Liquified Natural Gas (LNG) UPDATE

August 2011

TABLE OF CONTENTS

INDUSTRY ANALYSIS

OVERVIEW

Success of FLNG to Play Major Role in Worldwide Gas Development

LNG Analyst Says Modular Preassembly Revolutionizing LNG Construction

ASIA

ASIA PACIFIC

CB&I Wins $500 Mln LNG Tank Contract for Asia Pacific Region Project

AUSTRALIA

GL Noble Denton Wins Contract for Queensland Curtis LNG

Timor Sea FLNG Development Deal Signed by Four Firms

Shell to Deploy Air Products Heat Exchanger on Browse Basin FLNG Project

UK’s Douglas-Westwood Says Australia to Dominate FLNG Market through 2016

Australia a Rising Star in LNG Projects Worldwide

CB&I Wins Chevron Australia $2.3 Bln Gorgon Contract

FMC Technologies to Supply Subsea Systems for Shell's Prelude Project

Chart Industries Subsidiary to Supply Equipment for $40 Mln Baseload LNG Project

GE Wins Wheatstone Bechtel Compression Technology Order

Australia Pacific LNG Approves FID on First Phase of $20 Bln Two Train Queensland CSG to LNG Project

Subsea 7 Awarded $440 Mln Gorgon Contract from Chevron

CHINA

Reducing China’s Emissions and Transport Pollution Driving a Boom in LNG Vehicles

JAPAN

Mitsubishi Heavy Develops New-generation LNG Carrier

PAPUA NEW GUINEA

Costain Awarded FEED Contract on Flex LNG’s FLNG Project in Papua New Guinea

PHILIPPINES

Filinvest Grp and Two Aussie Firms to Build Philippines LNG Terminal

EUROPE / AFRICA / MIDDLE EAST

LITHUANIA

Fluor Wins Advisory Contract for Lithuania Klaipedos Nafta LNG Terminal

Statoil Contemplates Building Second Processing Train at its Melkoeya Island LNG Plant

SLOVENIA

Major Dispute over Italian Proposal for Offshore Gas Terminal near Slovenia Border

EQUATORIAL GUINEA

Equatorial Guinea Sees New LNG Train Deal by Year End

TURKMENISTAN

Iran’s Pars Enerji Builds LNG Storage Terminal in Turkmenistan

ISRAEL

Israeli Minister Halts LNG Terminal Plans

WORLDWIDE

Ezra Holdings Wins Three $85 Mln Subsea Contracts