East Africa: for LNG in a New Frontier Region

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1 17 th INTERNATIONAL CONFERENCE & EXHIBITION ON LIQUEFIED NATURAL GAS (LNG 17) 17 th INTERNATIONAL CONFERENCE & EXHIBITION ON LIQUEFIED NATURAL GAS (LNG 17) East Africa: Opportunities <Title of Presentation> and Challenges for LNG in a New Frontier Region <Title of Presentation> By: By: <Author Name>, <Organization> By: Derek Hudson, <Date> BG Group 16 April 2013

2 Legal Notice The following presentation contains forward-looking statements concerning BG Group plc s strategy, operations, financial performance or condition, outlook, growth opportunities or circumstances in the countries, sectors or markets in which BG Group plc operates. By their nature, forward-looking statements involve uncertainty because they depend on future circumstances, and relate to events, not all of which can be controlled or predicted. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Actual results could differ materially from the guidance given in this presentation for a number of reasons. For a detailed analysis of the factors that may affect our business, financial performance or results of operations, we urge you to look at the Principal risks and uncertainties included in the BG Group plc Annual Report & Accounts Nothing in this presentation should be construed as a profit forecast and no part of this presentation constitutes, or shall be taken to constitute, an invitation or inducement to invest in BG Group plc or any other entity, and must not be relied upon in any way in connection with any investment decision. BG Group plc undertakes no obligation to update any forward-looking statements. No representation or warranty, express or implied, is or will be made in relation to the accuracy or completeness of the information in this presentation and no responsibility or liability is or will be accepted by BG Group plc or any of its respective subsidiaries, affiliates and associated companies (or by any of their respective officers, employees or agents) in relation to it.

3 Agenda BG Group in East Africa Tanzania LNG project Global LNG context Potential socio-economic impacts of a LNG project in Tanzania Closing thoughts

4 Emerging hydrocarbon province Relatively unexplored frontier play East Africa: new exploration hotspot with recent material discoveries Reliable government institutions Favorably positioned to access robustly priced Asia-Pacific LNG markets Likely to underpin next wave of LNG developments BG Group has a strong acreage position in East Africa Legend: BG Group interests

5 BG Group in Tanzania Acquisition of 60% of Ophir s interests in Blocks 1, 3 & 4 in June 2010 BG Group appointed operator in July km Dar es Salaam Mkuranga -1 Mafia Deep 1ST -1 Nine consecutive successful gas wells Chewa Block 4 13,500 km 2 of seismic data acquired Songo Songo Kiliwani North Pweza Papa Block 3 Circa US$1 billion spent on E&A to date Zafarani First DST commenced offshore Tanzania in January 2013 Lavani Mzia Further E&A in 2013/14 to enhance resource base in support of land-based LNG project TANZANIA Mtwara Ntorya Jodari Chaza Mnazi Bay Msimbati Ziwani Block 1 WD: 500 m WD: 1,000 m WD: 2,000 m

6 BG Group in Kenya / Madagascar WD: 500 m WD: 1,000 m WD: 2,000 m Kenya BG Group operator on L10A & L10B blocks 10,400 km 2 of acreage in water depths from 200 to 2,000 metres 2,630 km 2 of 3D seismic acquired over two blocks Drilling planned for late 2013 / early 2014 Madagascar Non-operated block in unexplored frontier basin North-west coast of Madagascar 15,840 km2 of acreage in water depths from 200 to 3,000 metres Believed to be oil-prone Source: Wood Mackenzie KENYA TANZANIA 500 km Mombasa Majunga Offshore Profond Mbawa Gas Discovery Block L-10A Block L-10B MADAGASCAR

7 Nature of discoveries Discovered reservoirs not particularly complex geologically Seismic line across Jodari Highly permeable sandstones deposited in deep marine channel systems Normally pressured, low temperature reservoirs Multi-TCF discoveries in gas column ranging from 40 to 50 metres Dry gas with little or no contaminants 500 km Block 1 Challenging design of high deliverability well in extreme water depth TANZANIA Mtwara Jodari

8 Tanzania LNG development Discoveries scattered across four large blocks, distant from the shore Block 4 Export to international markets Water depths also limit offshore facility design Subsea only solutions controlled and monitored from the beach and floating production unit option considered DMO Block 3 Block 2 c. 200 km FLNG option still considered while preferred option is land-based LNG plant LNG LNG Indicative plant location Block 1 Mtwara TANZANIA Potential LNG site locations WD: 500 m WD: 1,000 m WD: 2,000 m

9 million tonnes per annum (mtpa) Global LNG supply / demand LNG demand is expected to continue to grow, mostly in Pacific Basin LNG supply growth driven by Qatar and Australia However, supply / demand gap expected to increase over the next decade Where is the next Qatar or Australia? Mozambique and Tanzania? Recent discoveries have built up significant resource base in East Africa Supply: Outlook Existing and under construction LNG trade forecast Supply / Australia Qatar c. 170 mtpa demand gap Source: BG Group interpretation of Wood Mackenzie (Nov 2012) Note: Supply adjusted by BG Group to account for chain losses

10 From East Africa to markets Well located to supply multiple markets on long-term basis or in response to short-term market fluctuation Equidistant from North East Asia and North East Europe UK 6,775 Distance from Tanzania to markets Extremely well located in respect to West Coast Indian markets Spain 5,320 Korea 6,616 China 5,759 Japan 6,945 Similar distance from market compared with Middle East exporters But East Africa LNG projects emerging at the same time as new potential exporters: US and Canada India 2,609 Tanzania Note: nautical miles single leg trip Singapore 4,057

11 Sources of state income Significant economic progress in East African countries in recent years Fairly modest level of human development: Kenya 143 Tanzania 152 Madagascar 151 Mozambique 184 Out of 187 countries in the United Nations Human Development Index Development of LNG projects has potential to transform economy Various direct and indirect benefits of deepwater LNG projects Source: UNDP 2011 Direct benefits: Foreign direct investment Employment Government take from the project Contribution to gross domestic product and gross national income Retained national income and national expenditure Indirect benefits: Induced impacts Multiplier effects from industry

12 Year - Year -8 Year -6 Year -4 Year -2 Year 0 Year 2 Year 4 Year 6 Year 8 Year 10 Year 12 Year 14 Year 16 Year 18 Year 20 Year 22 Year 24 Year 26 Year 28 Year 30 Number of employees Employment: Multiplier effect 60,000 50,000 40, indirect jobs for every direct job Induced Employment Induced employment Indirect employment Indirect Employment Direct employment Direct Employment 30,000 20,000 Not fully quantified 10,000 0 Source: Oxford Management Policy Note: Based on a two-train LNG project in Tanzania, LNG train size yet to be decided

13 Gas market development Governments have a key role in delivering investment enabling policy and regulation Mutually beneficial outcome to both in-country societies and multinational investors Possible step-change in economic development thanks to deep water LNG projects Can also facilitate development of fertiliser plants and power generation that have high multiplier impacts to economy Enough gas for all sustainable requirements

14 Closing thoughts Further exploration, appraisal and testing needed to bring LNG projects in East Africa to FID Further exploration and well testing planned by BG Group in Tanzania Global gas demand believed to outstrip gas supply Market opportunity for well located East African gas discoveries Potential significant economic contribution of LNG projects to East African countries Upcoming drilling in offshore Kenya to further build East Africa s importance as an emerging hydrocarbon province Thank you!

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