LNG UPDATE

November 2011

TABLE OF CONTENTS

INDUSTRY ANALYSIS

OVERVIEW

Qatar, World's Largest LNG Exporter Changes Export Strategy as U.S. Output Grows

AMERICAS

U.S.

DOE Grants First Part of LNG Export License to Dominion Cove

CANADA

Shell JV Buys Potential Kitimat, BC LNG Export Site from Cenovus

CANADA / JAPAN

Maersk Reaches Deal on Sale of LNG Business for $1.4 Bln to Teekay LNG and Marubeni Corp

ASIA

Shell Says Asia will Drive Energy Growth

ASIA / PACIFIC

GDF Suez Makes Development Strategy Deals with CIC, CNOOC in Asia-Pacific Region

AUSTRALIA

Santos, GDF Suez FLNG Plan now Projected to Late 2018

Ichthys $19.4 Bln LNG Project FID Scheduled for End of Year

WorleyParsons Wins Contract for Wheatstone Construction Management

Sembcorp Marine Wins $100 Mln Contract to Assemble Pipe-Rack Modules for APLNG

LNG Projects will Put Pressure on Australian Pipeline Capacity

INDIA

India's Petronet in Talks to Purchase Overseas LNG Liquefaction Plants

India Clears Petronet Plan to Triple Capacity of Kochi LNG Terminal

PAKISTAN

Pakistan’s OGRA Prepares to Award Port Qasim LNG Import Contract

PAPUA NEW GUINEA

InterOil Seeks Partner for Liquid Niugini Gas Led LNG Project in Papua New Guinea

$15 Bln PNG LNG Project On-Track and On-Budget for 2014 Start-Up

EUROPE / AFRICA / MIDDLE EAST

ALGERIA

Sonatrach Expects to Start Production at New Algeria LNG Unit Next Year

ANGOLA

Angola’s $8 Bln Soyo LNG Project Scheduled to Start Up Before Year-End

KENYA

Kenya Expects Mombasa LNG Terminal to Cost $500 Mln

MOZAMBIQUE

Offshore Mozambique Gas Find to Boost BPCL LNG Market

RUSSIA

Total Becomes Main International Partner for Yamal LNG

Kogas Proposes Mini LNG Plants, DME Plant in Russia's Far East

UKRAINE

Azerbaijan Interested in Participating in Ukraine LNG Terminal Project

IRAN

Iran Says LNG Projects Still Active but Delayed

Iran to Focus on Widening Development of LNG Projects

IRAN / IRAQ

Iran, Iraq to Sign First Natural Gas Contract

IRAQ

Iraqi Cabinet Expected to Approve $17.2 Bln Shell JV Gas Deal

ISRAEL

Israel Signs $140 Mln Deal for Off-shore LNG Terminal