStream C

New Developments In Storage & FlexibilityStream D

Exploring DevelopmentsIn The Global Gas Market

16.45

GERMANY FOCUSHelmut Kusterer, GASVERSORGUNG

SUEDDEUTSCHLANDSession 1: Energy Policy

The Role Of Gas In The New German Energy Policy

Stephanie NevelingGERMAN FEDERAL NETWORK AGENCY

Session 2: Market DesignDetermining The Right Market Design

& Gas/ Renewable Balance For A Post-Nuclear German Market?

Ruediger MuellerENBW GAS MIDSTREAM

Round Up Discussion & Audience Q&A

How Could Unconventional Gas Change TheDynamics Of The UK's Gas Market?

How Shale Gas Will Impact Europe's MostLiberalised Market: Supply Mix,

Security & PricesLucy Field

PÖYRY MANAGEMENT CONSULTING

Storing Energy In Europe TomorrowWhere And What For?

Jean-Marc LeroySTORENGY

Adapting To The 2050 Roadmap –The Role Of LNG In Europe

Donovan WaiteSOUTH HOOK GAS

17.10

Australian CBMWhat Is The Export Potential For Australian

LNG & When Will It Come Online?Mark Rowley

BAKER BOTTS

Summer/Winter SpreadHow To Operate In A World Of Decreasing

Summer/Winter Spreads?Bert Kiewiet

KEMA

Understanding The Japanese MarketExploring The Japanese Energy Scene & The Impact Of Unconventional LNG On

The Asia Pacific MarketHiroshi KondoTOKYO GAS

17.35Investing In European Security Of Supply

Klaus ReinischPETRONAS ENERGY TRADING LIMITED

The Global Market In TransitionThe Impacts Of Innovation, Technology &

GlobalizationPorter Bennett, BENTEK ENERGY

Carbon Capture StorageUnderstanding The Latest Developments In

CCS & Transmission & Examining The Outlook For The Price Of CO2

Speaker tbc

Understanding The Latest DevelopmentsIn The Spanish Gas Market

What Is On The Horizon?Victor Tunon, GAS NATURAL

18.00

Achieving UnbundlingWhat Needs To Be Done For Countries To

Align With The Unbundling Package & AchieveAdequate Separation Between Commercial

And Non-Commercial Activities?Dominique Jamme, CRE

The New Market Reality For European GasHow Did The Demand Pattern &

Supply Opportunities OF The Last Winter Demonstrate The New Reality For

Our Liberalised European Market?Speaker tbc

Why Do Seasonal Spreads Not Reflect TheFull Value Of Storage?

What Is The Outlook For Seasonal Spreads And What Other Factors Influence The Value

Of Storage Capacity?Lubor Veleba, RWE GAS STORAGE

Supply Diversification In CEEHow Can The CEE Develop Strategies

To Diversify Its Gas Sourcing?David Viduna

CEZ

18.25

NEW! The Flame 2012 Industry Working GroupsJoin forces with Flame’s expert speakers & become part of an industry working group. This session offers the chance for informal Q&A with industry figures

and the opportunity to share your thoughts with your peers. The perfect setting to explore the impact of the presentations you have just heard!

18.40 The Flame 2012 Cocktail Party

Meet The Speaker VIP Lunch TablesThis is your chance to chat with the leadingspeakers at Flame over a relaxed seated

lunch. Ask them to elaborate on pointsmade during their presentation or take the opportunity to put your ideas to the peopleshaping the gas industry. Sign up for the

table of your choice below:

Wednesday: 13.00 - 14.10

Mark Gyetvay, NOVATEK

Tatiana MitrovaSKOLOKOVO ENERGY CENTRE

Ben Hollins, WOOD MACKENZIE

Jean AbiteboulCHENIERE SUPPLY &

MARKETING

Robert Johnston, EURASIA GROUP

Stephan Kamphues, ENTSOG

Thursday: 13.10 - 14.15Thierry Trouve

SOCIETE GENERALE

Vikram MansharamaniYALE UNIVERSITY

And Here’s A Reminder Of Who You Can

Meet And Network With At Flame 2012

The FlameCommunitySnapshot

The Flame community

comprises 750+ senior

industry attendees who travel

to Amsterdam from over 33

countries worldwide and

represent over 96 global gas

& energy companies. It truly

is the European meeting

place for the global gas

community!

For latest programme and to register: www.icbi-flame.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk

Exploring The Path To EuropeanLiberalisation

What Are The Biggest Game Changers For Natural Gas?

Exploring The Impact Of The LesseningSummer/Winter Spread

What Do The Global Trends Mean For The European Gas Market?

Investment/ Banks 6%

Regulator/ Consumer

8%

Trading & Transportation

18%

IT/ Lawyer/ Consultant

9%Oil, Gas & Energy

Major59%

Flame 2011 Company Breakdown

FKN Flame B 2012_FLAME 2010 20/12/2011 13:58 Page 5

Main Conference, Day 3Thursday 19th April 2012

Achieving EU Liberalisation & Exploring The Evolution Of Gas Market Dynamics08.00 Morning Coffee08.20 Chairman’s Opening Address

08.30 How Is The Customer Benefitting From The Liberalized Market?Benoît Pouzieux, Head of Key Accounts, GRT GAZ

08.50Are We Still In A Buyer’s Market?

Exploring The Effects Of Pricing On Global Gas DemandDavid Gallagher, Head Of Gas, VITOL

09.10What The Spot Is Going On With Gas Prices?

How To See The Market Developments That Really Matter & Where Will Prices Go Next?Robert Minsaas, Managing Director, ECLIPSE ENERGY

09.35

The Flame 2012 Gas Trading DiscussionExploring The Evolution Of Gas Trading In Europe:

What Remains To Be Achieved & How Can We Improve Market Dynamics?Colin Lyle, Board Member & Gas Committee Chairman, EFET

Edouard Sauvage, Head Of Gas Supply, GDF SUEZ Jose Simon, Director Gas Supply & Portfolio Management, IBERDROLA

Nick Allen, Manager Of European Gas & Power Trading & Origination, CONOCOPHILLIPS

10.10Determining The Long Term Contract Formula For The European Gas MarketAre Oil-Linked Contracts A Thing Of The Past And How Can We Update Pricing Formulas To Meet

The Demands Of The Modern Natural Gas Industry?Jonathan Stern, OXFORD INSTITUTE FOR ENERGY STUDIES

Versus - Thierry Bros, Senior Energy Analyst, SOCIENTE GENERALE

THE FLAME 2012 DEBATE

10.50 Morning Coffee

The Future For The Energy Market

11.15The Roadmap For 2050

How Does The Roadmap Achieve A Low-Carbon Economy In Europe, In Line With The Energy Security, Environmental And Economic Goals Of The European Union?

Arne Mogren, Programme Director, Power, EUROPEAN CLIMATE FOUNDATION

11.40

Investing In InfrastructureWhat Are The Drivers For Investment In Gas Infrastructure & What Can The Industry And

Policy Makers Do To Make Investment In Infrastructure More Appealing In These Volatile Times?Jean-Claude Depail, President, GIE

& Member Of The Executive Committee For Infrastructure, GDF SUEZ

12.05Innovation In The Energy Markets

Exploring The Impact Of Innovation In A Competitive Energy MarketGertjan Lankhorst, CEO, GASTERRA

12.30Predicting Future Global Booms & Busts

Where Should We Be Watching & What Will Be The Expected Impact On The Global Economy?Vikram Mansharamani, Lecturer, YALE UNIVERSITY & Author, BOOMBUSTOLOGY

13.10 Lunch & Meet The Speaker LunchtablesStream A

Creating A LiberalisedEuropean Gas Market

Stream BGlobal Gas Trading

& Storage

Stream CThe Investment Climate &

Security Of Supply

Stream DThe Flame 2012 NewResearch Showcase

14.15

The Capacity AllocationMechanism

How Will It Be Implemented And How Will The Market

Be Kept Informed? Stephan Kamphues

ENTSOG

Flexibility In TradingExploring The Role And TheValue Of Flexibility Within A

Trading PortfolioGuido Custers

DELTA ENERGY

Bringing Caspian Gas To Europe:

Exploring The Technical,Commercial And PoliticalChallenges For A Pipeline

ProjectKjetil Tungland

TRANS ADRIATIC PIPELINE

Where Are Global GasMarkets Heading In The

Next 5 Years?• Are global markets getting

tighter?• Asymmetric regional

patterns : is Asia the keyfor growth?

• Is Europe becoming moreor less dependent onRussian gas?

• Will North America “relink”itself to global gas markets?

Anne Sophie Corbeau, IEA

14.40

Exploring The Future Of The European

Mid-Stream BusinessJesco von Kistowski

ECONGAS

What Are The Drivers ForSpot Market Development?

Understanding The HighSummer Prices And Lack OfAnnual Price Fluctuations In

Recent Years: What Does ThisIndicate About Spot Market

Behaviour?Bert den Ouden

APX-ENDEX

The Financing Of Global Gas Projects

How Can Gas InfrastructureProjects Secure The NeededInvestment When Everyone

Is Fighting For The Same Dollar?

Paul Shapiro, EBRD

Shale Gas Working GroupSession 1:

When And How Will Shale Gas Matter in Europe?

James ElstonPALLADIAN ENERGY

Session 2:A First Look At The Findings In Poland

Understanding The PotentialSize Of The Unconventional

Gas Market In Europe& What This Could Mean For

European Supply SecurityPaweł Poprawa

POLISH GEOLOGICALINSTITUTE

Round Up Discussion &Audience Q&A

15.05

Gas To Power In A Partially Liberalised European Market:

What Are The Barriers ToGrowing Gas To Power And

How Can We Overcome Them?

Martin GiesenADVANCED POWER

Energy Storage Integration: Should We Be Aiming For

Combined Electricity, Power & Gas Storage & Is The Really Achievable & What Are The Risks &

Opportunities?Stephan Dewald, WINGAS

The Future Of The Southern CorridorAzerbaijan, Iraq And

Turkmenistan Gas Exports To Europe

Jen Coolidge, CMX CASPIANGULF CONSULTANTS

15.30

Exploring The Creation &Integration Of A North-West

European Market:What Has Been Achieved &

What Challenges Are Ahead?Pascal De Buck, FLUXYS

Storage Vs LNGCould LNG Be A Substitute

For Gas Storage?Simon Sydenham

CENTRICA STORAGE

North Sea GasWhat Is The Outlook

For Future Years?Thor Otto Lohne

GASSCO

Gas For TransportationExploring The IncreasingPopularity Of Natural Gas In The Transport Sector

Robert LesnickTHE WORLD BANK

15.55Exploring The New Italian

Balancing MarketFrancesco Cariello

ITALIAN REGULATOR

MIFID & Dodd-FrankHow Will New Trading

Market Regulation Impact The Energy Industry?

Alex McDonald, WMBA

White StreamExploring The Progress

of the 2nd – Black Sea EntryPoint for Caspian gas into theEU: Facilitating Investments In

The Upstream And Trans-Caspian PipelineGiorgi Vashakmadze

WHITE STREAM

New Research On ChinaWhat Impact Does China’sEnergy Appetite Have OnGlobal Oil & Gas Prices &

How Is This Likely To Evolve?Xiaoyi Mu

UNIVERSITY OF DUNDEE

16.20

NEW! The Flame 2012 Industry Working GroupsJoin forces with Flame’s expert speakers & become part of an industry working group. This session offers

the chance for informal Q&A with industry figures and the opportunity to share your thoughts with your peers. The perfect setting to explore the impact of the presentations you have just heard!

17.00 End Of Main Conference

5

The Storage & Flexibility ForumAchieving Flexibility In Europe’s Evolving Markets

Monday 16th April 201208.30 Registration & Coffee

09.30 Chairman’s Opening AddressPeter Taff, Independent Consultant

09.45

Intermittent Renewal Generation And Gas StorageHow The Demand For Flexibility And Value Of European Storage Will Change

Due To The Increase In Intermittent Renewable Generation. What Storage Types & Location Will Be Winners & Losers

James Cox, Principal Consultant, PÖYRY MANAGEMENT CONSULTING

10.15Storage Analysis

Assessing Storage In European Markets: Evaluating Available StorageVs Current & Expected Demand

Thierry Rouad, General Secretary, CEDIGAZ

10.45 Q&A & Interactive Discussion11.10 Morning Coffee

11.40How Do You Value Flexibility?

What Is The New Value Of Storage And Flexibility In Light Of LNG Availability & The Reduction In Summer/Winter Spread?

Bertan Atalay, Co-Founder & CEO, CONTINENTAL GAS STORAGE

12.10Storage & The Summer/Winter Spread Of The Future

What Is The Outlook For Future Seasonal Spreads & Will It Lead To More Or Less Competitive Economies For Storage?

Paolo Formica, Senior Vice President, ENI UK

12.40 Q&A & Interactive Discussion

13.00 Lunch & Networking

14.00The Rough Guide To Third Party Access

Experience From A Decade Of Commercial Storage OperationsSimon Wills, Managing Director, CENTRICA STORAGE

14.30An Example Of A Successful 3rd Party Access Storage Service -

The Successes And ChallengesWillem Faber, Managing Director, BBL & Managing Director

GASUNIE ZUIDWENDING

15.00

Panel DiscussionExploring Third Party Access To/Market For Storage In Europe:

What Is The Reality?Is Third Party Access To Storage Really Achievable For Traders & Smaller Players &

How Simple/Economic Is It To Gain Access & Is the Auction Process Successful?Moderator: Peter Taff, Independent Consultant

Panellists:Didier Magne, Head of Continental Gas Trading, RWE SUPPLY & TRADING

Simon Wills, Managing Director, CENTRICA STORAGEWillem Faber, Managing Director, BBL & Managing Director, GASUNIE ZUIDWENDING

15.45 Afternoon Tea

16.15Extracting The Full Commercial Value From Storage

How Can Storage Owners Work With Partners Who Have Trading Expertise ToImprove Utilisation Of Existing Storage & Create Additional Income?

Thorsten Dinkela, Head Of Business Development Northern Europe, SHELL

16.45

Is Storage Competitive?In Current Economic Markets Is Storage Profitable & Deemed A Quantifiable

Investment Opportunity Or Are Subsidies Required To Make New Storage Projects Attractive?

Thomas Schrey, Managing Director, ENBW CRYSTAL STORAGE

17.15Exploring The Demand For & Use Of UGS In A Liberalised Market:

What Opportunities & Challenges Do We Face?Michael Kreuz, Head Of Storage Department, OMV

17.45 Concluding Discussion & Q&A

18.00 Drinks Reception

The Global Security Of Supply Forum

Market Coupling:Will It Work?

How Will Depressed MarketsImpact Gas Trading?

How To Attract Investment InUncertain Times

Q&A With The Expert Speakers:What Do You Want To Know

More About?

