1. Atlantic Basin LNG Diverse Drivers that Require Diversified Marketing 06 June 2006 23 rd World Gas Conference

2. Atlantic Basin LNG Market Definition Growth in Demand Growth in Regasification Facilities

3. Atlantic Basin LNG Exporting LNG Importing Atlantic Basin Region

4. Atlantic Basin LNG Demand 22% 33%

5. NA Regas Facilities Development Regas Facility Announced in 2004 & 2005

6. European Regas Facilities Development Regasification Terminal Announced in 2004 / 2005

7. Dominate Market Drivers Price Weather Scheduling Shipbuilding Sourcing Constraints Suppliers Seeking Global Market Diversity

8. HH Prices : Historical & Forward Forwards: 05 Jan 2006

9. Brent Prices : Historical & Forward Forwards: 16 Dec 2005

10. 2005 Hurricane Season

11. Spanish Inland Rainfall (Oct – Sept) m

12. Example of Liquifaction Plant Build-Up

13. LNG Fleet : Actual and Projected (with no scrapping)

14. 147k CBM LNG New-Building Prices

15. Qatar Diversifying their Markets Qatar Japan UK Spain LNG plant Regas terminal Korea Italy USEC GOM Belgium India

16. Success Factors in the Atlantic Basin LNG Market Access to Premium North American Gas Markets Foundation of High-Volume Markets Diversified Atlantic Basin LNG Supply Flexibility During LNG Project Life Cycle Leveraging LNG with Pipeline Supply

17. Everett,MA Lake Charles, LA Cove Pt, MD ElbaIsland Henry Hub Pricing NA Premium and High-Volume Markets Premium markets High-Volume markets Altamira

18. European Markets Sagunto Rovigo Brindisi Bilbao Milford Haven I Isle of Grain Milford Haven II Sines Livorno Zeebrugge Huelva Cartagena Montoir Panigaglia Le Verdon El Ferrol Barcelona Fos Revithoussa Marmara Fos XOM Priolo Fos Cavou Zeebrugge RotterdamEemshaven PGNiG Existing/operational Under Construction Planned Shell Capacity/Planned Wilhelmshaven Dragon LNG Isle of Grain Expansion 1 & 2 Rosignano Canvey Island High-Volume markets ?

19. Shell’s Diversified LNG Supply Baja Capacity: 7.5 Elba Island Capacity: 3.1 Cove Point Capacity: 5.4 NLNG Trains 1-6 Capacity: 21.75 ESBI Tolling Brunei Capacity: 7.2 Altamira Capacity: 3.6 MLNG Capacity: 14.6 Hazira Capacity: 2.5 North West Shelf 1-5 Capacity: 16.3 Qatargas IV Capacity: 7.8 Oman/Qalhat Capacity: 10.3 Sakhalin Capacity: 9.6 All Figures are in mtpa LNG Plant Regas Terminal

20. Shell’s Atlantic Basin Gas Market Presence Shell Market Shell Regas Facility

23. Back-Up Slides

24. Spanish Mainland Water Reserves

25. Receiving Terminals Existing Planned Everett Elba Island Cove Point Nigeria Altamir a Nigeria Diversifying their Markets Spain Portugal France Turkey USEC Mexico GOM