Valdez infrastructure*FLNG*LNG export plant*Future growth potential*

1. Floating Liquefaction
An Alternative Solution for Alaska
13-14 September 2012
© 2012 Excelerate Energy L.P. All Rights Reserved. 1

2. Excelerate Energy makes no representations or warranties, express or implied,
of any kind with respect to Information provided in this presentation, including
without limitation with respect to the information’s accuracy or completeness.
Excelerate Energy will not be liable for any reliance or usage by a third party of
any information within this presentation. Any representations or warranties shall
be made, if at all, only in definitive written agreements that may be entered into
by the Parties.
© 2012 Excelerate Energy L.P. All Rights Reserved. 2

3. © 2012 Excelerate Energy L.P. All Rights Reserved. 3

4. Company Profile
• Pioneer and world leader in offshore LNG solutions
• Unrivaled asset base offering redundancy and security
– 8 regasification vessels and 1 conventional LNG carrier in operation
– 1 regasification vessel under construction
– 6LNG receiving facilities owned/operated directly or under partnerships
• Unique ability to provide turnkey integrated solutions including:
‒ Basic and detailed facility design
‒ EPC style construction and commissioning of offshore and dockside facilities
‒ Terminal Operations
‒ Conventional transportation of LNG
• Pioneer in ship-to-ship transfer of LNG
• Ability to use assets and expertise to maximize LNG value chain
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11. FLSO Vessel
Modular Design
Gas Processing Power and
Liquefaction (As Required) Utilities
Modules
LNG
Transfer
LNG
Jetty Carrier
Structure
© 2012 Excelerate Energy L.P. All Rights Reserved. 11

12. 4 MTPA FLSO Vessel
(Processing On Shore)
Power and
Utilities
Liquefaction
Modules
LNG
Transfer
BOG
Management
© 2012 Excelerate Energy L.P. All Rights Reserved. 12

13. FLSO Vessel
Specifications
Liquefaction Capacity: 3-4 MTPA
Storage Capacity:
LNG Storage 250,000 m3
Condensate Storage 35,000 m3
Fuel Gas for Power Generation: 9% of Feed Gas
Feed Gas Requirement*: ≈450 mmcfd (3 MTPA)/ ≈600 mmcfd (4 MTPA)
Dimensions:
Length Overall 338.0 m
Breadth 62.0 m
Depth 33.4 m
Designed / Scantling Draft 15.0 m / 15.5 m
Weight:
Full Load Displacement 281,992 T
Deadweight 170,979 T
Accommodations: 100 Persons
Estimated Crew Size 70 to 75 Persons
* Feed Gas includes Fuel Gas for Power Generation, and is dependent on composition of feed gas
© 2012 Excelerate Energy L.P. All Rights Reserved. 13

14. Section 3
A Dockside Floating Liquefaction Solution
Excelerate Energy’s Lavaca Bay LNG Project
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15. Lavaca Bay LNG Project
Site Location
Planned
Liquefaction Site
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16. Lavaca Bay LNG Project
26 Mile Ship Channel
Planned
Liquefaction Site
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17. Lavaca Bay LNG Project
Benefits
• Project-friendly area
– Port and local community are supportive of the project
– Highly industrialized area with Formosa Plastics and ALCOA in close proximity
– ≈5 bcf of pipeline capacity nearby with construction of a 32-mile pipeline lateral
• Permit likelihood high given prior activities
– Site previously permitted by FERC for an LNG import terminal
– Interconnecting pipeline route and tie-ins also previously permitted
– Approvals are still in place with the port for dredging work required
– Result is a clear roadmap for project permitting and early identification of issues
• Commercially attractive site with project control and expansion potential
– Sufficient room available to expand and accommodate a second vessel
• Phase I FLSO at 4 MTPA, with a Phase 2 expansion FLSO at 4 MTPA
– DOE Export license for 10 MTPA of LNG to FTA countries received 9 August 2012
– Non-FTA application will be submitted to DOE by mid September 2012
© 2012 Excelerate Energy L.P. All Rights Reserved. 17