For latest programme and to register: www.icbi-flame.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk

Participants will gain a comprehensive grounding in global gas politics and geopolitics and an insight into how it willshape the European gas market. This Forum will complement the commercial, economic and technical aspects of the

industry discussed in the Flame Main Conference.

Monday16th April 2012

09.30-

17.00

• Analysing The Global Geopolitical Outlook & The Impact For Security Of Supply

• Exploring The Global And Regional Natural Gas Supply/Demand Balance For The Next Decade

• Defining & Clarifying What We Mean By Supply Security: Whose Security, Who Benefits?

• Examining National Gas Policies Of Key Producer/Consumer States And Are There Changes On The Horizon?

• Analysing The Geopolitically Contentious Transit Routes And The Impact Of LNG On Natural Gas Supply:Assessing Whether Security Of Supply Still A Live Issue For European Consumers

• Fitting The Natural Gas Policies Of Key Producing And Consuming Countries Into A Broader InternationalFramework Of Geopolitical Constraints And Opportunities

• Examining Scenarios For Future Supply Shocks: How Might They Arise, Who Would Be Affected, And How WillAnd Should Governments, Institutions And Corporations Respond To Downstream Supply Disruptions?

• Planning For Future Sudden Supply Shocks: Mitigating Political And Security Risk

• Exploring Key Determinants And Drivers Of Eurasian Gas Geopolitics

About Your Expert Forum Leaders Dr Michael DenisonResearch DirectorCONTROL RISKSMichael heads Control Risks’ team of analysts.He is also involved in designing and managingwider consultancy projects and workshops for

individual clients, and speaks regularly on glob al political riskissues affecting the energy sector. Michael has a diverse mixof experience in policy-making, the private sector andacademia. Michael was formerly Lecturer in InternationalSecurity at the University of Leeds and Visiting Fellow at theUniversity of St Andrews. His academic specialism is Eurasianpolitical economy and security and he has published widely inEurope-Asia Studies, Asian Affairs, Ost Europa, The WorldToday and IISS Strategic Survey.

Jonathan WoodPractice Leader, Global IssuesCONTROL RISKSJonathan provides analysis andconsultancy on global business risks.Jonathan’s portfolio covers geopolitical risk,

energy security, climate change, business integrity,maritime piracy, transnational terrorism, and direct action.Jonathan tracks the implications of significant geopoliticaland security developments for commercial activity. Healso provides tailored analytical reports to the oil and gas,mining, shipping, insurance, financial services, retail,construction and technology sectors.

Delegates registering foreither of these Forums

can move freely between both!

Delegates registering foreither of these Forums

can move freely between both!

FKN Flame B 2012_FLAME 2010 20/12/2011 13:59 Page 6

07.30

Registration & Coffee

08.20

Chairman’s Opening AddressRichard Tyler, Partner, Energy Industry Group, HOGANLOVELLSRichard Tyler is an expert on pipeline gas and LNG contracts with more than 15years industry experience. He has worked on LNG projects in Norway, PapuaNew Guinea, Nigeria, UK, France, Belgium and the Netherlands. He is currentlyworking as Project Counsel on the Shah Deniz Stage 2 Gas Project.

THE GLOBAL LNG FLOWOUTLOOK

08.30

The Global LNG Demand ForecastMapping Global LNG Demand Shifts & Determining If There IsEnough LNG Entering The Market To Sate Increasing GlobalAppetite

Howard V. Rogers, Director,Natural Gas Research ProgrammeOXFORD INSTITUTE FOR ENERGY STUDIESHoward has spent much of his career in upstream oil and gas businessdevelopment and strategy. He retired from BP in 2008 after a career of 29years. This included postings to the US, Kuwait and Azerbaijan. He is currently

researching the future potential for inter-regional gas price linkages under a range ofscenarios.

08.55

JAPAN UPDATE

Is the Japanese Market Over-Committing To LNG?Understanding The Drivers Behind Japanese LNG Demand &Determining Long Term LNG Requirements

Hiroshi Hashimoto, Senior Researcher, Gas GroupINSTITUTE OF ENERGY ECONOMICS, JAPAN Hiroshi has been in his current role since April 2010, after serving as a naturalgas analyst at the International Energy Agency (IEA) from May 2006 to March2010. Before 2006, Hiroshi worked for Tokyo Gas in Japan for 20 years,assuming positions in LNG procurement business development, the New YorkRepresentative Office and the Sodegaura LNG receiving terminal.

09.20

LNG DEMAND DEBATEThe Global Tug Of War

In The Wake Of The Fukishima Crisis & Increa Asian Demand,Can Europe Attract Enough LNG Cargos & At What Cost?

Panel Moderator: Graham Hartnell, Manager, LNG & Gas ConsultingPOTEN & PARTNERSMr Graham Hartnell leads LNG & Gas Consulting activities for Poten &Partners in London. He has over 25 years of experience in the oil and gasindustries. He began his career in the oil and gas exploration sector and has

subsequently worked in a variety of upstream and downstream roles in a wide range ofcountries across the globe.

Panellists:Guy Broggi, Head Of LNG Supply, TOTAL GAS & POWERGuy is responsible for supplying Total’s LNG portfolio through long-term salescontracts. He was appointed Head of LNG Supply in 2006 after having held anumber of technical and commercial posts, specially focused, in the last twentyyears, on the commercial development of the LNG business for Total aroundthe world.

Philip Olivier, President, GDF SUEZ LNGPrior to his current role, Philip Olivier was President & CEO of Suez GlobalLNG. After the merger with Gaz de France, Mr Olivier became President ofGDF SUEZ LNG, the business unit responsible for the management of allGroup’s LNG supply and vessel chartering contracts, for optimization of theGroup’s LNG portfolio, and for LNG business development including newmarkets, new supplies and investments in liquefaction plants.

David FullerGlobal Head Of LNGRWE SUPPLY & TRADINGDuring his career David has led a number of strategic energy investments suchas UK Interconnector, Grain LNG and now Excelerate Energy. He isresponsible for the RWE LNG business from liquefaction through to

regasification and is a Board member of Excelerate Energy.

David WellsVice President Global LNG SupplySHELL David is responsible for Shell’s LNG procurement and supply optimizationactivities world-wide. The majority of his career has been spent in various rolesin crude oil and products trading, oil supply, non-fuels marketing and refinery

production planning.

10.10 Coffee

LNG SUPPLY & DEMANDUPDATES

10.40

NEW LNG SOURCESExploring The Unexpected New LNG Supply To Be ExportedPost 2015: Israel, Iraq, North American, West Africa (Tanzania,Mozambique)

Leslie Palti-GuzmanAnalyst, Global Energy & Natural ResourcesEURASIALeslie Palti-Guzman’s research focuses on global natural gas markets, with anemphasis on global liquefied natural gas (LNG) and European energy markets.Prior to joining Eurasia Group, Leslie was the senior natural gas and LNG

correspondent at Energy Intelligence Group in New York. She covered LNG markets in theAtlantic Basin, European unconventional gas, and European security of gas supply. Herarticles were published in the company’s several publications, including World GasIntelligence, International Oil Daily, Petroleum Intelligence Weekly and Energy Compass.

11.05

QATARGAS FOCUSThe Achievements Of QatarGas’s Production & Insight IntoFuture Plans

Alaa AbuJbara, COO, Commercial & ShippingQATARGASAlaa joined the Qatar Liquefied Gas Company in 1996 moving from theGeneral Services to Public Relations Manager (1998) to General Manager ofthe Japan Liaison Office (2003). In 2006, he was appointed as the MarketingDirector of the Qatargas Operating Company.

11.30

AUSTRALIA INSIGHTHow Are The LNG Projects Progressing & What Is The Outlook& Timeline For Australian LNG Production?

Alan Copeland, Manager Of Resources, AUSTRALIAN BUREAU OF RESOURCES AND ENERGYECONOMICSAlan has over 10 years experience in resource market analysis and managesBREE's minerals and energy commodity research program. Responsibilitiesinclude overseeing short and medium term forecasting for mineral and energy

commodities and managing BREE's resource related research. Prior to taking up his currentrole, Alan worked in the energy consulting and commodity trading industries.

11.55

Global Supply & Demand Panel Round-Up

12.15 Lunch & Networking

UNDERSTANDING THESHIFTING GLOBAL MARKET

DYNAMICS13.30

Analysing The Global LNG Shipping Patterns Of The Past Year

Are There Enough Ships To Carry LNG Cargos? How ManyShips Are Contracted Vs Flexible Cargos? What Does TheOrder Book For New LNG Ships Look Like?

Andrew Buckland, Senior LNG Shipping AnalystWOOD MACKENZIEAndrew Buckland is responsible for all research relating to LNG shipping andproducing the shipping section of their LNG Service (including FLNG). Andrewalso advises across the Wood Mackenzie research and consulting teams onshipping matters. For the six years prior to joining Wood Mackenzie in 2009,Andrew was an independent Shipping consultant.

13.55

Looking At Global LNG From An IOC’s Perspective Patrick J. Blough, VP, Gas Commercialization, CHEVRONPat is responsible for LNG Marketing and Trading as well as providing broadcommercial support on international gas projects to Chevron Global Upstreamand Chevron Corporate Business Development. Prior to this position, he wasVice President Business Development & Commercial for Chevron Global Gas.

LNG: THE TRADER’SOUTLOOK

14:20 - 14:40

How Quickly Will The Spot Market Grow? Will Ship Availability & The General Preference For Long TermLNG Contracts Always Restrict Spot Market Evolution?

14:40 - 15:30

LNG Trading DiscussionHow Is The Market Changing, How Are Traders Adapting & InA Tightening Market What Is The Role Of The LNG Trader? Moderator: Ben Wetherall, Global LNG Markets EditorICIS HEREN Ben Wetherall is the editor of ICIS Heren’s weekly LNG publication Global LNG Markets. Hespecialises in covering developments in short-term LNG trading.Prior to joining ICIS Heren in 2010, Ben worked as a consultant for Gas Strategies and hasworked as a political risk analyst for IHS Global Insight where he specialised in political andenergy risk assessments in Russia, CIS and the Caspian region.

Panellists: Christophe Malet, Former Director LNG TradingEXCELERATE ENERGYChristophe Malet is the former Director LNG Trading at Excelerate Energy.Christophe joined Excelerate in 2010 after 14 years of commercial experienceat Shell. He started his career in Oil Products and held various Sales andMarketing roles before joining Shell’s commercial global LNG team in 2005.

Christophe was involved with LNG origination and short-term trading and as Lead Negotiatorwith longer-term LNG marketing and LNG projects development.

Jonty Shepard, Head Of LNG TradingBPJonty currently has responsibility for the management of upstream contracts inTrinidad and Egypt, a fleet of 7 LNG carriers, regas facilities in the UnitedStates, UK, Spain and Italy, as well as long term customer contracts throughoutAsia.

Marcio Bastos DemoriLNG Trading ManagerPETROBRAS GAS & ENERGYMarcio joined Petrobras' natural gas commercial department in 2001. He hasexpertise in negotiating and managing several gas sales agreements with localdistribution companies and power generators, as well as gas purchaseagreements with local producers in Brazil of associated and non-associated

gas. He is involved in Petrobras' LNG developments since 2004, participating on theimplementation of the 2 regasification terminals in Brazil since conception, structuring the LNGsupply strategy and contractual arrangements.

Andrew SlocumExecutive Director, LNG Market & TradeJP MORGANAndrew focuses on providing physical and financial risk management solutionsto clients involved in the LNG business, the optimization of J.P.Morgan'sregasification terminal positions in both North America and Europe and themanagement of associated marketing ventures. He also directs LNG client

coverage for the firm’s investment banking activities globally.

Gregorio Morales SchmidLNG Trading ManagerREPSOL GAS NATURAL Prior to his current role at Repsol- Gas Natural LNG, Gregorio has also workedas the LNG Trading Coordinater and an LNG Trader. Gregorio started hiscareer in 2001 at Gas Natural in the Supply&Trading Direction and moved in

2005 to Stream where he received the LNG Trading Manager of the company award in 2007.

15.30 Afternoon Tea

NEW DEVELOPMENTS INTHE LNG MARKET

16.00

THE USA AS AN LNG EXPORTERExploring American Policy and Regulatory Issues, NavigatingThe Process & Understanding The Latest Developments

Patrick Nevins, PartnerHOGAN LOVELLSJ. Patrick Nevins is a partner in the Washington, D.C. office of Hogan Lovells.He has nearly 20 years of experience representing energy companies,particularly in the natural gas industry, in regulatory matters, administrativelitigation, project development, and commercial contracting. He represents

clients with respect to customer contracting and regulatory strategy forinfrastructure projects, including LNG projects, gas pipeline and storage facilities, andprocessing plants.

16.25

TERMINAL DEVELOPMENT IN EUROPELNG Terminals, A Vital Role To Play In The Construction OfThe European Internal Gas Market

Thierry Trouvé, Chief Executive OfficerELENGYThierry first joined the French Ministry of Defense in 1990. Six years later, hewas appointed as Deputy Director for the French Department of Industry. Hethen joined the French Energy Regulatory Commission (CRE) to head theelectricity market division. From 2003 to 2006, he held the position of Directorfor Risk and Pollution Prevention at the French Department of Environment.

From 2006 to 2008, he was the Executive Vice President of GRTgaz.

16.50

THE ATLANTIC BASINWhat Does The Future Hold For Atlantic Basin

LNG & What’s In The Project Pipeline? Phil Carter, Grain LNG’s Head Of CommercialNATIONAL GRIDPhil has been involved in Liquified Natural Gas for the last 8 years: leadingthe Grain phase 3 expansion project through to successful deal completion;responsible for obtaining the Regulated Third Party Access exemptions forall 3 phases as well as running the open season capacity auctions for both

expansions. As part of the Grain LNG leadership team Phil currently has responsibility forthe commercial and regulatory aspects of both Grain LNG and National Grid’s LNGStorage business.

17.15

FLNG SPOTLIGHT15mins

New Project ShowcaseInsight Into Shell’s Prelude Project:

Understanding Its Future Implications For The LNG MarketDavid Wells, Vice President Global LNG Supply, SHELL See biography previously

15minsFLNG Commercial Analysis

Exploring The Commercial Aspects Of The FLNG Market

What Is The Market Demand & Determining The ProductionCosts

Øivin Iversen, Vice President, FPSO Business AreaHÖEGH LNG ASØivin has been involved in the Neptune LNG Project off the coast ofMassachusetts, where LNG shuttle and Regasifications vessels will be applied.He was responsible for the execution of the LNG FPSO FEED being conductedat Höegh LNG with CB&I and DSME as main contractors. Mr. Iversen has

worked with development of LNG carriers and floating LNG terminals solutions for more than12 years. Currently he is responsible for the business development within the LNG FPSOBusiness Area at Höegh LNG.

