1 Anatomy of a Successful LNG Project Gastech 2008 Original Conceptual Photo of EG LNG Train 1

2 - Henry Aldorf Regional Vice-President Business Development - Bonifacio Monsuy Deputy Managing Director EG LNG - Al Pace Project Director Anatomy of a Successful LNG Project GasTech 2008 Anatomy of a Successful LNG Project GasTech 2008

3 - Project Development - Entrepreneurial Company - Health, Environmental, Safety, Security - Cost - Quality – Conformance to Requirements - Schedule - National Content What Makes a Successful Project?

4 - Project Developed in Record Time: August 2002 Recommend LNG Plant June 2004 EPC Contract Notice to Proceed - EG LNG: Formed Ahead of Schedule - Safety OSHA Recordable Rate Million Hours without Lost Time Incident EG LNG Train 1 Successes

5 -Cost: Within Budget -Quality: Exceeded Nameplate Capacity in Plant Performance Test -Schedule: First LNG Shipment 5 Months Ahead -National Content: Exceeded Goals -Cost: Within Budget -Quality: Exceeded Nameplate Capacity in Plant Performance Test -Schedule: First LNG Shipment 5 Months Ahead -National Content: Exceeded Goals

6 - Highly Experienced Team - E.G. Government Placed Priority on Project - Shareholders Aligned - Synergy Between Gas Supplier & Train 1 - Self Financed - Lessons Learned From Ongoing Operations - All Offtake to One Entity Project Development - How We Did it

7 - Staffed with Senior People - Managed Against a Business Plan - Excellent E.G. Government Cooperation - Local Business Entities Assistance - Immediate Start with National Staffing - Cost Control Like a Project - Managed to a Schedule Entrepreneurial Company Building Why It Was Successful Entrepreneurial Company Building Why It Was Successful

8 - Proven General Contractor - Proven Technology - Proven Vendors and Subcontractors - Serial No. 8 - Lump Sum Turn Key - Incentives for: Safety, Schedule, National Content, Plant Production Project Execution Model Setting Up For Success Project Execution Model Setting Up For Success

9 - Management Commitment and Strong Participation - Created Culture of Safety First - Agreed Safety Procedures Before Mobilization - More “Boots on the Ground” - Safety Incentives - All Incidents Reported & Investigated, Even Property Damage Project Execution Model Health Environmental Safety (HES) Project Execution Model Health Environmental Safety (HES)

10 - Highly Experienced Team Both Owner & Contractor Experience - Owner’s PMT Resided with Contractor Center of Gravity Shift - Created a One Team Environment Project Execution Model Project Management Fundamentals Project Execution Model Project Management Fundamentals

11 - Minimized Change from the FEED (AFE) Basis - Owner’s PMT did not Question the Need for a Quick Response - Owner Used a Variety of Subject Matter Experts Project Execution Model Engineering Project Execution Model Engineering

12 - Long Lead Orders Before Financial Investment Decision - International Procurement - Project Specific Construction Jetty - Considerable Owner Inspection (In Addition to Contractor’s Inspection) Project Execution Model Procurement Project Execution Model Procurement

13 - Built Dedicated Facilities - Brought in Professional Instructors (Spanish Speaking) - Dove-Tailed Training Schedule with Construction Staffing Plan Project Execution Model Craft Training Project Execution Model Craft Training

14 Project Execution Model Craft Training Project Execution Model Craft Training

15 - Construction Participation in Design for Constructability - Very Effective Early Works Program at Site - Strong Early Focus on Engineering & Procurement Schedules Ensured Materials & Equipment On Site When Needed Project Execution Model Construction Project Execution Model Construction

16 - Assumed from Day 1 that Money Would be Tight - Very Strong Emphasis on Owner’s Cost Forecasting - Schedule – Sense of Urgency from Day 1 + Incentives Project Execution Model Project Controls Project Execution Model Project Controls

17 - A Great Team Effort - Highly Motivated, Creative, Experienced Personnel - Fundamentals Still Apply Closing Comments

18 Aerial Photo of EG LNG Train 1