1GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

3rd ANNUAL CONFERENCE

PUBLIC GAS CORPORATION OF GREECE S.A. PUBLIC GAS CORPORATION OF GREECE S.A.

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GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

CONTENTS 1/2CONTENTS 1/2

• DEPA Profile

• The National Gas Grid

• Main Characteristics of Gas Infrastructure

• Market Characteristics

• Transportation Tariffs

• DEPA Future Projects

• LNG Import Terminal

• The Role of the Terminal in the National Gas System

• Terminal Operation History

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CONTENTS 2/2CONTENTS 2/2

• Capacity of the Terminal

• Main Process Units

• Simplified Process Flow Diagram

• The Construction of the LNG Tanks

• LNG Tank Section

• Send Out Gas Specifications

• Supervision Control and Safety Systems

• Future expansion of the LNG Terminal

• Main Characteristics of the LNG Vessel- Terminal Port Limitations

• Future Plan of LNG Transportation

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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DEPA PROFILE

• DEPA was founded in September 1988.

• First introduction of Gas in Greece: November 1996.

• Actual ownership of DEPA: Greek state 65%, Hellenic Petroleum (ELPE) 35%.

• Future structure of DEPA: According to the draft of the new Gas Law for the market opening there will be unbundled into 2 companies :

1. DEPA (Holding Company including Trading division). 2. DESFA (Transportation Division & LNG Terminal).

• DESFA will be 100% subsidiary of DEPA.

• DEPA will compete other potential suppliers.

• Expected turnover of DEPA at the end of 2005: 620 M€.

• 3 distribution companies EPA for 4 big cities in GREECE : Athens, Thessaloniκi, Larissa, Volos (51% DEPA and 49% foreign investor). License since 2001 for 30 years .

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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THE NATIONAL GAS GRIDTHE NATIONAL GAS GRID

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MAIN CHARACTERISTICS OF GAS INFRASTRUCTURE

The Greek Gas Transportation System includes:

• Main HP pipeline (70 bar): 512 km

• HP supply branches to the main regions: 440 km

• Border Metering Station to receive the Russian gas

• LNG Import Terminal to receive the LNG from Algeria

• 1 Gas Dispatching Control Center (GCC), 1 Back-up Control Center (BCC) and 5 other Operating & Maintenance Bases across the National Gas grid.

• SCADA System for telesupervising and control

• More than 25 M/R stations

• More than 2000 km of MP & LP distribution networks

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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MARKET CHARACTERISTICS

Own production : 0%Imports : 100%

Consumer distributionPower & Cogeneration: 72%Industrial: 18%Domestic & Commercial: 9%CNG for vehicles: 1%

Annual growth rate between 2003 - 2004: 10%Next decade annual growth rate forecast: 10%Contribution to Greece's entire energy needs by 2010: 17%Import points (2004):

1. Strymonohori (Gazexport)2. Revithoussa LNG Terminal (Sonatrach)3. Kypoi (future point: 0,75 bcm p.a. by BOTAS starting in 2007)

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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DEPA FUTURE PROJECTS

•Expansion of the LNG Import Terminal

•GTI pipeline with the associated Border M.S.

•IGI pipeline (multiple phases)

•Gas Compression Station near Thessaloniki

•Gas Supply to big consumers (power & cogeneration plants)

•Expansion of the gas grid (HP & MP distribution) to new areas near the existing transmission system

•Bus Gas Refilling Stations (Athens, Thessaloniki)

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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TARIFF

Capacity Charge Tariff 620,06 €/ MWh/ dayCommodity Charge Tariff 0,307 €/ MWhStorage Fee no

no

Note: This tariff is actually under discusion with the Regulator.The tariff applies to the whole transportation system including the LNGTerminal (postage stamp charging).

