Gertjan Lankhorst

CEO
GasTerra B.V.

dia 0
 Demand for natural gas on the different
continents - 2007
817
520
572

487
370
21 260 -168

97
83
-56

129
-110

-17 34

-14

Source: IEA Natural gas information 2008

Caloric value 40 MJ/m³

dia 1
 Demand for natural gas in Europe

Development Demand and EU production

EU-31
900

800 Primary gas demand Indigenous production (incl. Norway) Import

700
Bcm (40,0 MJ/m³)

600

500

400

300

200

100

0
2005 2007 2009 2011 2013 2015 2017 2019

Source: Global Insight, European gas supply & demand service 2008

dia 2
 GasTerra and the Groningen Field
the birth of a European Gas Market

Dutch State Royal Dutch Shell ExxonMobil

Groningen Field
GasTerra

Dutch Small Fields

Imports

dia 3
 Natural gas production per country - 2007

Natural gas production (Bcm)

Russia 651

United States 546

Canada 183

Iran 107

Norway 91

Algeria 90

The Netherlands 76

United Kingdom 76

Indonesia 70

China 68
Natural gas production

Other 1.073

- 200 400 600 800 1.000 1.200

Bcm

Source: IEA Natural gas information 2008

Caloric value 40 MJ/m³

dia 4
 European sales by company in 2006 (bcm)

Source: Cedigaz, The players on the European market 2008 edition

Caloric value 40 MJ/m³

dia 5
 Traded volumes on NBP and TTF
(average volumes per month)
NBP
TTF
140 14

120 12
Traded NBP volume (BCM)

Traded TTF volume (BCM)

100 10

80 8

60 6

40 4

20 2

0 0
jan- jan- jan- jan- jan- jan- jan- jan- jan- jan- jan- jan- jan-
96 97 98 99 00 01 02 03 04 05 06 07 08
Sources: GTS and NationalGrid

dia 6
Supply and demand of natural gas in Europe

Supply/demand gap op
Verwacht overschot / tekort Europe
Europese Gasbalans

40
20
0
[bcm - 35,17]

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
-20
-40
-60
-80
-100
-120

Mid-Case High Supply Case Low Supply Case

dia 7
 Forward spotprices and oil linked prices
Oil indexed gas price
Spotprices (TTF forward prices)
30

25
EUR/MWh

20

15

10
2009 Q2 2009 Q4 2010 Q2 2010 Q4 2011 Q2 2011 Q4 2012 Q2 2012 Q4

dia 8
 Spotprices versus oil indexed prices
(average prices per month)
Oil indexed gas price
Spotprices (TTF month ahead)
35

30

25
EUR/MWh

20

15

10

5
jan-04 jan-05 jan-06 jan-07 jan-08
Source: Argus month ahead bid/offer averages and BAFA

dia 9
BBL - connecting markets

Gas-to-gas
Gas-to-oil

enabling GasTerra to conclude a longterm contract with Centrica

dia 10
 NBP and TTF year ahead
(average prices per month)
NBP
TTF
45

40

35
EUR/MWh

30

25

20

15

10
jan-04 jan-05 jan-06 jan-07 jan-08
Source: Argus bid/offer averages

dia 11
Gas Infrastructure Projects

dia 12