15minsFLNG Vs LNG

Will FLNG Be More Commercially Viable Than ConventionalLNG Production Plants In The Long Term?

Wouter PastoorVice President Business DevelopmentFLEX LNGFrom 2002 to 2008, Wouter Pastoor worked for Ship Classification Society DetNorske Veritas (DNV) and got deeply involved in LNG carrier technologies as aproject manager for engineering and research support. He continued his LNG

related work as a Ship Newbuilding Manager for offshore LNG projects for shipowningcompany Höegh LNG before he started in early 2008 at FLEX LNG.

18.00 Networking Champagne Roundtables - see pg 2 for further details

18.30

Flame Welcome Drinks

MONDAY 16TH APRIL

THE GLOBAL LNG SUMMIT

For latest programme and to register: www.icbi-flame.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk6

Delegates registered for the LNG Summit can also attend theStorage & Flexibility Forum & Security Of Supply Forum

FREE OF CHARGE!

FKN Flame B 2012_FLAME 2010 20/12/2011 13:59 Page 7

For latest programme and to register: www.icbi-flame.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk 7

Tuesday 17th April 2012

MAIN CONFERENCE DAY ONEDAY

1

THOUGHT LEADERSHIPFOR THE GAS INDUSTRY

OF THE FUTURE07.30

Registration & Coffee

08.10

Chairman’s Opening WelcomeSteve Wardlaw, PartnerBAKER BOTTSSteve is the partner in charge for the firm's Moscow office. He has in-depthexperience of all aspects of large scale energy, project, and corporate matters,particularly the structuring and development of liberalised markets in theenergy sector. He has advised on many Russian / CIS energy issues forleading energy companies.

08.20

Global Economic AddressThe Global Economy & The State

Of The Gas Market What Will The Euro-Zone Crisis & The Prospect Of A GlobalRecession Mean For Future Gas Production & Consumption?

Dr Fatih Birol, Chief Economist, IEADr. Fatih Birol is the Chief Economist of the International Energy Agency, withoverall responsibility for the organisation’s economic analysis of energy andclimate change policy. He oversees the annual World Energy Outlook which isthe flagship publication of the IEA and is recognised as the most authoritativesource for energy analysis and projections. He is also responsible for the IEAEnergy Business Council which provides policymakers with a business

perspective on energy market issues. Throughout his career, Dr. Birol has been decoratedwith numerous awards in recognition of his contribution to the energy debate. He wasrecently named by Forbes Magazine as the world’s fourth most powerful person in terms ofinfluence on the world’s energy scene. Prior to joining the IEA in 1995, Dr. Birol worked for sixyears at the Organisation of the Petroleum Exporting Countries (OPEC) in Vienna.

08.50

Industry AddressNatural Gas To Play A Key Role In A DecarbonisingWorld/Europe • Implications of climate and energy regulations on energy systems• Why natural gas is pivotal for a long term energy solution

Rune Bjornson, Senior Vice President, Natural GasSTATOILSince joining Statoil in 1985, Mr. Bjørnson has held numerous managementpositions in Statoil’s natural gas business area. He was a Vice President andheaded up Statoil’s UK office from 2001 to 2003. Today his mainresponsibilities cover all areas of Statoil’s natural gas business includingmarketing, trading and sales of pipeline natural gas from European, US and

Caspian gas assets. In addition he is responsible for Statoil’s overall gas supply planning andoptimization, and for marketing and trading of liquefied natural gas (LNG).

09.15

Gas In A Decarbonising WorldHow Will Climate Change Regulations & Developments In ThePower Sector Impact The Long Term Role Of Gas?

EXXONMOBIL(Speaker under invitation, check www.icbi.flame.com for details)

09.40

Morning Coffee

10.15

The Flame 2012 Gas Industry Thought Leader InterviewKlaus Schäfer, CEOE.ON RUHRGAS & E.ON ENERGY TRADINGKlaus Schäfer was appointed CEO of E.ON Ruhrgas AG in August 2010.E.ON Ruhrgas is the steering company responsible for the international gasbusiness within the E.ON group. Since October 2011 he is additionally theCEO of E.ON Energy Trading SE, the company responsible for energy tradingand optimization activities within the group.

Interviewed byJonathan Stern, Director Gas ResearchOXFORD INSTITUTE FOR ENERGY STUDIESAlongside his current position, Jonathan is also Honorary Professor at theCentre for Energy, Petroleum & Mineral Law & Policy, University of Dundeeand Visiting Professor at Imperial College’s Centre for Environmental Policy.He has published extensively on natural gas and security issues

10.55

Exploring The European Gas Midstream BusinessWhere We Are And Where Will We Most Likely Go?

Stefan JudischCEORWE SUPPLY & TRADINGStefan is responsible for all aspects of the company’s gas business includinggas portfolio management, all LNG activities, the long-term gas supply, gastrading and gas business development.

11:15

Industry Leader DiscussionDetermining The Future For The European MidstreamBusinessStefan Judisch, CEORWE SUPPLY & TRADINGSee biography above

Klaus Schäfer, CEOE.ON RUHRGAS & E.ON ENERGY TRADINGSee biography above

Dr. Gerhard König, Member Of The Board Of Directors, WINTERSHALL & Chairman, WINGASDr König joined Wingas in 2002 as the Managing Director For Sales in Europe.In October 2009 Dr König moved into his current role.

Rune Bjornson, Senior Vice President, Natural Gas, STATOIL See biography above

11.50

European Commission AddressDetermining The Role Of Gas, Nuclear Energy & RenewableEnergies In European Policy & The Future Fuel Mix For TheEurope

Philip Lowe, Director General, Energy DGEUROPEAN COMMISSIONFollowing a period in the manufacturing industry, Philip Lowe joined theEuropean Commission in 1973, and held a range of senior posts as Chef deCabinet and Director in the fields of regional development, agriculture, transportand administration, before becoming Director-General of the Development DGin 1997. From September 2002 he was Director-General of the Competition DG

until he took up his current appointment as Director-General of the Energy DG in February2010.

12.15

Futurist Predictions For EuropeWhat Will Europe’s Population Of The Future Look Like, HowWill It Behave And How Does The Gas Industry Need ToPrepare For Future Demographic Shifts

Patrick Dixon, CEO, GLOBAL CHANGEPatrick Dixon is often described in the media as Europe’s leading futurist. He isa dynamic, provocative and entertaining speaker who advises many of theworld’s largest corporations on key trends, managing uncertainty, identi¬fyingrisk and developing opportunities. He digs deep into the strategy of eachorganization, and creates a unique presentation for each event. He has

successfully identified hundreds of future business innovations. Patrick has been ranked asone of the world’s 20 most influential business thinkers alive by Thinkers 50 (2005).Successful entrepreneur and physician by first training. Author of 12 books in 24 languagesincluding Futurewise and Building A Better Business. His websites have had 11 million uniquevisitors and over 700,000 have watched his videos.

12.55 Lunch + Meet The Speaker Lunch Tables14.05

Exploring The Evolution Of The European Energy Policy

Understanding The Proposed Role For Gas InDecarbonisation & The Impact Shale Gas Will Have OnEnergy Policy Decisions Moving Forward

Dieter Helm, Economist & Fellow, New CollegeOXFORD UNIVERSITYDieter is an economist, specialising in utilities, infrastructure, regulation and theenvironment & concentrates on the energy, water and transport sectors inBritain and Europe. He founded OXERA is 1982 and currently holds a numberof advisory board appointments, including member of the Advisory Panel on

Energy and Climate Security, Department of Business, Enterprise and Regulatory Reform.

14.45

Oil Price Expert PredictionsWhat is The Short, Medium & Long-Term Outlook For Oil Prices& What Will The Direct Impact On Other Energy Sources Be?

Julian Lee, Senior Energy AnalystCENTRE FOR GLOBAL ENERGY STUDIESJulian Lee is Senior Energy Analyst at the CGES where he has worked since1989. Julian is Deputy Editor of the CGES’ Global Oil Insight and Monthly OilReport as well as writing the Oil Market Prospects and the Annual Oil MarketForecast and Review. He is also the Centre’s specialist on the oil and gas

industries of the former Soviet Union. Julian is on the editorial board of for the CanadianEnergy Research Institute’s Geopolitics of Energy.

15.15

Security Of SupplyChatham House Research Address

Exploring The Economics And Politics Of Transit Pipelines &The Future Implications For Security Of Supply In Europe

Professor Paul Stevens, Senior Research Fellow, EnergyCHATHAM HOUSE Educated as an economist and as a specialist on the Middle East atCambridge and the School of Oriental and African Studies; 1973-1979teaching at the American University of Beirut in Lebanon interspersed with twoyears as an oil consultant; 1979-93 at the University of Surrey. Between 1993

and 2008, he was Professor of Petroleum Policy and Economics at the Centre for Energy,Petroleum and Mineral Law and Policy, University of Dundee, Scotland, a chair created byBP. He is now Professor Emeritus at the University of Dundee and Consulting Professor atStanford University. Professor Stevens has published extensively on energy economics, theinternational petroleum industry, economic development issues and the political economy ofthe Gulf. He also works as a consultant for many companies and governments. In March2009 he was presented with the OPEC Award in recognition of his outstanding work in thefield of oil and energy research.

15.40

SHALE GAS IN EUROPEExploring The Developments In European Shale Gas

Peter Hagen, General Manager Gas Commercialization,Europe, Eurasia & Middle East, CHEVRONPeter Hagen is Chevron’s General Manager Gas Commercialization forEurope, Eurasia and the Middle East, based in London. His 32 year careerwith Chevron has spanned 5 continents in both Midstream and Upstream, primarily in the areas of Business Development, Marketing and Negotiations.

In his current position he is responsible for Chevron’s gas marketing and transportationstrategy development and implementation for Europe, Eurasia and the Middle East.

16.00

The Industry Barometer: Electronic PollingDiscussion The Global Gas Market

Gas Demand, Supplies & LNGModerator: Jonathan Stern, Chairman, Natural Gas ResearchProgramme & Senior Research Fellow, OXFORD INSTITUTE FORENERGY STUDIESSee biography previously

Panellists:Wolfgang PetersHead of Supply & Capacity Caspian, Central Asia & RussiaRWE SUPPLY & TRADINGDr Peters is Head of Supplies for the Caspian, Central Asia & Russia and isalso a member of the RWE Transgas Board of Directors.

Roger Tucker, Senior Vice President EuropeBG GROUPRoger is responsible for addressing the long-term strategic challenges facingthe European assets in the ECA region. He has had more than 20 years’experience in the oil and gas industry. Prior to this he was Managing Directorof Yukos Oil Company.

Laszlo Varro, Head of Gas and Electricity, IEALaszlo Varro joined the IEA in 2011 as the Head of Gas Coal and Power division. The divisionundertakes the analysis of gas, coal and electricity markets and policy developments with aspecial focus on supply-demand balance, capacity investments, supply security issues as wellas the implications of climate policy for the gas and electricity systems. Before joining the IEALaszlo worked in the private sector as the Director for Strategy Development at MOL Group.

Peter Hagen, General Manager Gas Commercialization, Europe, Eurasia& Middle East, CHEVRONSee biography previously

16.45 Afternoon Tea

AFTERNOON STREAMED SESSIONS

Chaired by: Mike Fulwood, Principal, Global Gas, NEXANTMike is a Principal in the Global Gas consulting business of Nexant, a global software andconsulting business. Mike has almost 30 years of experience in the energy industry andjoined Nexant in September 2008 following Nexant’s acquisition of the Energy Marketsconsulting business. Prior to forming Energy Markets in 1997, Mike worked as a Director atBritish Gas Transco.

17.15

Will We See The Death Of Oil-Indexation In Long-Term Contracts?

To What Extent Will Spot Pricing Dominate Long-TermContracts And How Can This Be Achieved?

Andrew Morris, DirectorPÖYRY MANAGEMENT CONSULTINGAndrew Morris has been with Pöyry since 1997 after 13 years working forBritish Gas in gas marketing and sales. His expertise includes gas contracting,wholesale gas markets across Europe, gas transportation rules and tariffs,interconnector arrangements, supply / demand modelling, gas price forecasting,

asset valuation and market studies in various countries across Europe, plus unbundling andcompliance issues. He is responsible for Pöyry’s gas modelling and scenario analysis for assetvaluations and security of supply projects and has been involved in gas contract negotiationsand contract price re-opener disputes in a number of European countries.

17.40

Competition Vs Market RegulationExploring The Evolution Of Each Country’s Internal MarketAlongside The Development Of The European Market: WillThere Still Be Intra-European Hub Competition In The Future& What Are The Benefits?Speaker tbc

18.05

The New Market Reality For European GasHow Did The Demand Pattern & Supply Opportunities Of TheLast Winter Demonstrate The New Reality For Our LiberalisedEuropean Market?Speaker tbc

18.30

NEW! The Flame 2012 Industry Working GroupsJoin forces with Flame’s expert speakers & become part of an industry workinggroup. This session offers the chance for informal Q&A with industry figures andthe opportunity to share your thoughts with your peers. The perfect setting toexplore the impact of the presentations you have just heard!Working Group Discussion Topics• Gas Trading Of The Future • What Is The Future For European Energy Policy? • Can Gas Be The Bridging Fuel For Renewables? • What Stands In The Way Of European Supply Security?

18.45 Networking Champagne Roundtables - see pg 3 for details

18.45

Flame Welcome Drinks Reception

17.15

The Third Package Exploring What Is Left To Achieve & Determining What TheIndustry Will Look Like After Third Package Has BeenImplemented?

Francisco De La Flor GarciaDirector of RegulationENAGASFrancisco de la Flor has been working in the natural gas business since mideighties. He has worked in several companies holding various positions andhaving responsibilities for commercial, technical, procurement, international

and planning issues. He is currently Director of Regulation in Enagas since2002. At the same time, he is a Professor for University postgraduates at the GlobalDevelopment Learning Network, belonging to the World Bank.

STREAM A - Global Gas Trading

STREAM BCreating A Liberalised European Gas Market

FKN Flame B 2012_FLAME 2010 20/12/2011 13:59 Page 8

17.40

Network Codes: Are We Rushing The Details? Ensuring The Network Codes Are Fully Ready To Come To TheMarket: Determining What Still Needs To Be Ironed Out?

Sean Waring, Managing Director, INTERCONNECTOR (UK) LtdOwned by 8 large international energy companies and financial institutions, IUKis the operator of the sub-sea high pressure natural gas pipeline connecting theUK and continental Europe; a high profile operation that has been at the centreof European gas market development since it began operation in 1998. Prior tobecoming Managing Director in April 2008, Sean was responsible for the realtime delivery of the interconnector transportation service and for management

of the Company’s relations with industry regulators in the UK, Belgium and at EC level.

