LNG UPDATE

August 2012

TABLE OF CONTENTS

INDUSTRY ANALYSIS

OVERVIEW

According to Statoil Report, Natural Gas to be Fuel of the Future

ARCTIC

Novatek Begins Building $30 Bln Arctic Port for LNG Exports

AMERICAS

U.S.

Sabine Pass LNG Project Receives $3.4 Bln in Loan Commitments

Report says $163 Bln Currently Invested in U.S. Oil, Gas Projects

CANADA

British Columbia to Include Natural Gas in LNG Industry among 'Clean Energy' Sources

FERC Drops Proposed Storage Tank from Cameron LNG Import Terminal

EQT Corp Converting Shale Gas Drilling Rigs to LNG

CHILE

Chile’s GasAtacama Awards Offshore LNG Terminal to Golar LNG Ltd

ASIA

AUSTRALIA

Australia's $175 Bln in LNG Projects Impacted by Cost Over-runs

Santos Advances Coal Seam Gas Plan for its Gladstone LNG Project

ShawCor Wins Second Order for Ichthys Project for $100 Mln plus LNG Pipe Coating Contract from McDermott Australia

Conoco, Origin to Expand $23.6 Bln Australia LNG Project Despite Rising Costs

ABB Wins Orders worth $80 Mln for Ichthys LNG Development

Aker Solutions Signs Ichthys Umbilicals Contract with McDermott

CB&I Announces $225 Mln AGL Energy Contract in Australia

Chevron Awards GE $600 Mln Long-Term Service Agreement for Gorgon Project in Australia

Sinopec Injects $21 Bln in Australia Pacific LNG to Finalize JV Acquisition

Chevron Australia Lets $600 Mln Services Contract to GE for Gorgon Project

CHINA

CNOOC Gets Approval to Build LNG Terminal in South China

INDIA

India Consortium Eyes Stake in Russia's Yamal LNG Project

PAKISTAN

Pakistan to Establish Three FLNG Terminals during 2012-2014 at Cost of $200 Mln Each

PAPUA NEW GUINEA

Shell in Discussions with InterOil Over Direction with Papua New Guinea LNG

Exxon Starts Natural Gas Drilling for $15.7 Bln PNG LNG Project

PHILIPPINES

Pilipinas Shell Plans LNG Regas Facility in Philippines

EUROPE / AFRICA / MIDDLE EAST

CROATIA

First Phase of New Croatian LNG Terminal Ready for 2016 While Adria LNG is Put on Hold

NORWAY

Statoil Temporarily Shuts Down Hammerfest LNG Plant

POLAND

Despite Delays Poland Says LNG Terminal to Open in 2014

ANGOLA

Angola Establishes Africa’s First LNG Terminal at Soyo

UNITED ARAB EMIRATES

Fluor Says Kuwait and UAE Set to Award Refinery, LNG Contracts