18. Lavaca Bay LNG Project
8 MTPA of LNG Export
Phase 1
Phase 2
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19. Section 4
Floating Liquefaction,
An Alternative for Alaska
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20. Alaska’s Natural Gas Resources
• North Slope is estimated to
have 236 TCF of NG
• Cook Inlet is estimated to
have 19 TCF of NG
• These numbers do not
include the estimated
volumes of shale gas, tight
gas and hydrates
• North Slope gas is “wet”
gas with higher heating
value which is attractive to
Asian markets
© 2012 Excelerate Energy L.P. All Rights Reserved. 20

21. Advantage of Alaska LNG
• Large Gas Resources near
existing infrastructure
• Limited Environmental Impact
• Not part of shale LNG export
debate
• Stable political climate
• Close proximity to US and global
markets
• State regulatory approvals are in
place to produce and transport
the gas
© 2012 Excelerate Energy L.P. All Rights Reserved. 21

22. Alaska’s LNG Export
Utilizing A Floating Liquefaction Solution
• Available pipeline gas source
– 600 mmscfd required
• 4 MTPA FLSO vessel
– Robust facility built to withstand Santos
Basin, Brazil MetOcean conditions
• Black & Veatch PRICO process, a
simpler and reliable approach
• Small footprint with minimal
environmental impact
• Dockside mooring in a relatively
benign environment
• Fraction of the cost of an on-shore
facility at approximately $450 per ton
• 44 months from FID to first LNG
© 2012 Excelerate Energy L.P. All Rights Reserved. 22

23. Section 5
Commercial Considerations
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24. Distance to Markets
From Alaska
Valdez, AK
UK:
Japan: 24 Days
South Korea: 9 Days
11 Days Dominican
Republic: 15 Days
Puerto Rico: Bahrain:
El Salvador: 15Days 25 Days
India: Hawaii: 11 Days
22 Days 7 Days
Brazil: 20 Days
Chile:
17 Days
Argentina: 22 Days
© 2012 Excelerate Energy L.P. All Rights Reserved. 24

25. Potential Deal Structure
• Excelerate may provide services in any combination of the following:
– Tolling Agreement – Customer sources its own gas with a take-or-pay
Liquefaction Capacity Agreement with Excelerate (potentially with LNG
transportation to market)
– DES/FOB LNG Supply Agreement – Customer purchases LNG from Excelerate,
either on an FOB (at terminal) or DES (delivered) basis with Excelerate supplying
natural gas at agreed price (plus premium and fuel)
– EE Capacity Agreement – Excelerate purchases LNG cargoes for its trading
portfolio – comprising (i) excess production beyond nameplate capacity and/or
(ii) a dedicated portion of project nameplate capacity
Tolling
Agreement Customer A
DES/FOB
Alaska Gas Purchase ELS Alaska LNG Supply Agmt Customer B
Gas Supply Liquefaction Company
Capacity Excelerate
Agreement
Trading
© 2012 Excelerate Energy L.P. All Rights Reserved. 25

26. Excelerate’s FLSO: A Solution-Based Approach
Important Floating Liquefaction Project Facts:
• Markets and end-users need a natural gas solution,
not just an LNG terminal or vessel
• The liquefaction vessel is only part of the equation
• Liquefaction service providers must be well versed
in all aspects of a project, and the LNG value chain
The Excelerate Energy Advantage:
• Flexibility in liquefaction commercial structures
• Advanced work on Liquefaction FEED and global
leading experience in the floating LNG technical
space
• Industry leader in downstream regasification
facilities and development of new market access
points
• A well established and broad downstream portfolio
of LNG end-users both in LNG commodity sales and
regasification capacity
© 2012 Excelerate Energy L.P. All Rights Reserved. 26

27. EXCELERATE ENERGY L.P.
1450 Lake Robbins Drive, Suite 200
Thank you! The Woodlands, TX 77380
1 (832) 813-7100
www. excelerateenergy.com
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