18.05

European Single Gas MarketWhat Will It Look Like And What Are The Key RegulatoryChallenges? A European Regulators Perspective

Pamela Taylor, Associate Partner, European StrategyOFGEMThe European Strategy team provides Ofgem’s input into developing genuinelycompetitive and sustainable European gas and electricity markets. Pamelajoined Ofgem in 2004 and worked on anti-trust and compliance cases, includingOfgem’s first major Article 82 investigation into National Grid. She began her

career at the CBI, the organisation British business, where she worked in London andBrussels on various policy areas including e-business and environment.

18.30

NEW! The Flame 2012 Industry Working Groups - see pg 8

18.45 Networking Champagne Roundtables - see pg 3 for details

18.45

Flame Welcome Drinks Reception

Chaired by: Dr. Anouk Honore, Senior Research Fellow, Natural Gas Research ProgrammeOXFORD UNSTITUTE FOR ENERGY STUDIESDr Anouk Honore focuses on natural gas market fundamentals (demand andsupply), power generation in Europe and LNG. Her forthcoming publication is“European Gas Demand, Supply & Pricing: cycles, seasons and the impact of

LNG price arbitrage”, Oxford University Press (2010). Before joining the Institute in 2004, DrHonore worked at the International Energy Agency, focusing on natural gas issues.

17.15

Investment Into Gas Fired Power Plants? What's Their Potential In The Flexibility And CapacityMarkets? A Commercial Consultants Perspective

Reinhard Ruemler, Senior Manager, Energy Advisory Practice,PwC GermanyReinhard specialises in European Energy Markets, European Regulation, OpenSeason and Auction Procedures for Infrastructure Assets with a deep Focus onUnderground Storages, Gas-fired Power Plants, Calculation of Downstream andMidstream Pricing Systems, Negotiation of Gas Supply and Purchase Contractsand the Development and Implementation of Supply Portfolios for Utilities.

17.40

Attracting The Capital For Gas-To-Power Who Can Do It TheRole Of Subsidies And Incentives Providing The RightFrameworkStefan-Jörg Göbel, Managing Director, Head of Trading & OriginationSTATKRAFT MARKETSStefan-Jörg is the Head of Trading & Origination for STATKRAFT in Continental Europe, thusbeing responsible for all wholesale activity in power, fuels, CO2 and green certificates. He isalso a member of the management team.

18.05

The Symbiosis Of Renewables And Gas Energy Production

What Does It Take To Accomplish This? A Case Study From Spain

Jan von Drathen, Head Of Concentrated Solar PowerE.ON CLIMATE & RENEWABLESJan is responsible of the CSP business in E.ON Climate & Renewables,covering strategy, development, construction and operations & maintenance ofE.ON’s CSP assets. He joined E.ON in 2001 and worked in various tradingpositions ever since. He was the Managing Director of D-Gas between 2005

and 2008, and managed successfully the integration of D-Gas with E.ON Energy Trading. AtE.ON Energy Trading, he was head of Gas Dispatch, responsible for gas deliveries inContinental Europe and short-term flow optimization.

18.30

NEW! The Flame 2012 Industry Working Groups - see pg 8

18.45 Networking Champagne Roundtables - see pg 3 for details

18.45

Flame Welcome Drinks Reception

Chaired by: Phil MurphyVice-President – Corporate Policy, BG GROUPPhil is Vice-President – Corporate Policy at BG Group. Phil was a political journalist for 15years, then worked as a political adviser to former UK Prime Minister, Tony Blair, before joiningBG Group in 2001.

17.15

Security Of Supply: The Main Challenges And Drivers ForAchieving Security Of Supply Within EuropeGeorgina Kladis-Kalentzi, Senior Manager, DELOITTE LLP UKGeorgina has over 8 years experience mainly in the upstream oil and gas sector advising oncommercial and strategy issues. Georgina has accumulated a wealth of experience whileworking as a consultant on a number of oil and gas monetisation and gas master plan projectsin Africa and the Middle East. In addition, she has led several UK asset evaluations andcommercial projects while working for GDF Suez. She currently manages the Deloittepetroleum services and advisory team for Europe focusing on North West Europe andemerging European plays.

17.40

Supply & Demand Assessing Expectations In Europe: When Will We See A TighteningIn Demand & Supply & How Long Is This Predicted To Last?

Vladimir RakhmaninDeputy Secretary GeneralENERGY CHARTER SECRETARIATAmbassador Vladimir Rakhmanin became Deputy Secretary General of theEnergy Charter Secretariat in July 2008. Before becoming Deputy SecretaryGeneral, Vladimir Rakhmanin was Ambassador at Large in the Ministry of

Foreign Affairs of the Russian Federation, chairing the Working Group on theMechanism of Peace and Security in Northeast Asia of the Six-Party Talks onDenuclearisation of the Korean Peninsula.

18.05

Norwegian Gas UpdateWill Norway Explore Further North For Gas & What Are TheProspects For Norwegian Gas Beyond 2020?

Erik JohnsenDeputy Director GeneralNORWEGIAN MINISTRY OF PETROLEUM AND ENERGYErik is currently responsible for the Gas and Infrastructure Section. Prior to thishe has held various positions in the Ministry.

18.30

NEW! The Flame 2012 Industry Working Groups - see pg 818.45 Networking Champagne Roundtables - see pg 3 for details

18.45 Flame Welcome Drinks Reception

FUTURE TRENDS IN THEEUROPEAN GAS MARKET

08.00 Registration & Coffee08.20

Chairman’s Opening WelcomeGuy FasaninoVice President, Marketing & SalesGRTgazGuy Fasanino’s career was entirely dedicated to gas infrastructure since itsbeginning. After graduating as a mining engineer in 1978, Guy held managingpositions in different gas infrastructure business lines in France : Underground

Gas Storage, Distribution and Transmission. Guy Fasanino is head of GRTgaz’s marketingand sales division since July 2006.

08.30

The Reality Of A Single Gas MarketHow Is The Gas Industry Shaping Up To Achieve A SingleEuropean Gas Market, What Are The Challenges & WhenRemains To Be Implemented?

Alistair BuchanenCEOOFGEMAlistair has been CEO of OFGEM since 2003. He is also a member of theBusiness Energy Forum and the UK Energy Research Partnership (UKERP)and previously a Non Executive Director for the state-owned company Scottish

Water. He was appointed CBE (Commander of the British Empire) in December 2008. In 2010he joined the Council of Durham University.

08.55

Creating A Vision For The European Gas MarketKurt Pedersen, Executive Vice President, DONG ENERGY See bio below

09.05

EUROPEAN GAS INDUSTRY TASK FORCECreating A Vision For The European Gas Market

Balancing Supply & Demand, Storage & LNG Trading,Regulation & The Free Market: How Far Are We From AchievingThe Right Market Design & What Stands In Our Way?

Paul van GelderChairman of the Executive Board & CEOGASUNIE Prior to taking on his new role at Gasunie, Paul was Managing Director atTAQA Europa and TAQA Energy, responsible for TAQA’s European operations.His previous positions in TAQA included Project Director of Bergermeer GasStorage developing an underground gas storage facility.

Kurt Bligaard PedersenExecutive Vice PresidentDONG ENERGY Mr Pedersen has been in his current role since February 2002. Previous to thishe was President of DONG Naturgas, Member of the Group Executive Board &responsible for all trading activities. He has also held roles in the Ministry OfFinance, the City Of Copenhagen & Falck Denmark.

Stuart BradfordHead Of Marketing Strategy & AnalysisSHELL ENERGY EUROPEIn January 2010 Stuart took up his most recent position as head of Marketing,Strategy and Analysis for Shell Energy Europe Limited, the new companyformed by the merger of Shell’s equity gas, power and environmental productsmarketing and trading activities. Stephan KamphuesPresidentENTSOGStephan has been in his current role since 2008. Prior to that he held a varietyof positions at E.ON Rurhgas including the Head Of Business Law, The HeadOf The Legal Department & a Member Of The Board Of Management.

ACHIEVING SECURITY OFSUPPLY FOR EUROPE

09:50

EU Commission AddressHow Far Are We From Achieving Security Of Supply ForEurope & What Factors Stand In Our Way?

Jean-Arnold Vinois, Head of Energy Policy & Security of Supply, EUROPEAN COMMISSION DG TRENMr Vinois has been in his current role since April 2006, where he is responsiblefor Energy Policy and Security of Supply, dealing particularly with the StrategicEU Energy Review, the security of gas supply and the development of thetrans-European Energy networks.

10:15

Geopolitical Around The World Briefing: MENA,Europe, Russia, Asia & North America

Exploring The Current Geopolitical Hotspots Following ATurbulent 2011 & Predicting The New Geo-Political ChallengesMoving Forward

Robert (“RJ”) JohnstonHead, Global Energy & Macro EconomicsEURASIA GROUPRobert (“RJ”) Johnston specializes in oil, gas, power generation, metals, andagriculture research as well as client relations. Previously, he was a managingdirector of equity research at Medley Global Advisors, where he was

responsible for providing political, regulatory, and strategic insights across eight sectors toclients in the institutional investment community. In addition, RJ served as the lead analyst forglobal energy equities and electric utilities.

10:45

Guest Industry AddressUnderstanding The Impact Of New LNG Terminals & PipelinesComing On Line: How Will These New Sources Of SupplyChange The Supply & Circulation Of Gas In Europe?

Ben HollinsHead of European Gas & PowerWOOD MACKENZIEBen leads Wood Mackenzie’s gas & power consulting practice in Europe, whichadvises clients on a range of market-related, project-specific and advisoryengagements throughout the gas value chain.

11.10 Morning Coffee

THE GLOBAL MARKETOUTLOOK

11:40

THE US GAS MARKET IN FOCUSU.S. EIA Address

Examining The Current And Projected Supply And DemandConditions For Natural Gas In The USA

Howard Gruenspecht, Acting AdministratorU.S. ENERGY INFORMATION ADMINISTRATIONOver the past 30 years, Howard Gruenspecht has worked extensively onelectricity issues, regulations affecting motor fuels and vehicles, energy-relatedenvironmental issues, and economy-wide energy modeling. Before joining EIA,Howard was a Resident Scholar at Resources for the Future. From 1993 to2000, he served as Director of Economic, Electricity and Natural Gas Analysis

in the Department of Energy's (DOE) Office of Policy, having originally come to DOE in 1991as Deputy Assistant Secretary for Economic and Environmental Policy.

12:00

Shale Gas ProductionHow Is The US Shale Gas Market Developing & WhatChallenges Do The US Producers Of Shale Currently Face?

J. Mike Stice, Senior Vice President – Natural Gas ProjectsCHESAPEAKE ENERGY & Chief Executive OfficerCHESAPEAKE MIDSTREAM PARTNERS, L.P.Mr. Stice is responsible for overseeing Midstream-related endeavors, such asthe construction and integrity management of the company’s pipelineinfrastructure as well as the compression and treatment of natural gas, and

managing corporate natural gas projects. Prior to joining Chesapeake, Mr. Stice spent 27years with ConocoPhillips where he held a variety of technical and managerial positions inexploration, production, midstream and gas marketing.

12:20

US Gas ExportWhat Is The Timeline For The Liquefaction & Export Of USShale Gas & When Will It Enter The Global Gas Market?

Jean Abiteboul, PresidentCHENIERE SUPPLY & MARKETINGJean joined Cheniere in 2006, after having held various positions within Gaz deFrance (now GDF Suez), including Executive Vice President of Supply, Trading& Marketing, President of GASELYS, Executive Vice President International aswell as Advisor to the Chairman & CEO and Secretary of the Board of Directors.

12:40

Open Audience Q&AUnderstanding The Global Impact Of The US Shale Revolution

13.00 Lunch & Meet The Speaker Lunchtables14.10

Credit And The Future Of Gas And LNG ProjectsJason Bennett, Partner, BAKER BOTTS LLPJason Bennett is a partner in the Global Projects Group at Baker Botts L.L.P.who concentrates on project development, oil and gas projects andtransactions, project finance and international business transactions andinvestments. Mr. Bennett has extensive current experience with liquefied naturalgas (LNG) projects, including assisting clients with the development,

construction and launch of greenfield liquefaction projects and related upstreamdevelopments, regasification facility projects, LNG shipping matters and the structuring of LNGtrading platforms and investments. He also assists clients with development and structuring ofjoint venture and joint operating agreements, offtake and balancing arrangements and withmergers and acquisitions of interests in LNG, oil and natural gas, pipeline and non-conventional energy projects.

STREAM C: Renewables & Gas To Power

STREAM DAchieving European Security Of Supply

Main Conference Day 2Wednesday 18th April 2012

For latest programme and to register: www.icbi-flame.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk8

Tuesday 17th April & Wednesday 18th April 2012

MAIN CONFERENCE DAY ONE & TWODAY1&2

FKN Flame B 2012_FLAME 2010 20/12/2011 13:59 Page 9

Wednesday 18th April 2012

MAIN CONFERENCE DAY TWODAY

2

For latest programme and to register: www.icbi-flame.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk 9

14.30

RUSSIA Guest Economic Address

Exploring The Global Challenge To Russia's Gas IndustryVladimir Drebentsov, Head of Russia & CIS Economics, BP& Vice President, External Affairs, BP RUSSIAMr. Drebentsov joined BP on February 1, 2006 to take responsibility over theeconomic and energy research and policy advice for the BP Group in countriesof the former Soviet Union. Additional responsibilities include coverage ofEuropean gas markets for BP Group Economics and of global gas reserves

and trade for BP Statistical Review of World Energy. Previously, he spent 12 years as a SeniorEconomist at the World Bank.

14.50

Analysing The Russian MarketExploring Domestic Gas Policy In Russia & Determining TheOutlook For Russia’s Foreign Policy

Tatiana Mitrova, Head of Global EnergySKOLOKOVO ENERGY CENTRE Dr. Tatiana Mitrova is responsible for analyses of the global energy marketsdevelopment and the Russian Federation’s energy export and import policy.Between 2006-2011 Tatiana was Head of the Center for International EnergyMarkets Studies in Energy Research Institute of the Russian Academy of

Sciences (ERI RAS). Dr. Mitrova has sixteen years of experience in dealing with thedevelopment of Russian and global energy markets, including production, transportation,demand, energy policy, pricing, taxation and market restructuring. Dr. Mitrova is also amember of the Russian Council on Foreign and Defense Policy.

15.10

Arctic LNG Progress ReportExamining The Current Success & Future Challenges OfNovatek’s Yamal LNG Project

Mark Gyetvay, CFO, Deputy Chairman of The ManagementBoard & Member of The Board Of DirectorsOAO NOVATEKMr. Gyetvay’s main areas of responsibilities include external financial reportingand control, treasury, corporate finance, investor relations and capital marketactivities, as well as corporate oversight of NOVATEK Overseas (Switzerland)

and NOVATEK Representative Office (London). Mr. Gyetvay serves on the Board ofDirector’s Strategy and Investment Committee (Chairman) and is a member of the Board’ssub-committee on the Company’s LNG Project. Prior to joining NOVATEK in June 2003, Mr.Gyetvay was an audit partner in the Global Energy, Mining and Utilities practice ofPricewaterhouseCoopers based in Moscow

15.30 Open Audience Q&A

15.50

The Prospects For AustraliaAn Insight Into How Australian CBM Production

Could Change LNG Flows:Could Australia Become The Biggest Exporter OF LNG By2020 & Can Australia Overcome The Challenges To AchieveOn-Time Delivery To The Market?

