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This presentation has been prepared by Wood Mackenzie Limited for delivery on
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450
Gap
of ~160 mtpa,
Gap of ~160 mtpa,
~8.5
per
year
~8.5 tcf
tcf per
year
350
300
mtpa
400
250
200
150
100
50
0
2012
Operational
2025
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Already discovered
conventional gas
- NOC and/or IOC
controlled
Exploration for
additional
conventional gas
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(2012)
~4900 tcf
~4900
tcf
Conventional Conventional
Unconventional
~7800 tcf
~7800
tcf
Conventional
Unconventional
Unconventional
tcf
80
60
40
20
0
2007
2008
2009
2010
2011
2012 1H
Discovery year
Rest of World
Australia
East Africa
East Mediterranean
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(2007)
(2012)
35%
~2100 tcf
35%
~1660 tcf
65%
~3120 tcf
NOC
IOC
65%
~3860 tcf
IOC
NOC
IOC
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Important to several
of the selected IOCs
Focus has broadened in the last six years, to encompass less NOC
opportunities, exploitation of discovered gas, exploration plus unconventional
Source: Wood Mackenzie
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HH Pricing
Exposure
Unconventional
Upstream
Richer
LNG
US
Canada
East Africa
Australia
Russia
Traditional Asia
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Conclusions
Conclusions
Lots of gas needed to meet demand growth and to replace lost capacity
Challenge now is less about how to access gas, more how to combine options
It appears that this will comprise a mix of unconventional, IOC controlled conventional
gas and more exploration, as reflected in IOC gas portfolios
NOC
is is
thethe
bigbig
loser
NOCcontrolled
controlledgas
gas
loser
Developing LNG projects will never be easy, but perhaps we should all now feel a little
more comfortable
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Contacts
Name: Frank Harris
Position: Head of Global LNG Consulting
T: +44 (0)131 243 4249
E: frank.harris@woodmac.com
Name: Noel Tomnay
E: giles.farrer@woodmac.com
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