Dinner Talk 1st February 2012

Floating Storage Regasification Unit (FSRU):

Its implication to Indonesia’s Gas Business Landscape, Including Commercial, Technical and Operational Aspects

Hendra Jaya

President Director : PT Nusantara Regas

WEST JAVA FLOATING STORAGE REGASIFICATION TERMINAL (FSRT)

The presentation is made solely for the purpose of this event and is not intended to be andshould not be used by any other person or entity. The contents may contain copyrightand/or legally privileged information and the reader must therefore not use, copy, discloseor take any action based on this presentation material or any information herein.

PT Nusantara Regas (or by any of their respective officers, employees or agents) will not inany manner whatsoever be deemed or construed to implicitly or explicitly represent orwarrant the accuracy or completeness of the information or the contents of thispresentation material. All consequences and/or liabilities (including without limitation,those arising from negligence) to other parties for the utilization of the documents arespecifically disclaimed.

Disclaimer

3

LNG terminal 1

Potential for additional FSRU

Sumatra

Natuna

Kalimantan

Sulawesi

Nusa Tenggara

Papua

xx Conventional

Potential

reserves 2007

4.6

1.4

7.9

2.4

14

2.4

0.1

3-7

0.1

24

4553

32

xx CBM Recoverable

reserves 2007

Existing Java gas supply

shortfall of 1.1 bcfd

Existing Java gas supply

shortfall of 1.1 bcfd Java island reserves inadequate to

supply entire local demand

• R/P ratio* of just 16 years if Java fully

supplies demand today

Java island reserves inadequate to

supply entire local demand

• R/P ratio* of just 16 years if Java fully

supplies demand today

3.60.43.9

SurplusLocal

demand

Produc

tion

1.72.1

Local

demand

0.5

Produc

tion

Surplus

0.1

Surplus

0

Local

demand

0.1

Produc

tion

Source: Wood Mackenzie; Pertamina Team Analysis

Cirebon

Semarang

Cilegon Jakarta

ONWJ

Muriah

TubanBrantas

Sampang

Madura offshoreMadura Strait

Kangean(Tiung Biru/Jambaran, Cepu, Gundih)

(Haurgeulis, Pamanukan, Jatibarang)

(Pangkah, W Madura, Ketapang, Poleng)

SSWJ

Surabaya

Gresik

Mmscfd

Wortel

Demand1

Localproduction

SSWJ imports2

Shortfall

Infrastructure needed

Cepu

Gas production

Planned location for LNG regasterminal

Proposed pipeline

Existing pipeline

East JavaCentral JavaWest Java

2012 20202015 2012 20202015 2012 20202015

1800 23502050

600 400600

700-900

500-600

700-980

300-500 1350-1450470-750

200 250220

150 150200

0 00

50 10020

670700-800

650-750

850 700600

0 00

N/A 0-10050-150

Shortfall after FSRU

0-50 20-300 400-500 - - - - - -

JAVA GAS SUPPLY-DEMAND

4

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Mahakam PSC Demand

LNG SUPPLY

MTPA

Contract Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

ACQ in MT 1.50 1.25 1.25 1.25 1.00 1.00 1.00 1.00 1.00 0.75 0.75

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Additional Supply? Mahakam PSC Demand

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Domestic Supply? US LNG Additional Supply? Demand

1 MTPA Additional Supply 1 MTPA US LNG Additional Supply

Domestic Supply to fulfil 3 MTPA

5

LOCATION: 5o 58’ 28,920” LS dan 106o 47’ 57,96” BT

RADIUS : 2 KM , WATER DEPTH: 22 – 23 M PIPING LENGTH FROM SHORE: 15 KM

Power Plant Capacity Gas Req. Gas Supply Balance

MW mmscfd mmscfd mmscfd Muara Karang :

- Existing- Repowering

508720

290 110 -180

Tanjung Priok :- Existing- Repowering

1,180750

300 10 -290

TOTAL 590 120 -470

Gas demand in this area for PLN’s powerplants on Tanjung Priok and Muara Karangbrings to around 400 mmscfd (~3 MTPA) ofadditional gas supply need.

To fulfill this requirement, HoA between NRand PLN has been signed on 12 October2010

FSRU

LOCATION

PLN MUARA KARANGN

WEST JAVA FSRT PROJECT

LOKASI FSRT DI TELUK JAKARTA

6

FAST TRACK FSRT PROJECT

• Aquarius Vessel

• Indonesian Owner

and Flag

Rekayasa Indsutri

LOKASI FSRT DI TELUK JAKARTA

7

Source: Golar LNG Energy

FSRU KEY TERM

Source: Golar LNG Energy

8

PROGRESS UPDATE

FSRU Conversion Progress

December 2011: 88.29%

9

PROGRESS UPDATE Subsea Pipeline-ORF Progress

December 2011: 86.41%

10

• LNG supply for domestic gas consumption could be realized by operation

of West Java FSRT.

• This project as the 1st Indonesian floating LNG receiving terminal is a

milestone on gas infrastructure, and is expected to be commissioned in the

1st quarter or early 2nd quarter 2012.

• Fast track project has caused the project becomes very challenging.

• Additional LNG supply to fulfill FSRU capacity will be beneficial to West

Java’s gas consumers.

CLOSING REMARK

THANK YOU