Janet Hann, General Manager, CSG/LNG ProjectORIGIN ENERGY, AUSTRALIAJanet is currently the General Manager, CSG to LNG Project for which OriginEnergy operates the Upstream scope on behalf of APLNG. APLNG is a 50:50Coal Seam Gas to Liquefied Natural Gas joint venture between Origin andConocoPhillips. APLNG holds the largest CSG reserves in Australia and is

already producing almost 40 per cent of Australia’s total CSG production to meet domesticmarket requirements. Janet Hann joined Origin in 2009 initially as General Manager,Technical. Prior to this, working for Woodside Petroleum.

16.15 Afternoon Tea

AFTERNOON STREAMED SESSIONS

16.45

GERMANY FOCUSHelmut KustererDivisional Head of Market DevelopmentGASVERSORGUNG SUEDDEUTSCHLANDMr. Kusterer is responsible for sales and marketing at GVS, both withinGermany and abroad, i.e. for liaison and support of distribution customers inBaden Wuerttemberg, northern Switzerland, Vorarlberg and Lichtenstein. Under

his direction, a distribution strategy for the acquisition of direct customers was developed and implemented in Bavaria and Rhineland-Palatinate. He was also responsible forthe introduction of CRM and contract management systems.

Session 1:Energy Policy

The Role Of Gas In The New German Energy PolicyStephanie NevelingHead of the Gas Transmission Network Access & International Gas Trade UnitGERMAN FEDERAL NETWORK AGENCYPreviously, Dr. Stefanie Neveling worked for several years as a lawyer in arenowned law firm specialising in energy and infrastructure law, where sheadvised on several major projects involving the gas sector (concerning third-

party access issues, the drafting of supply agreements, merger control cases and Europeanregulatory issues).

Session 2:Market Design

Determining The Right Market Design & Gas/ RenewableBalance For A Post-Nuclear German Market?

Ruediger MuellerDirector, Gas Value ChainENBW GAS MIDSTREAMMr Mueller is responsible for the management of operating subsidies, strategydevelopment & business development of mid and upstream gas. Previously heworked at EnBW Trading as the Director of Coordination & Finance.

Round Up Discussion & Audience Q&A

17.35

Investing In European Security Of Supply Klaus Reinisch, Chief Executive OfficerPETRONAS ENERGY TRADING LIMITEDAs Chief Executive Officer, Klaus has overall responsibility for expanding theCompany’s European trading capabilities and optimizing the Group’s Europeanassets including its LNG regas capacity at the UK Dragon LNG Terminal, aswell as its wholly owned Humbly Grove Gas Storage facility. With the expanded

focus of the global PETRONAS Gas and Power business, Klaus will also be responsible forstrengthening the European business and diversifying into related European energycommodities such as power and carbon while expanding into new European geographicalmarkets to complement and leverage the PETRONAS Group’s leading positions andresources in Natural Gas and LNG.

18.00

Achieving UnbundlingWhat Needs To Be Done For Countries To Align With TheUnbundling Package & Achieve Adequate Separation BetweenCommercial And Non-Commercial Activities?Dominique Jamme, Director, Gas Infrastructure & Networks, CREDominique has been in his current role since Jan ’07. He joined CRE in 2001 and waspreviously in charge of the Economics and Tariffs Department in the Directorate of GasInfrastructures and Networks.

18.25

NEW! The Flame 2012 Industry Working GroupsJoin forces with Flame’s expert speakers & become part of an industry working group.This session offers the chance for informal Q&A with industry figures and the opportunityto share your thoughts with your peers. The perfect setting to explore the impact of thepresentations you have just heard!Working Group Discussion Topics• Gas Trading Of The Future• What Is The Future For European Energy Policy?• Can Gas Be The Bridging Fuel For Renewables?• What Stands In The Way Of European Supply Security?

18.40 Flame 2012 Cocktail Party

Chaired by: Andrew Knights, Senior Manager, DELOITTE LLP UKAndrew advises and provides expertise to Deloitte member firms worldwide on all issuesrelating the gas chain. He has over 30 years experience in the industry with specific expertisein all aspects in the gas value chain from offshore production through to gas consumer salesespecially in NW Europe.

16.45

How Could Unconventional Gas Change TheDynamics Of The UK's Gas Market?

How Shale Gas Will Impact Europe's Most Liberalised Market:Supply Mix, Security & Prices

Lucy Field, Senior ConsultantPÖYRY MANAGEMENT CONSULTINGLucy Field has been advising participants across the gas chain for 15 years. In2010, Lucy led the widely publicised study for the Department of Energy andClimate Change investigating the UK’s security of gas supply in the context ofEuropean pipeline developments. Around Europe, Lucy has examined thepotential of new CCGTs, LNG terminals and gas storage, including considerationof their impact on gas supply flexibility and the interface with existing long-term

supply contract structures.

17.10

Australian CBMWhat Is The Export Potential For Australian LNG & When WillIt Come Online?

Mark Rowley, Partner, BAKER BOTTS (UK) LLPMark Rowley advises clients in connection with large-scale energy andcorporate matters, with a particular focus on upstream and midstream gasprojects. Mark joined Baker Botts in London in 2001 and was then based inAzerbaijan from 2003 to 2005. In January 2010, Mr Rowley moved to Australiato become General Counsel of Australia Pacific LNG (APLNG) in Brisbane,before rejoining the firm in October 2011.

17.35

The Global Market In TransitionThe Impacts Of Innovation, Technology & Globalization

Porter Bennett, Advisor & Former CEO, BENTEK ENERGYPorter Bennett is currently working in an advisory role at BENTEK Energyand is the former CEO of the company, which he founded in 1985. Duringhis tenure at BENTEK, he led the evolution of the company from an energyindustry consulting firm specializing in supply and demand analysis totoday’s leading provider of market information and analysis for the naturalgas, NGL and oil industries.

18.00

The New Market Reality For European GasSpeaker TBC

18.25

NEW! The Flame 2012 Industry Working GroupsSee above for more details

18.30 Flame 2012 Cocktail Party

16.45

Storing Energy In Europe TomorrowStoring Energy In Europe Tomorrow: Where And What For ?• The role of gas in the future energy mix in Europe • Impact of the nuclear policy(ies) in Europe • Flexibility a major issue ; energy storage a solution

Jean-Marc Leroy, CEO, STORENGY, President, GASSTORAGE EUROPE, Vice President, GASINFRASTRUCTURES EUROPEJean Marc Leroy was appointed as CEO of Storengy in 2009, a new companyof GDF SUEZ, dedicated to underground storage of natural gas in France andabroad. Since 2005, Mr Leroy has been in charge of storage infrastructures and

LNG terminals of GDF SUEZ. He is also President of GSE - Gas Storage Europe -,representing gas storage operators in Europe towards the European Institutions (EuropeanCommission, European Parliament, Council of the European Union) as well as the Europeanbodies of regulators (ERGEG, CEER) and other stakeholders, and Vice President of GIE –Gas Infrastructures Europe. Since 2011, Jean-Marc Leroy is also Chairman of the university’ssupervisory board of ENSEEIHT (a French engineering school of Toulouse’s University,specialized in Energy, Electrical Engineering, Hydraulics and IT).

17.10

Summer/Winter SpreadHow To Operate In A World Of Decreasing Summer/WinterSpreads?

Bert KiewietSenior Consultant Gas Markets & Strategy KEMABert Kiewiet is a senior consultant and experienced project manager in the fieldof gas market analysis, modeling and gas network access and tariff design.Before joining KEMA, Bert worked for several years as a senior analystinfrastructure development at N.V. Nederlandse Gasunie. Bert Kiewiet worked

on projects in several countries around the globe advising gas transmission system operatorsand regulators.

17.35

Carbon Capture StorageUnderstanding The Latest Developments In CCS &Transmission & Examining The Outlook For The Price Of CO2Speaker tbc

18.00

Why Do Seasonal Spreads Not Reflect The Full Value Of Storage?

What Is The Outlook For Seasonal Spreads And What OtherFactors Influence The Value Of Storage Capacity?

Lubor Veleba, Chief Commercial OfficerRWE GAS STORAGELubor is responsible for the sales and finance aspects of RWE´s storagebusiness in the Czech Republic composed of 6 gas storage facilities andrepresenting working gas volume in excess of 2 billion cubic meters.

18.25

NEW! The Flame 2012 Industry Working GroupsSee above for more details

18.45 Flame 2012 Cocktail Party

16.45

Adapting To The 2050 Roadmap – The Role Of LNG In Europe.Donovan Waite, Commercial Manager, SOUTH HOOK GASDonovan Waite is the Commercial Manager at South Hook Gas Company Ltdand is based at its offices in London. In this role, Donovan is responsible fordeveloping and managing the commercial arrangements for the capacity ofthe South Hook Terminal in South Wales. This relates to the import of LNGand supply of gas under South Hook Gas' core arrangements, its third partycapacity business as well as new business development. Since commencingcommercial operations in April 2010, South Hook Gas has made a significant

contribution to UK energy security and now supplies around 15% of the country’s gasneeds. In addition, with agreements signed in 2011 with ConocoPhillips, EGL, Trafigura andChevron, the company is helping to improve competition in the UK gas market. In October2011, South Hook Gas cemented its role as the UK’s largest LNG supplier when itcelebrated receipt of its 200th LNG cargo.

17.10

Understanding The Japanese MarketExploring The Japanese Energy Scene And The Impact OfUnconventional LNG On Asia Pacific Market

Hiroshi Kondo, Vice President, Paris Office, TOKYO GASHiroshi Kondo is Vice President of Tokyo Gas Paris Office. Tokyo Gas is thelargest gas company in Japan. His geographical areas regarding LNGmatters are Europe, the Middle East and Africa. Since he joined Tokyo Gas in1996, he has been in charge of LNG operations for many years. Hisresponsibilities include receiving LNG shipments at terminals, controllingcargo delivery schedules and making sales and purchase contracts.

Previously, he worked for Tokyo LNG Tanker, a subsidiary of Tokyo Gas, managing somevessels under transportation contracts.

17.35

Understanding The Latest Developments In The Spanish Gas Market

What Is On The Horizon?Víctor Tuñón, Executive Director, Global GasGAS NATURALVíctor Tuñón Career has spanned over 20 years with Gas Natural SDG andRepsol YPF. He is now the Executive Director Global Gas of Gas Natural,having spent the previous years in the position of General Manager of GasNatural Comercializadora, Director Planning and Control, Gas for Repsol YPFand the two previous years in the same role but with Gastream (LNG). Before

this, he has been in the Gas and Power Vicepresidency (Repsol YPF) and has been theGeneral Manager of La Energía (Cogeneration Unit in Gas Natural SDG).

18.00

Supply Diversification In CEEHow Can The CEE Develop Strategies To Diversify Its GasSourcing?

David VidunaHead of Longterm OriginationCEZDavid Viduna is the Head of Longterm Origination in ČEZ since 2010.Previously working in ČEZ as a project manager, primarily responsible fordevelopment of ČEZ gas power plants in Hungary and Slovakia. Before joiningČEZ in 2006, David worked in consulting companies and universities in various

countries of EU and in Canada. David has a background in natural sciences (PhD, CharlesUniversity in Prague) and finance (Financial and Accounting Certificate, Rochester Institute ofTechnology).

18.25

NEW! The Flame 2012 Industry Working GroupsSee above for more details

18.45 Flame 2012 Cocktail Party

STREAM A - Creating A Liberalised European Market

STREAM BExploring The Future For Natural Gas

STREAM CNew Developments In Storage & Flexibility

STREAM DExploring Developments In The

Global Gas Market

FKN Flame B 2012_FLAME 2010 20/12/2011 13:59 Page 10

ACHIEVING EU LIBERALISATION& EXPLORING THE EVOLUTIONOF GAS MARKET DYNAMICS

08.00 Registration & Coffee

08.20

Chairman’s Opening Welcome

GAS TRADING IN EUROPE08.30

How Is The Customer Benefitting From TheLiberalized Market?

Benoît Pouzieux, Head of Key Accounts, GRTgazBenoit Pouzieux is Head of Key Accounts in GRTgaz Marketing and Salesdivision. Benoit began his career managing gas infrastructure projects. In 1997,he became maintenance and operation manager of a gas transmissionnetwork. Since 2000 and the opening of the gas market in Europe, he has heldseveral positions in GDF Suez and in GRTgaz in connection with TPA issues(storage, transmission network, IT …).

08.50

ARE WE STILL IN A BUYER’S MARKET? Exploring The Effects Of Pricing On Global Gas DemandDavid Gallagher, Head Of Gas, VITOLDavid is Head of Natural Gas at Vitol. He entered the Gas Industry in Canada in 1991following his Chemical Engineering studies at Edinburgh University.

09.10

WHAT THE SPOT IS GOING ON IN THE GAS MARKET?

How To See the Market Developments That Really Matter &Where Will Prices Go Next ?

Robert Minsaas, Managing DirectorECLIPSE ENERGYRobert started trading in the UK gas market in 1995 and been in optimisationand proprietary trading roles in the European gas market and the US oil, gasand power markets throughout his career. Robert is one of the founders ofEclipse Energy, which has 30 employees and offices in London, Norway and

Asia. Eclipse provides price, data and flow forecasts for gas and power. Eclipse customerscover over 80% of European traded and transported volume. Robert’s role within Eclipse isprimarily focussed on the short term traded gas markets in Europe, but also the medium termup to 5 years ahead and the long term forecasts to 2030.

09.35

THE FLAME 2012 GAS TRADING DISCUSSIONExploring The Evolution Of Gas Trading In Europe WhatRemains To Be Achieved & How Can We Improve MarketDynamics?

Colin Lyle, Board Member & Gas Committee Chairman, EFETColin was elected to the Board of the European Federation of Energy Tradersand appointed as Chairman of the EFET Gas Committee in August 2002. Healso serves on the Board of Verband Deutscher Gas- und Strömhandler eV.EFET promotes the development of energy trading in open, transparent andliquid wholesale markets, unhindered by national borders or other undueobstacles. Prior to this, he was MD of Gas Market Insights Ltd, an internatonal

energy consultancy. Before that, he was Director, European Policy for Centrica plc. Colin isalso IGU Strategy Committee Chairman. IGU membership covers more than 95% of theglobal gas market.

