Assumptions

gas price (US$/mcf)

Up stream liquefaction capex (US$ bn)
Depreciable life
Up stream E&P capex (US$ bn)
Depreciable life
Million ton LNG to Mcf conversion factor
Million ton LNG to boe conversion factor

4
10.2
40
10.2
30
48709206040
8873114.4635

Revenue
LNG production
Gas price
Opex
Upstream opex
Gas production(boe)
Opex (US$ per boe)
Upstream liquefaction opex
EBITDA before royalty
Royalty
EBITDA
DD&A
EBIT
Taxes
Net Income

2015
779347.296639064
194,836,824,160
4
505
355
35,492,458
10
150
778,842
77,935
700,908
595
700,313
210,094
490,219

2016
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2017
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2018
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2019
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2020
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2021
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2022
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2023
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

10

11

12

2024
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2025
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2026
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

13

14

15

2027
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2028
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2029
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

16

17

18

2030
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2031
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2032
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

19

20

21

2033
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2034
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2035
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

22

23

24

2036
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2037
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2038
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

25

26

27

2039
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2040
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2041
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

28

29

30

2042
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2043
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

2044
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
595
1,401,370
420,411
980,959

31

32

33

2045
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
255
1,401,710
420,513
981,197

2046
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
255
1,401,710
420,513
981,197

2047
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
255
1,401,710
420,513
981,197

34

35

36

2048
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
255
1,401,710
420,513
981,197

2049
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
255
1,401,710
420,513
981,197

2050
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
255
1,401,710
420,513
981,197

37

38

39

2051
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
255
1,401,710
420,513
981,197

2052
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
255
1,401,710
420,513
981,197

2053
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
255
1,401,710
420,513
981,197

40
2054
1558694.59327813
389,673,648,320
4
860
710
70,984,916
10
150
1,557,835
155,869
1,401,965
255
1,401,710
420,513
981,197