Other associated with terminaling basic services

2006 TRANSPORTATION TARIFFS

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

L.N.G. Import Terminal - L.N.G. Import Terminal - Revithoussa IslandRevithoussa IslandMegara Bay – Attica – GREECEMegara Bay – Attica – GREECE

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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LNG Terminal Location

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

TheThe Role of the Terminal Role of the Terminal in the National Gas Systemin the National Gas System

STRATEGIC ROLEThe Terminal is the second gas supply source in the System in case of loss of the first source (Russian gas).

PEAK SHAVING ROLE It covers the overall gas peak demand in a very fast response.

ROLE FOR THE SECURITY OF THE SYSTEMIt maintains the minimum operating pressure in the System and especially in the south section where the biggest consumers with high required gas supply pressure (power plants) are located.

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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TERMINAL OPERATION TERMINAL OPERATION HISTORYHISTORY

First LNG cargo unloaded on the 3/02/2000.

First gas send out took place on the 11/02/2000.

Performance test (full gas send out) was carried out between 3 and 6/05/2000.

Hand over of the plant to DEPA staff took place on the 6/11/2000.

All gas is supplied from Algeria until today.

Contracted max. amount of gas supply = 0,68 bcma or 0,45 mta.

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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Unloading capacity: 3.500 m3 LNG / hour.

Storage capacity: 2 tanks of 65.000 m3 LNG

useful volume.

Send out capacity: - 270 m3 LNG/hour or

1,4 bcma (S.M.S.R.). - 407 m3 LNG/hour or

2,1 bcma (Peak with 1 vaporizer as spare). - 533 m3 LNG/hour or 2,5 bcma (Full S.R. without spare).

Capacity of the TerminalCapacity of the Terminal

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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Reception and Unloading of all type of LNG cargoes (with capacity from 25.000 m3 LNG up to 130.000 m3 LNG).

LNG Storage and Boil Off Gas Recondensation.

LNG Pumping in 2 stages (13 and 80 barg) and Re-vaporization of LNG before sending out to the National Gas Grid.

Utilities, Detection, Protection and Fire Fighting Systems.

Fully automatic supervision and control systems for the smooth operation and the safety of the plant.

Main Process UnitsMain Process Units

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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Simplified Process Flow DiagramSimplified Process Flow Diagram

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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Two full full-containment type (double shell) tanks located in purpose-made pits on the island hill.

Inner container made of 9 % Nickel stainless steel.

Outer container made of pre-stressed concrete.

1m-thick insulation material between inner and outer containers.

Support by 212 seismic isolating absorbers.

These supports can absorb movements of the tank (in a distance up to 30 cm) in any direction in case of an earthquake with max. horizontal acceleration of a magnitude of 0,5 g, (earthquake level SSE).

The Construction of the LNG TanksThe Construction of the LNG Tanks

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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LNG Tank SectionLNG Tank Section

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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Pressure = 26 – 64 bar g.

Temperature > 3,5 °C.

All Boil off gas is re-condensed in order to be sent out. Possibility to use Boil-off gas as fuel gas.

No odorization is required for the send out gas.

No High Heating Value or Wobbe Index adjustment is required.

Two types of LNG Vaporizers exist: 1. Open Rack (main equipment). 2. Submerged Combustion (stand-by or for

peak).

Note: The sent out gas (vaporized LNG) is mixed with the Russian gas in the Gas Control Center before being supplied to the final consumers.

Send Out Gas SpecificationsSend Out Gas Specifications

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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Distribution Control System (DCS)Emergency Shut Down System (ESD) (4 levels)Fire Gas Spill System (FGS)- Fire Detection Panel- Fire Protection PanelPower Control System (PCS)Earthquake Monitor System (2 levels)

- Operating Basis Earthquake (OBE) - Safe Shut down Earthquake (SSE)

Civil Monitoring System (CMS)Docking SystemMooring Hooks SystemIntrusion System

Supervision, Control and Safety SystemsSupervision, Control and Safety Systems

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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FUTURE EXPANSION OF FUTURE EXPANSION OF THE LNG TERMINALTHE LNG TERMINAL

LNG Unloading rate increase to 7.250 m3 LNG/hour.

Sustained Maximum Sendout LNG rate 1.000 m3 LNG/hour or 5 bcma. (with spare).