Edouard Sauvage, Head Of Gas Supply, GDF SUEZ Edouard Sauvage has worked as Member of the Staff of the Prime Minister incharge of regional development and urban policy. (1995-1997).He joined Gazde France Group in 1997. He held managing positions in the distributiondivisions of the company. He was "Vice-President of the Strategic Division forGaz de France Group and then Vice- President of the International Division.From 2004 to 2007, he was Vice-President Long Term Supplies.

José Simón, Director Gas Supply & Portfolio ManagementIBERDROLAJosé Simón joined Iberdrola in 1997, as Director for Corporate Planning untilSeptember 2001 when he was appointed Gas Supply and PortfolioManagement VP. He has been responsible for all long-term gas activities withinIberdrola, either related with pipe gas supplies or LNG. He has led the team in

charge of relevant deals for Iberdrola such as all longterm LNG procurement contracts withcompanies like Sonatrach, Statoil, Nigeria LNG…, and the regasification position in Isle ofGrain, the Medgaz and, very recently, the LNG supply deal with Dong Energy to be deliveredat Gate terminal.

Nick Allen, Manager of European Gas & Power Trading &Origination, CONOCOPHILLIPSNick Allen is currently serving as Trading and Origination Manager forConocoPhillips’ European Gas & Power business. Nick joined Conoco in 1997having started his career in the energy business with ED&F Man and JPMorgan on the International Petroleum Exchange. Nick has worked in RiskManagement and Derivatives Trading at Conoco before becoming the lead

Gasoline Trader in 2000. In 2005 he moved to Dresdner Kleinwort Wasserstein but returnedto ConocoPhillips in 2006 to manage the Gas & Power Trading desk. Over the last 5 yearsNick, supported by a strong equity production position, has built a team with a significantpresence in Western European gas trading.

10.10

THE FLAME 2012 DEBATEDetermining The Long Term Contract Formula For TheEuropean Gas Market Are Oil-Linked Contracts A Thing Of ThePast And How Can We Update Pricing Formulas To Meet TheDemands Of The Modern Natural Gas Industry?Jonathan Stern, Chairman, Natural Gas Programme & Senior ResearchFellow, OXFORD INSTITUTE FOR ENERGY STUDIESSee biography previously on pg 8Vs

Thierry Bros, Senior Energy AnalystSOCIENTE GENERALEThierry Bros was appointed to his current role in 2010. Thierry joined SociétéGénérale in 2007, as Senior Financial Analyst, to provide clients withrecommendations on listed pan-European gas stocks and in-depth research ongas issues. Thierry covered the gas chain from upstream to downstream withBG Group, Centrica, Enagas, Gas Natural, Gazprom, GDF SUEZ and Snam

Rete Gas. Thierry was, from 2002 to 2007, Senior Oil & Gas expert at the French Departmentof Trade and Industry.

10.50 Morning Coffee

THE FUTURE FOR THEENERGY MARKET

11.15

THE ROADMAP FOR 2050How Does The Roadmap Achieve A Low-Carbon Economy InEurope, In Line With The Energy Security, Environmental AndEconomic Goals Of The European Union?Arne Mogren, Programme Director, PowerEUROPEAN CLIMATE FOUNDATIONDuring the 1980s, Arne was researcher in energy futures at the Swedish Defence ResearchInstitute. In 1989, he started as policy analyst at Vattenfall. Arne established Vattenfall’sBrussels office in 1992 and headed the Brussels activities until 1995. From there, he handledenergy policy issues such as deregulation, nuclear phase out and energy taxation in Swedenduring the second part of 1990’s. Arne was responsible for Public Affairs on group level from2001 to 2006 and has led Vattenfall’s work on climate change policy.

11.40

INVESTING IN INFRASTRUCTUREWhat Are The Drivers For Investment In Gas Infrastructure &What Can The Industry and Policy Makers Do To MakeInvestment In Infrastructure More Appealing In These VolatileTimes?

Jean-Claude Depail, President, GIE & Member Of TheExecutive Committee For Infrastructure, GDF SUEZSince July 2007, Jean-Claude Depail had been Chief Operating Officer of theGlobal Gas & LNG Business Line. On March 4, 2010, he was appointedExecutive Committee member in charge of the Infrastructures business line. Mr.Depail was elected as GIE President on 24 June 2010

12.05

INNOVATION IN THE ENERGY MARKETSExploring The Impact Of Innovation In A Competitive EnergyMarket

Gertjan Lankhorst, CEOGASTERRAGertjan has been CEO since Sept ‘06. Before this, he worked in the Ministry ofEconomic Affairs in The Netherlands, holding various posts including Director ofCompetition & Director-General of Energy (‘03-‘05).

12.30

PREDICTING FUTURE GLOBAL BOOMS & BUSTSWhere Should We Be Watching & What Will Be The ExpectedImpact On The Global Economy?

Vikram Mansharamani, LecturerYALE UNIVERSITY & Author, BOOMBUSTOLOGYVikram Mansharamani is an experienced global equity investor and Lecturer atYale University. He is the author of BOOMBUSTOLOGY: Spotting FinancialBubbles Before They Burst and is a regular commentator in the financial media(Bloomberg, CNBC, etc). He earned a PhD and MS from the Sloan School of

Management at MIT, an MS in Political Science from MIT, and a BA from Yale University. Dr.Mansharamani will present his multi-disciplinary framework for thinking about bubbles andeconomic growth. Further, he will apply his five-lens methodology to the case of China todayto evaluate the sustainability of growth over the next decade.

13.10 Lunch + Meet The Speaker LunchTables

AFTERNOON STREAMED SESSIONS

14.15

The Capacity Allocation MechanismHow Will It Be Implemented And How Will The Market Be KeptInformed? Stephan Kamphues, ENTSOGSee biography previously on pg 9

14.40

Exploring The Future Of The European Mid-Stream BusinessJesco von Kistowski, Managing Director, ECONGASJesco was appointed to the EconGas Executive Board in August 2006. Hejoined Ruhrgas 1992 and was subsequently posted to Houston. In 1996 hemoved across to Enron. In 1999 he joined the RWE Group, with which he heldsenior positions at subsidiaries in Essen, the USA and the UK.

15.05

Gas To Power In A Partially Liberalised European Market

What Are The Barriers To Growing Gas To Power And HowCan We Overcome Them?Martin Giesen, CEOADVANCED POWERMartin is CEO of Advanced Power AG, one of the world’s leading greenfield powerdevelopment companies with 4,000 MW of CCGTs in active development. Prior to AdvancedPower, Martin held leading positions in the power development and gas procurement fields.

15.30

Exploring The Creation & Integration Of A North-West European Market:

What Has Been Achieved & What Challenges Are Ahead?Pascal De Buck, Member of the Executive Board, Commercial Director, FLUXYSPascal De Buck joined Fluxys (formerly Distrigas) in 1995 as Legal Counsel. Hebecame Responsible of the Legal Department in 1999. At the same time hewas secretary to the Board and the General Assembly. As from 2001 he hasbeen in charge, of TPA to the grid, the LNG Terminal and the storage facilities

and of commercialising the Fluxys’ services. Currently Pascal De Buck is Member of theExecutive Board, Commercial Director.

15.55

Exploring The New Italian Balancing Market• The Italian market design and ACER framework guidelines on balancing• The first months of operation: results and experiences• Future developmentsFrancesco CarielloHead of External Market & Foreign Supplies, Electricity & Gas Markets DepartmentITALIAN REGULATORFrancesco has joined the Italian Energy Regulator AEEG in 2006 after different assignments inthe energy industry. He is now head of External Market Unit - overseeing cross border tradingactivities for gas and power - within the Markets department. He represents AEEG in a numberof CEER and ACER gas working groups. He is deeply involved in market integration activitiesalso participating in the drafting teams of the framework guidelines under preparation by ACER.

16.20

NEW! The Flame 2012 Industry Working GroupsJoin forces with Flame’s expert speakers & become part of an industry workinggroup. This session offers the chance for informal Q&A with industry figures and theopportunity to share your thoughts with your peers. The perfect setting to explorethe impact of the presentations you have just heard!

Working Group Discussion Topics• Market Coupling: Will It Work?• How Will Depressed Markets Impact Gas Trading• How To Attract Investment In Uncertain Times• Q&A With The Expert Speakers: What Do You Want To know More About?

17.00 End of Main Conference

14.15

Flexibility In TradingExploring The Role And The Value Of Flexibility Within ATrading Portfolio

Guido CustersManaging DirectorDELTA ENERGYGuido has been in his current position since the beginning of 2008, holding theposition of Trading Manager beforehand. Guido is also Chairman of the Gas &Power Development Board of APX-ENDEX.

14.40

What Are The Drivers For Spot MarketDevelopment?

Understanding The High Summer Prices And Lack Of AnnualPrice Fluctuations In Recent Years: What Does This IndicateAbout Spot Market Behaviour?

Bert den OudenCEOAPX-ENDEXTogether with the COO and CFO, Bert den Ouden manages APX-ENDEX as aprofitable energy exchange with more than 150 members from more than 20 countries, 130 employees and markets in 3 countries (Netherlands, Belgiumand Great Britain), with total cleared volume of 450 Billion kWh per year: in

order of magnitude equal to the total Dutch gas consumption, or combined British and Dutchelectricity consumption. Bert den Ouden has been a pioneer in the integration of Europeelectricity markets and played a key role in the development of the Market Couplingmechanism.

15.05

Energy Storage IntegrationShould We Be Aiming For Combined Electricity, Power & GasStorage & Is That Really Achievable & What Are The Risks &Opportunities?

Stephan DewaldManaging Director, Gas StorageWINGASPrior to his current position, Stephan was General Manager of Wintershall inLibya. He joined Winterhall in 2001 as General Counsel. Before this he was theRegional General Counsel of Enron Wind.

15.30

Storage Vs LNGCould LNG Be A Substitute For Gas Storage?

Simon SydenhamCommercial DirectorCENTRICA STORAGEIn this role he has responsibility for all commercial activities connected withCentrica’s Storage business including sales and marketing, optimisation andbusiness development. Prior to this role, Simon was responsible for

Centrica’s LNG activities from start up to leading the LNG trading business. Simon’sprevious roles in Centrica include running Centrica’s European Marketing and Originationactivities.

15.55

MIFID & Dodd-FrankHow Will New Trading Market Regulation Impact The EnergyIndustry?

Alex McDonaldCEOLONDON ENERGY BROKERS ASSOCIATION - WMBAPrior to joining WMBA, Alex has spent his career in Banking and FundManagement. He has over twenty years of experience as a macro trader andportfolio manager, most recently he was a senior portfolio manager at BSAMGlobal Alpha Fund and prior to that a portfolio manager in global macro, at

OLEA Capital Partners and at BlueCrest Capital focusing on commodities, fixed-income andcurrencies worldwide.

16.20

NEW! The Flame 2012 Industry Working GroupsSee above for more details

17.00 End of Main Conference

STREAM ACreating A Liberalised European Gas Market

STREAM BGlobal Gas Trading & Storage

Thursday 19th April 2012

MAIN CONFERENCE DAY THREEDAY

3

For latest programme and to register: www.icbi-flame.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk10

FKN Flame B 2012_FLAME 2010 20/12/2011 13:59 Page 11

Thursday 19th April 2012

MAIN CONFERENCE DAY THREE

11

DAY 3

For latest programme and to register: www.icbi-flame.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk

14.15

Bringing Caspian Gas To EuropeExploring The Technical, Commercial And Political ChallengesFor A Pipeline ProjectKjetil Tungland, Managing DirectorTRANS ADRIATIC PIPELINEIn April 2010, Tungland was appointed Managing Director for the Trans Adriatic Pipelineproject, a Joint Venture project with EGL, Statoil and E.ON Ruhrgas. Prior to this, Tunglandwas in Singapore where he was responsible for developing StatoilHydro’s natural gasbusiness in the Asian region, and before that he was Statoil’s country manager for businessdevelopment in Iraq.

14.40

The Financing Of Global Gas ProjectsHow Can Gas Infrastructure Projects Secure The NeededInvestment When Everyone Is Fighting For The Same Dollar?Paul Shapiro, Senior Banker, Natural Resources, EBRDPaul Shapiro joined the European Bank for Reconstruction and Development (EBRD) in 1994in Privatisation and Restructuring and Early Stage Equity moving to Natural Resources in2000. Since then he has led numerous debt and equity financings/projects in upstream,midstream and downstream oil and gas sectors.

15.05

The Future Of The Southern CorridorAzerbaijan, Iraq And Turkmenistan Gas Exports To Europe

Jennifer Coolidge, Executive DirectorCMX CASPIAN & GULF CONSULTANTS LTDDr Coolidge advises international oil companies and multinationals on strategy,political risk, operations and market entry in the Caspian region and Iraq. In2006-2007, Dr Coolidge was a scholar at the Kennan Institute of the WoodrowWilson Center, a prominent US Congressionally funded think tank in

Washington DC. In 2005-2006 she was International Policy Fellow in the Department ofPolitics and International Relations, University of Oxford, and Senior Rapporteur for the UKTaskforce on Energy Security and Foreign Policy chaired by former EU External RelationsCommissioner, Lord Chris Patten.

15.30

North Sea GasWhat Is The Outlook For Future Years?

Thor Otto Lohne, CFO & Executive Vice President, GASSCOThor Otto Lohne has been in his current role since 2002. His responsibilitiesinclude coordinating the development of the Norwegian gas infrastructure,sale and management of the capacity, commercial activity, finance andlegal. Previously Thor Otto Lohne has worked at Statoil, the GFU andPhillips Petroleum.

15.55

White StreamExploring The Progress of the 2nd – Black Sea Entry Point forCaspian gas into the EU: Facilitating Investments In TheUpstream And Trans-Caspian Pipeline

Giorgi Vashakmadze, Director, Corporate DevelopmentWHITE STREAMGiorgi Vashakmadze is an energy adviser with long experience in transitnegotiations on the development of the strategic East West energy corridorprojects. From 1996 to August 2005, he held different key positions in the GIOC - Georgian SOE responsible for Baku-Supsa, BTC and SCP projects. As a member of the Parliament of Georgia, he chaired the Subcommittee for the

Eurasian Energy Corridor. In 2005 Dr Vashakmadze left the government service to join WhiteStream consortium (at that time - GUEU consortium) - the sponsor and developer of thestrategic gas transportation link from the South Caucasus across the Black Sea to Romania,Ukraine and other countries in Europe – the White Stream project.

16.20

NEW! The Flame 2012 Industry Working GroupsSee above for more details

17.00 End of Main Conference

14.15

Where Are Global Gas Markets Heading In The Next 5 Years?• Are global markets getting tighter?• Asymmetric regional patterns : is Asia the key for growth?• Is Europe becoming more or less dependent on Russian gas?• Will North America “relink” itself to global gas markets?

