The Global Context For Alaskan LNG

Presented to: LSI Energy in Alaska Conference

Agenda

• 12-18 months into the oil price collapse
  
  - What have we learned?
• Will the "gap" in oil and gas prices return?
• Recent changes in LNG markets – temporary or permanent?
• Alaska LNG Project risks
  
  - Insufficient demand, supply competition, or both?
• Key indicators to watch going forward

Previous themes at this conference

• 2011: Shale gas creates massive uncertainty for pipeline project to Lower-48
• 2012: Shift in focus of Alaska P/L project to LNG exports due to the rise of North American shale gas.
  
  - The potential effect of shale on global LNG prices
  - The rise of LNG supply competition
• 2014: Collapse in oil prices and the closing of the oil/gas price "gap"