LNG vaporization capacity = 1.250 m3 LNG/hour. (Peak without spare).

Small cogeneration plant for the power and thermal needs (hot water) of the Terminal.

Provisions for future

construction of the 3rd tank and of a power plant of 400 MW.

Utilities capacity increase for the need of the process requirements.

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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MAIN CHARACTERISTICS OF THE LNG MAIN CHARACTERISTICS OF THE LNG Vessel-LNG Terminal restrictionsVessel-LNG Terminal restrictions 1/3 1/3

The LNG annual quantities to be transported from Algeria to Revithoussa Terminal = 0,51 bcm (870.000m3) min and 0,68 bcm (1.170.000m3) max. DEPA chartered the LNG vessel CENTURY with a time charter agreement till June 2007. Century (year 1974) Main Characteristics: Loa = 181,55 m, B = 29,00m, T = 8,34m, cargo tank capacity = 29.500m3,service speed = 16 knots. Containment system = Independent type B (aluminum - spherical shape). Main engine = diesel (16.800 Kw max).GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa

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MAIN CHARACTERISTICS OF THE LNG MAIN CHARACTERISTICS OF THE LNG Vessel-LNG Terminal restrictionsVessel-LNG Terminal restrictions 2/3 2/3

        LNG Operation data for CENTURY:       Economical speed = 12 - 13 knots       Round Trip (Skikda) = 8 days       Round Trip (Arzew) = 10 days       Annual voyages for Skikda = 350 / 8 = 43,

Arzew = 350 / 10 = 35       Annual transportation Capacity = 28350 x 43 = 1.219.000m3 (Sk), 992.000 m3 (Az).       The LNG take-off program of DEPA for 2005 is 31 cargoes and for 2006 is 36 cargoes.

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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MAIN CHARACTERISTICS OF THE LNG MAIN CHARACTERISTICS OF THE LNG Vessel-LNG Terminal restrictionsVessel-LNG Terminal restrictions 3/3 3/3

        LNG Terminal Restrictions-Jetty equipment:      Approach and berth LNG vessels from 25.000 m3 capacity up to 130.000 m3

       Minimum water depth at berth = 13,6 m      Maximum vessel’s length overall = 310 m       Maximum vessel’s draft = 11,80 m       The jetty is equipped with six fenders (four small - two large) of 15 t/m2 max hull pressure.       Mooring lines with four units on berth (2 x 60 tons quick release hooks with capstan) and six units on shore (3 x 100 tons quick release hooks with capstan).GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa

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FUTURE PLANSFUTURE PLANS FORFOR THETHE LNG LNG TTRANSPORTATIONRANSPORTATION 1/2 1/2

The time charter agreement for the LNG Century terminates in June 2007 and DEPA estimates that until the end of this period there is no need for a bigger vessel.

A new business Plan is under preparation taking into consideration the new gas law (energy market liberalisation) and unbundling of the Company.

  Scenarios for the short period of July 2007 - July 2011(2008 - 2012):

1.Extend the existing time charter (same LNG annual demand)

2.Charter two small vessels (annual LNG demand >0,68 bcm) or

3.Charter one LNG vessel of medium size. GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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FUTURE PLANSFUTURE PLANS FORFOR THETHE LNG LNG TTRANSPORTATIONRANSPORTATION 2/2 2/2

        Scenarios for the long period (after 2012):

1.     Build a new LNG vessel

       Buy an existing LNG vessel

       Charter for long period a LNG vessel

        A medium size LNG vessel of 65.000 - 75.000 m3 capacity is probably the most convenient for a high seasonal demand and annual > 0,8 bcm (Internal study).

GIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa 3.11.05

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•Plant Tour•Thank you !

V. Triantafyllidis •GAS TRANSPORTATION CONTRACTS MANAGER•TEL. +30 210 6793686•E-mail: v.triantafyllidis@depa.grGIE 3rd Annual Conference – DEPA Gas Supply Dpt – Revithoussa

3.11.05