Anne Sophie Corbeau, Senior Gas Expert, IEAMs. Corbeau joined the International Energy Agency in March 2009 as SeniorGas Expert at the Energy Diversification Division (Office of Energy Markets andSecurity). She is responsible for managing the research on global gas markets,with a particular focus on short- to medium-term development. She is the mainauthor of the gas section of the publication: Medium Term Oil and Gas Markets.

14.40

Shale Gas Working GroupSession 1:

When And How Will Shale Gas Matter in Europe?James Elston, Director, PALLADIAN ENERGYMr Elston advises investment banks, private equity firms and energy companies on a varietyof issues largely relating to equity capital markets, M&A and equity research. Uuntil recently,he was CEO of Realm Energy International Corp a TSX-V listed Shale explorer active inEurope. Mr. Elston has assisted with floating 8 energy companies over the last few years onLondon’s AIM market, making him one of the most active pre-IPO analysts. He has workedwith numerous unconventional gas players, and their advisors, and assisted in bringing GreatEastern Energy and Green Dragon to AIM.

Session 2:A First Look At The Findings In Poland

Understanding The Potential Size Of The Unconventional GasMarket In Europe & What This Could Mean For EuropeanSupply SecurityPaweł PoprawaChief Specialist & Head of Petroleum Geology LaboratoryPOLISH GEOLOGICAL INSTITUTESince 1995, Pawel has worked at the Polish Geological Institute in Warsaw, and since 2003has been Head of the Petroleum Prospection Division. His main subjects of professionalinterest are sedimentary basin analysis, in particular thermal and burial history reconstructions,tectonic evolution of sedimentary basins, and sediment provenance area studies. Pawel hasspent the past four years studying the shale gas potential of Poland and neighboring countries.

Round Up Discussion & Audience Q&A

15.30

Gas For TransportationExploring The Increasing Popularity Of Natural Gas In TheTransport SectorRobert M. LesnickOil & Gas Program CoordinatorTHE WORLD BANK In his current assignment Mr. Lesnick manages the development of the business strategy andallocation of resources of the World Bank’s Oil and Gas Policy Unit, including direct oversightof the Petroleum Governance Initiative (Trust Fund). He is responsible for the development ofpetroleum sector input into World Bank energy and climate change strategies and providesadvice on a variety of energy policy topics to strategic government clients. Previously RobertM. Lesnick was a senior manager within ConocoPhillips Global Gas.

15.55

New Research On ChinaWhat Impact Does China’s Energy Appetite Have On Global Oil& Gas Prices & How Is This Likely To Evolve?

Xiaoyi MuLecturer in Energy/Petroleum EconomicsUNIVERSITY OF DUNDEEDr. Xiaoyi (Shawn) Mu has conducted research and published in refereedjournals on the trend of oil prices, the determinants of natural gas pricesvolatilities, China’s impact on oil prices, investment in the refining industry,

gasoline marketing, and the restructuring of national oil companies. Before joining Universityof Dundee in 2008, Dr. Mu was a senior consultant at Global Energy Decisions (now ABBVentyx) in California, modelling the electricity market.

16.20

NEW! The Flame 2012 Industry Working GroupsSee above for more details

17.00 End of Main Conference

STREAM DThe Flame 2012 New Research Showcase

STREAM CThe Investment Climate & Security Of Supply

Workshop – Friday 20th April 2012 Market & Credit Risk Management For Gas Portfolios - In Association with Lacima

About Your Workshop LeadersDr Chris Strickland, Director, LacimaChris Strickland is Co-founder and Director of Lacima, a specialist provider of energy risk management, valuation and optimisation software and advisory services. Chris consults extensively with senior executives globally in the areas of energy risk management,strategic assessment and implementation of risk systems. Chris is the co-author of the books "Energy Derivatives Pricing and Risk Management" and "Implementing Derivatives Models."

Pierre Lebon, Senior Consultant, LacimaPierre specialises in energy and commodity risk management consulting and the implementation of software solutions. As a consultant, he has worked closely alongside risk management, trading, and portfolio optimisation teams and specialises in the analysis of physical assetssuch as gas storage, long term gas contracts and power plants.

About LacimaLacima is a specialist provider of software and advisory services dedicated to valuation, optimisation and risk management for global energy markets. We help you to maximise your profit potential and make more informed decisions by providing tools thatyield more accurate valuations, hedging and risk exposure analysis for portfolios of financial contracts and physical assets. For further information, visit www.lacimagroup.com or email info@lacimagroup.com

AGENDA

09.00 Market & Credit Risk Measures• The types and relevance of available

risk metrics• Underlying markets

- oil, gas, power and other commodities• Assets and contracts

- Physical assets (power plants, gasstorage, pipelines)

• Financial Contracts- Forward, swaps, options, Asians- Gas storage & swing

• Generating the scenarios- Single and multi-factor models

• Model Risk• Traded versus non-traded books

10.30 Morning break

11.00 Value-Based Risk Metrics• Analysis of value-at-risk (VaR) for

energy and commodity portfolios- Delta VaR (parametric, analytical)- Delta-gamma VaR- Historic simulation- Monte-Carlo simulation- Extreme value theory- Incremental and marginal VaR- Vega VaR

• Confidence levels and holding periods• Stress testing versus VaR metrics• Simplifying physical assets and

complex contracts into VaRcalculations- Gas storage- Gas swing contracts

• Back testing strategies

12.30 Lunch

13.30 Cashflow Based Risk Metrics• Going beyond VaR for asset heavy

portfolios• The different types of cashflow based

risk metrics- Cashflow-at-risk, profit-at-risk, gross

margin-at-risk, revenue-at-risk,earnings-at-risk

• Deriving cashflows for physical assetsand complex contracts- Power plants – gas fired- Full dispatch or approximate as

spreads?- Gas storage and gas swing contracts

• Consolidating cashflow-at-risk acrosspower and gas portfolios

• Sensitivity analysis• Using cashflow-at-risk to measure the

effectiveness of hedging strategies

15.00 Afternoon break

15.30 Credit Risk Metrics• Stress tests• Key components of credit risk models• Assessing creditworthiness • Capital allocation and performance

measurement • Credit value adjustments• Potential future exposure (PFE)• Credit VaR – what is your definition?• Credit risk models• Credit metrics

- Modelling credit rating changes- Simulation of counterparty market

values- Recover rates- Portfolio calculations

• What constitutes a ‘best-in-class’ riskmanagement division within an energycompany?

17.00 End of Day

OverviewAre you finding it difficult to report on relevant market and credit riskmetrics with accuracy through your current risk systems? By attendingthis workshop, you will gain a thorough understanding of the range ofmarket and credit risk metrics and their advantages anddisadvantages for handling complex energy portfolios.

We look at the unique characteristics of gas markets, physical assets(including power plants, gas storage facilities and pipelines), andcomplex contracts (including virtual storage and gas swing contracts).

You will learn what the “best-of-class” market and credit risk measuresare for joint portfolios of physical assets and financial contracts, aswell as how to use these metrics to measure the effectiveness ofhedging strategies.

Key Learning Outcomes• What constitutes a “best-in-class” risk management division within

an energy company?• Pros and cons of the different value-at-risk (VaR) metrics• Analysis of the different types of cashflow based risk metrics:

cashflow-at-risk, profit-at-risk, gross margin-at-risk, revenue-at-riskand earnings-at-risk

• Analysis of credit risk measures including potential future exposureand credit VaR

• How to combine physical assets and complex contracts into cashflow based risk metrics

• How to use cashflow-at-risk to measure the effectiveness ofhedging strategies

Who Should Attend?

• Heads of risk management • Heads of market and credit risk• Heads of risk control• Heads of risk reporting• Risk managers• Risk analysts

FKN Flame B 2012_FLAME 2010 20/12/2011 13:59 Page 12

For latest programme and to register: www.icbi-flame.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk12

Co-Sponsors

Baker Botts L.L.P. is an internationallaw firm with approximately 700lawyers and a worldwide network ofoffices. We offer clients one of theworld's most active law practices inthe gas industry and have advised on

a high number of significant gas transactions in over 30 countries worldwide. The firm's energy lawyersrepresent clients in a broad array of oil, gas, electricity and other energy-related matters, providingcomprehensive advisory, transactional, regulatory and litigation services. Baker Botts has advisedclients in relation to oil, gas, LNG, pipeline, petrochemical, refinery, electric power and renewablesprojects, as well as in connection with the acquisition and divestiture of interests in such projects.Chambers Global has noted that, “the lawyers at Baker Botts have deep sector specific knowledge...Inparticular, it is renowned for the quality of its upstream oil and gas work, continuing its involvement in‘cutting-edge’ LNG deals...Clients enjoy the fact that the team, as a whole, ‘really offers the fullpackage of services,’ injecting its lauded projects expertise with regulatory, transactional and financialcapability.” Our work includes assisting clients with deals cited as the annual “Deal of the Year” fourtimes in the past five years by such publications as Project Finance and Energy Risk magazines. Therepresentation of energy companies has traditionally been at the heart of the firm's practice. The firmalso advises governments, governmental agencies, NGOs and multilateral agencies on restructuringand privatisation matters on a regular basis. The firm's energy lawyers also have extensive experiencein banking and finance, capital markets, corporate governance, foreign investment, privatisation,customs and government contracts.

Used by 80% of the market

Provides flow and price forecasts

Covers from next month through to 2030

Price forecasts that cumulatively beat the market

Proprietary models for LNG, pipelines, storage, and prices

Analysis covers Russia, to global LNG and all countries in between

Uniquely models the dynamic interaction between gas and power markets

Provides data, information and on-line analytic services for the European market

Monday 16th April 2012

NEW! The Storage & Flexibility ForumAchieving Flexibility In Europe’s Evolving Markets

08.30

Registration & Coffee

09.30

Chairman’s Opening AddressPeter TaffIndependent ConsultantIn recent years Peter has been Head of European Operations at Centrica; was a cofounder ofand active participant in EASEE-gas & is a member of the EFET Hub Development Group.

09.45

Intermittent Renewal Generation And Gas StorageHow The Demand For Flexibility And Value Of EuropeanStorage Will Change Due To The Increase In IntermittentRenewable Generation. What Storage Types & Location WillBe Winners & Losers

James CoxPrincipal ConsultantPÖYRY MANAGEMENT CONSULTINGJames Cox is responsible for gas and electricity market modelling and howwind intermittency impacts and disrupts energy markets. He has managed aseries of high-profile multi-client studies on intermittency, including studies on

GB, Ireland, Italy, Switzerland and the North European Wind and Solar study (NEWSIS).Most recently he has led the European Gas Intermittency Study (EGIS), which has beenjoined by more than 10 large European utilities.

10.15

Storage AnalysisAssessing Storage In European Markets: Evaluating AvailableStorage Vs Current & Expected Demand • Current overview of existing storage facilities around the world • Current status of projected storage facilities in Europe

Thierry RouaudGeneral SecretaryCEDIGAZThierry Rouaud joined the Cedigaz association in 2006 where he wasresponsible for modernizing and rejuvenating its publication methods andpolicies. He was appointed as General Secretary of Cedigaz in 2009. Prior to

this, he worked at IFPEN in a number of positions.

10.45

Q&A & Interactive Discussion

11.10

Morning Coffee

11.40

How Do You Value Flexibility?What Is The New Value Of Storage And Flexibility In Light OfLNG Availability & The Reduction In Summer/Winter Spread?

Bertan AtalayCo-Founder & CEOCONTINENTAL GAS STORAGEMr. Atalay has experience in the energy markets of the USA, the UK, Canada,Europe and Turkey. He led and helped lead commercial developments in theEuropean and North American gas and power markets, while employed by

companies including Shell, Enron Europe, El Paso Energy and Northland Power. He hassuccessfully led the negotiations of gas and power deals and projects including power plants,renewable energy projects, hydro power plants, pipelines, and complex transactions in powerand fuel supply.

12.10

Storage & The Summer/Winter Spread Of The Future

What Is The Outlook For Future Seasonal Spreads & Will ItLead To More Or Less Competitive Economies For Storage?• LNG seasonal global dynamics• Impact of renewable on the European gas flexibility• UK energy policy: outlook of future UK energy mix

Paolo FormicaSenior Vice President, Gas Storage EuropeENI g&pMost of Paolos’ efforts have recently been focused on the development of theDeborah Gas Storage Project in UK. Paolo has an extensive businessexperience in both e&p and g&p as he was the head of eni Russian e&p

activities post the Yukos assets acquisition in 2007 and he set up the UK gas tradingbusiness. Furthermore, Paolo has spent most of his career in the legal dept of eni reachingthe role of General Counsel for the e&p business.

12.40

Q&A & Interactive Discussion

13.00

Lunch & Networking

14.00

The Rough Guide To Third Part AccessExperience From A Decade Of Commercial Storage Operations

Simon WillsManaging DirectorCENTRICA STORAGESimon joined Centrica Storage as Managing Director in August 2008, movingacross from his previous role as Head of Power Business Development withinCentrica Energy. Simon has been with Centrica since de-merger and before

that with British Gas plc. He started his career as a research engineer withBritish Gas in 1990 and since then has held a variety of commercial and technical roles withinBritish Gas and latterly Centrica, both in the UK and Europe.

14.30

An Example Of A Successful 3rd Party Access Storage Service– The Successes And Challenges

Willem FaberManaging DirectorBBL & Managing DirectorGASUNIE ZUIDWENDINGWillem Faber has been with Gasunie since 1983. Since 2007 he has been MDof BBL Company and since 2011 he had been MD of the Gasunie Zuidwending

underground storage project in salt cavities in the North of the Netherlands

15.00

PANEL DISCUSSIONExploring Third Party Access To/Market For Storage InEurope: What Is The Reality? Is Third Party Access To StorageReally Achievable For Traders & Smaller Players & HowSimple/Economic Is It To Gain Access & Is the AuctionProcess Successful?Moderator:Peter TaffIndependent ConsultantSee biography above

Panellists:Didier MagneHead of Continental Gas TradingRWE SUPPLY & TRADINGDidier started trading natural gas in 1998 at Enron Europe and was one of thepioneer traders to develop the Continental gas market. He has been an activeplayer in the development of the European gas market, involved in both

Origination and Trading. His team is currently managing a very diversified portfolio of tradingassets, involving storage, capacities and swing contracts. In addition, the team providesmarket access to RWE's portfolio management activities.

Simon Wills, Managing Director, CENTRICA STORAGESee biography above

Willem Faber, Managing Director, BBL& Managing Director, GASUNIE ZUIDWENDINGSee biography above

15.45 Afternoon Tea

16.15

Extracting The Full Commercial Value From StorageHow Can Storage Owners Work With Partners Who HaveTrading Expertise To Improve Utilisation Of Existing Storage &Create Additional Income?

Thorsten Dinkela, Head Of Business Development Northern Europe, SHELLSince 2010 Thorsten is the Head of Business Development N&W Europe(Natural Gas) at Shell Energy Europe limited in London. Amongst other thingshis team is responsible for: Gas to Power Sales, Upstream Optimisation inN&W Europe, Storage & Flexibility Products and Transport Management. Mr.

