LNG UPDATE

December 2011

TABLE OF CONTENTS

AMERICAS

U.S.

Sempra Energy to Ask DOE for Approval to Build Gas Export Facility

Alaska Governor Parnell Considers New LNG Export Facility Vision

Bechtel Wins $3.9 Bln EPC Contract from Sabine Pass Liquefaction

EPA Proposes Significant Changes to MRR and BAMMs

Obtaining Financial Backing for LNG Export Plans May be Difficult

CHILE

Chile’s GasAtacama Plans $300 Mln Offshore LNG Regasification Terminal

LATIN AMERICA

Latin America is Abundant with LNG Opportunities

ASIA

AUSTRALIA

Australia Carbon Tax to Hit LNG Project Costs but could Hurt Profit Margins as Well

Australia Pacific LNG Awards Major Pipe Contract to Queensland Manufacturer Vinidex

BANGLADESH

Bangladesh Planning Commission Okays LNG Pipeline Project

CHINA

GDF SUEZ Makes Deals with CIC, CNOOC

JAPAN

INPEX Plans to Sell its 10 Percent Stake in Ichthys LNG

INDIA

Shell, Total to Expand India’s Hazira LNG Terminal Capacity in 2012

EUROPE / AFRICA / MIDDLE EAST

CYPRUS

Engineer Says Logistics of Building Cyprus LNG Plant Would Require a Decade

ITALY

Italy’s Api Waits for Official Word to Proceed with Falconara LNG

NORWAY

Teekay Offshore to Buy Sevan Marine’s FPSO for $165 Mln

GHANA

Italy’s Eni Reportedly Considering LNG Project in Ghana

UKRAINE

U.S. Companies Show Interest in $1.5 - $2.5 Bln Ukraine LNG Project

IRAQ

Iraq Signs Final $17.2 Bln Shell, Mitsubishi JV Gas Deal

OMAN

Willbros Selected to Continue Providing Maintenance for Oman LNG