Dinkela started he career in Shell in 2002 as the Advisor for Shell’s gas affiliates in Germany(BEB, Ruhrgas, Thyssengas etc.).

16.45

Is Storage Competitive?In Current Economic Markets Is Storage Profitable & DeemedA Quantifiable Investment Opportunity Or Are SubsidiesRequired To Make New Storage Projects Attractive?

Thomas SchreyManaging DirectorENBW CRYSTAL STORAGEDr Schrey is the MD of Friedeburger SpeicherbetriebsgesellschaftmbH“Crystal”; a 50:50 Joint Venture of EnBW AG and EDF S.A. for the constructionand operation of 400 MCM Cavern Gas Storage in northern Germany. Prior to

this he was a Senior Manager with EnBW Gas Midstream, where he wasProject Manager for the evaluation, purchase, design, construction and operation of nationaland international natural gas projects.

17.15

Exploring The Demand For & Use Of UGS In A LiberalisedMarket: What Opportunities & Challenges Do We Face?• Development of UGS in Austria and abroad • Demand of UGS in a liberalized market (in context with the new Austrian gas

law) • Role of UGS in a changing gas marketMichael KreuzHead Of Storage DepartmentOMVMichael has been Head of the Gas Storage Department in Austria since 2007, where he isresponsible for the marketing of OMV Storage services and the client oriented producerportfolio.

17.45

Concluding Discussion & Q&A18.00

Monday Forum Drinks Reception

ABOUT YOUR SPONSORS

FKN Flame B 2012_FLAME 2010 20/12/2011 13:59 Page 13

13

ABOUT YOUR SPONSORSAssociate Sponsors

APX-ENDEX is Europe’s premierprovider of power and gasexchange services for thewholesale market, operating

transparent platforms for short term and futures trading in the Netherlands,the United Kingdom and Belgium. Established in 1999, APX-ENDEXprovides exchange trading, central clearing & settlement and datadistribution services. APX-ENDEX has over 350 memberships from morethan 15 countries. APX-ENDEX offers benchmark data and provides industryindices. Belpex is a 100% subsidiary of APX-ENDEX. APXENDEX’s officesare located in Amsterdam, Brussels, London and Nottingham. For moreinformation please visit apxendex.com and belpex.be.

BENTEK Energy is an energy marketanalytics company, providing data-drivenresearch and deep market understandingto clients around the globe. BENTEK is arecognized market leader in natural gas,

crude oil, NGL and LNG market fundamental analysis. BENTEK’s analyticalapproach is based on a data-driven, bottom-up methodology thatincorporates diverse and extensive data from thousands of sources. Thisdata is transformed into actionable intelligence and key market insights thatare leveraged by a broad client base, which encompasses all parts of theenergy value chain. BENTEK provides a full range of products and servicesincluding real-time data feeds, daily market reports, online analytical tools,comprehensive studies and customized consulting services.

BG Group is an international natural gas companyactive in around 25 countries across the world. Itscentre of gravity lies in exploration and production butit works right along the gas-chain, connectingcompetitively priced gas to high-value markets. BGGroup produces from the UKCS natural gasequivalent to around 7% of UK consumption and

expects to be producing its first hydrocarbons from Norway early in 2012 –just five years after launching its exploration drilling programme. BG Groupis a major global LNG player and has recently moved into shale gas andcoal seam gas activities in the US and Australia respectively. BG Group isalso a partner in some of the huge pre-salt oil discoveries of recent years inthe Santos Basin offshore Brazil.

Deloitte refers to one or moreof Deloitte Touche TohmatsuLimited, a UK privatecompany limited byguarantee, and its network of

member firms, each of which is a legally separate and independent entity.Please see www.deloitte.com/about for a detailed description of the legalstructure of Deloitte Touche Tohmatsu Limited and its member firms.Deloitte's Global Energy & Resources practice provides comprehensive,integrated solutions to the electric power, oil & gas, mining and watersectors through our member firms around the world. These solutionsaddress the range of challenges facing energy and resources companies asthey adapt to a changing regulatory environment, to political, economic andmarket pressure and to technological development. Our in-depth expertise inthis dynamic sector is an integral resource for a significant proportion of theworld's energy companies. Visit: www.deloitte.com/energy

As Europe's 2nd largest LNGterminal operator, Elengy servesall LNG importers seeking tosupply French and Europeanmarkets connected to the Frenchnatural gas transmission system.

It is able to receive all types of LNG vessels, up to the biggest, i.e. Q-Flexand Q-Max vessels. Elengy currently operates three LNG terminals inFrance : Montoir de Bretagne on the Atlantic coast, and Fos Tonkin as wellas Fos Cavaou which are both located on the shores of Mediterranean.Elengy offers safe and efficient services to its customers, is open to anyinnovative solutions and is ready to develop new capacities. Experienced,reliable and flexible, Elengy ambitions also to develop its activities in smallscale LNG as well as internationally, preferably in partnerships where itslong standing operator expertise will be leveraged.For further information, please visit : www.elengy.com

GasTerra is an international companytrading on natural gas. It operates on theEuropean energy market and accounts fora significant share of the gas that issupplied in the Netherlands. It is alsoprovides gas related services. The

company has a strong purchasing position and has almost 50 years’experience in purchasing and selling natural gas. The economic and socialvalue of natural gas as a source of energy gives the company an importantrole in utilizing the domestic gas reserves and energy supply in theNetherlands and the EU. GasTerra promotes the safe and appropriateconsumption of natural gas and is taking active steps to develop furtherapplications. The company recognizes the great importance of energytransition to sustainable energy supplies and initiates projects in thatcontext.

GRTgaz operates, maintains anddevelops a 32,000 km-long natural gastransmission system in France. GRTgazguarantees a transparent and nondiscriminatory access to its network for allactors. Our offer involves

commercializing natural gas transport capacities, network connectionservices, and full access to a dynamic wholesale gas market with 90shippers (end 2011). France is at the crossroads of European gas networks,and represents 10% of the European natural gas consumption. With the highgrowth of electricity generation from natural gas, a stable rise of gasdemand is expected over the next 10 years, which will boost the dynamismof the French market. Committed to designing a more liquid andinterconnected European gas market, GRTgaz builds its offers within itsConcertation Gaz process that brings together shippers and industrialcustomers seeking to optimize their supply opportunities.

Hogan Lovells is one of the world's leadinginternational legal practices with more than 2,500lawyers operating from 40 offices in Europe, theUnited States, Latin America and Asia. Thecombination of Lovells with Hogan & Hartson offersenergy clients unrivalled legal coverage acrossthese regions. Its international energy team ishighly experienced in major LNG, gas, oil,petrochemical, power and renewables projects.

Notable mandates include the Shah Deniz Phase 2 Gas Project and PapuaNew Guinea LNG.www.hoganlovells.com

CE Futures Europe is ICE'sLondon-based, regulatedfutures exchange for the globalenergy markets. As the world’sleading electronic energyfutures exchange, ICE Futures

Europe lists the global oil benchmarks; Brent and Gasoil Futures and is thehome of Europe’s largest natural gas futures and options contracts. ICE alsooffers the world’s most traded emissions futures market. Participants in morethan 70 countries access ICE’s range of futures and options contracts tomanage their risk around-the clock, in a transparent, fast and liquidmarketplace. Powered by widely distributed and sophisticated technology,the ICE Futures Europe platform brings participants of the world's energymarkets together.

Established in 1927, KEMA is anindependent knowledge leader and aglobal provider of high-level services tothe energy value chain, includingbusiness & technical consultancy,operational support, measurements &

inspection, and testing & certification. KEMA provides impartial advice andsupport to the producers, suppliers and end users of electricity, gas andheat, as well as to governmental bodies. In addition, the company alsocertifies products, systems and individuals for a wide range of clients.Technical innovation lies at the heart of much of what we do. Our team ofmore than 1,900 professionals based in twenty countries around the world isdedicated to the provision of customized solutions. This encompasseseverything from the origination of innovative, yet practical, answers to theenergy-related problems of the future, to the development andimplementation of cutting-edge quality assurance services for electrical andother high-risk equipment and processes. For more than eighty years,quality, integrity, reliability and expertise have been KEMA’s core values.Expertise in the fields of energy-related strategic and policy consultancycombines uniquely with comprehensive technical and technological know-how to distinguish KEMA from other service providers. These qualitiesenable KEMA to help its clients optimize their business and activities.

PETRONAS Energy Trading Limited(PETL) is a wholly owned subsidiary ofPETRONAS and leads the Group’sEuropean midstream and downstreamgas and energy trading operations fromits central London offices. PETL ownsand manages 50% of the import

capacity at the Dragon LNG regasification terminal, and manages 100% ofthe capacity as well as wholly owns the Humbly Grove Gas Storage facilityin the UK. Its diverse portfolio is further enhanced with Rough Gas Storageand Interconnector UK capacity, long-term UK gas supply agreements, andother diverse energy infrastructure positions in Europe. Expanding itsactivities from the UK into Continental Europe successfully, PETL’s businessstrengths are a result of having a diversified portfolio of physicalinfrastructure capacities and diverse physical and flexible supplies which areparamount to overall optimization and increased security of supply for theEuropean markets and its consumers long-term.

The Energy Branch of PöyryManagement Consulting is theleading advisor to Europe’senergy markets, providing

strategic, commercial, regulatory and policy advice to Europe’s energymarkets using our problem solving, modelling and economics expertise anda practical and down-to-earth approach to our clients' requirements. Ourteam of over 250 energy specialists, located across 15 offices in 12countries worldwide, offers unparalleled expertise in the rapidly changingenergy sector. Within Europe and worldwide our clients include utilities,generating companies, energy distributors, suppliers, energy traders,financial institutions, governments, regulators, the European Commission,the World Bank, trade associations and industrial energy users. PöyryManagement Consulting also produces the renowned ILEX Energy Reportswhich provide detailed projections for the price of wholesale electricity, gas,carbon and green certificates in Europe’s liberalised energy markets.

PricewaterhouseCoopers provides on theenergy business focused assurance, taxand advisory services to enhance valuefor its clients in the energy sector. PwCassists companies and stakeholders inthe energy industry worldwide – even intimes of radical change in the overallenergy policies. At PwC Energy Advisory

in Germany alone, there are 45 partners and more than 700 employees inthe Energy Sector dedicated to the long-term success of our clients. PwCGermany is regarded to be the number one consultant in the Germanenergy industry and serves clients along their up-stream, mid-stream anddown-stream business in the Gas Industry Sector. PwC's Global Energy,Utilities and Mining group (www.pwc.com/energy ) is the professionalservices leader in the international energy, utilities and mining community,advising clients through a global network of fully dedicated specialists.

Shell is a group of energy companies with a longhistory of innovation in the global gas industry,including pioneering investments in Asian LNG, thedevelopment of North Sea gas in the 1960s, andthe Pearl GTL project in Qatar, that wasinaugurated in 2011. Shell Energy Europe (SEE) isresponsible for the sale and marketing of gas,

power and environmental products in Europe, and is active in 17 countries.SEE was formed from the merger of Shell’s gas marketing and tradingbusinesses in 2009, and leverages the integration of these capabilities tooffer “Energy Solutions for your Business” to customers, including industrialgas consumers, power generators, gas producers and internationalmerchants.

In less than two years,South Hook Gas hasbecome the largest LNGimporter in the UK and

one of the largest in Europe. We are a London-based LNG-import companythat owns 100% of the capacity of the South Hook terminal in South Wales.South Hook Gas is a joint venture between Qatar Petroleum Internationaland ExxonMobil and our prime role is to purchase LNG from Qatargas andthen sell the gas to ExxonMobil Gas Marketing. When there is sparecapacity at the terminal, we offer regasification services to third parties andhave framework agreements with Total, EGL, Trafigura, Chevron andConocoPhillips. South Hook Gas has supplied the gas market every daysince commencing commercial operations and can meet up to 20% of UKdemand, helping to improve the UK’s diversity and security of energysources via effective and flexible LNG import arrangements. For moreinformation, visit www.southhookgas.com

Statoil is an international energy company withoperations in 34 countries. Building on morethan 35 years of experience from oil and gasproduction on the Norwegian continental shelf,a quarter of our production is now derived frominternational assets. We are committed toaccommodating the world's energy needs in aresponsible manner, applying technology and

creating innovative business solutions. Statoil is headquartered in Norwaywith 20,000 employees worldwide, and is listed on the New York and Oslostock exchanges. More information on www.statoil.com.

Storengy, a company of GDFSUEZ, is a European leader inunderground storage. It currentlyoperates storage facilities acrossFrance, United Kingdom and

Germany with 22 sites and around 12.5 billion m3 in working capacity. Withover 1,000 employees, Storengy is in charge of all new storage-relatedpursuits, planning, development, installation and operating activities, as wellas the commercialisation of services directly or indirectly pertaining tonatural gas storage. To support growth in demand, fulfil the market’s needfor responsiveness and ensure gas suppliers high-quality storage services,Storengy is working to optimise the performance of its existing facilities,expand its capacity and find new storage sites.

For latest programme and to register: www.icbi-flame.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk

Our LinkedIn Group Flame Conference allows you to share ideas andexpertise with your industry peers. Post a question/discussion and ask for feedback to help develop new ideas into working projects or solveproblems that have confounded your own team.

Follow us on Twitter @FlameConferenceKeep up to date with the latest news about the events, special offers, interesting articles and up to the minute research from the industry.

You can also view and share pictures from our events on our Flickr site (ICBI) http://www.flickr.com/photos/icbi-events

http://www.youtube.com/user/FlameEventTo really experience Flame, you need to be there.For the next best thing, try our YouTube channel for interviews, roundups and industry commentaries from your industry leaders.

FKN Flame B 2012_FLAME 2010 20/12/2011 13:59 Page 14

• LNG Summit:16 April 2012

• Storage & Flexibility/Security of SupplyForums: 16 April 2012

• Main Conference: 17-19 April 2012

• Workshop: Market & Credit Risk For Energy Portfolios:20 April 2012

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o 5 DAY PACKAGE: Conference + LNG Summit + Market & Credit Risk Workshop

16-20April 2012

£4,797 (+19% Dutch VAT) = £5,708.43 £900 £4,897 (+19% Dutch VAT) =

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o 5 DAY PACKAGE: Conference + Storage/ Security Of Supply Forums + Market & Credit Risk Workshop

16-20April 2012

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16-19April 2012

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o 4 DAY PACKAGE: Conference + Market & Credit Risk Workshop

17-20April 2012

£3,598 (+19% Dutch VAT) = £4,281.62 £300 £3,698 (+19% Dutch VAT)

= £4,400.62 £200 £3,798 (+19% Dutch VAT)= £4,519.62 £100

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