Excelerate Energy:

Efficient And Cost-Effective Solutions

for the Global Gas Market

14 January 2014
Copyright Excelerate Energy L.P.
 Who We Are:
Pioneer and world leader in innovative
LNG midstream solutions.
• Commercial control of approx. $3 billion in assets
• Developer of floating liquefaction and regasification
LNG solutions
• Active LNG trading and chartering functions
• Eight floating storage and regasification units (FSRUs),
one LNGC, and one FSRU under construction
• 100% owned and controlled by George B. Kaiser
• Comprehensive experience from design through
operations
• Real-world operational knowledge applied to
all project phases

Copyright Excelerate Energy L.P. 2

Largest fleet of FSRUs in the industry.

VESSEL DELIVERY DATE CLASS CAPACITY PEAK SENDOUT • Our large fleet offers redundancy,
security of service and
Excalibur October 2002 LNGC 138,000 m3 –
opportunities for bridging solutions
Excelsior January 2005 Excelsior 138,000 m3 690 MMcf/day

Excellence May 2005 Excelsior 138,000 m3 690 MMcf/day

• All FSRUs are purpose-built
Excelerate October 2006 Excelsior 138,000 m3 690 MMcf/day

Explorer March 2008 Explorer 150,900 m3 690 MMcf/day

• In addition to the existing fleet,
Express May 2009 Explorer 150,900 m3 690 MMcf/day Excelerate Energy has secured
Exquisite October 2009 Explorer 150,900 m3 690 MMcf/day
shipyard slot options.

Expedient April 2010 Explorer 150,900 m3 690 MMcf/day

Exemplar September 2010 Explorer 150,900 m3 690 MMcf/day • Access to conventional, offshore
and dockside regas terminals
Hull No. 2402 May 2014 Experience 173,400 m3 800 MMcf/day

Copyright Excelerate Energy L.P. 3

STS Transfer of LNG
• Industry leader
• Most LNG STS experience in the industry
• Developed the procedures that are now
the guidelines for the industry
STS - Summary as of: 01/10/14

Operation Count Total (CuM)

Open Water 15 1,624,521
Gas In / Cool Down 3 25,572
In Port
Double Banking 304 29,069,973
Tandem - Along Dock 142 18,791,668
Across Dock 74 7,787,216
Total 538 57,298,950

Operator Count Total (CuM)

EE Vessels 79 7,981,615
3rd Party Vessels 459 49,317,335
Total 538 57,298,950

Copyright Excelerate Energy L.P. 4

LNG Trading & Marketing
• Commercially-minded fleet operations EXCELERATE TRADING AND CHARTERING ACTIVITY*
• Established trading team with global 4.0

relationships 3.5
− 70+ Master Sales & Purchase Agreements with
key market participants 3.0

− Offices in Houston, London, and Singapore with 2.5

a combined 50+ years of direct LNG marketing
and trading expertise

MMt
2.0

− In-house market fundamentals and financial

trading capabilities 1.5

− Established contractual framework for long term 1.0

FOB and Tolling Structures

• Commercial experience across the LNG
0.5

value chain 0.0

2005 2006 2007 2008 2009 2010 2011 2012

* EE has traded 5.6 million tonnes of LNG and completed 66 charters

Copyright Excelerate Energy L.P. 5

Financial Strength
• Excelerate Energy has access to substantial capital and support —
making development opportunities possible for the company.
• Excelerate Energy has commercial control of $3 billion in assets
• George B. Kaiser 100% Shareholder
− Chairman of Bank of Oklahoma Financial
− Principal owner of Kaiser-Francis Oil - one of the largest private energy producers in
the United States
− Active in the oil and gas sector, including upstream exploration, gas marketing,
oil field services, contract drilling and commodity trading.
− Net worth $10 Billion
− #40 in Forbes 400 Wealthiest Americans (2013)

Copyright Excelerate Energy L.P. 6

 FSRU Advantages
COST EFFECTIVE
• A floating regasification
solution is more cost effective
per MMbtu than a traditional
land-based solution
TIME EFFICIENT
• A floating solution can be
implemented in 1-3 years vs.
land-based in 4-6 years
Copyright Excelerate Energy L.P.
MINIMAL FOOTPRINT
• Requires less land use
EXCELERATE’S FSRU EXPERIENCE
• Reduced design time
• Quick identification of
long-lead items
• Rapid identification of project risks
• Accurate cost estimates
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 Teesside GasPort®
UK — 2007

Northeast Gateway
Deepwater Port®
USA — 2008 Hadera Gateway
Lavaca Bay LNG Israel— 2012 Mina Al-Ahmadi GasPort®
USA — 2018 Kuwait — 2009 - 2013
Aguirre Offshore GasPort®
Gulf Gateway® Puerto Rico — 2015
USA — 2005

VT3
Proven Experience
Brazil — 2014 With more than 10 years of integrated technical,
GNL Escobar Bridging Solution, 2012 business development, project execution, and
Argentina — 2011 operation experience, we are unrivaled in our ability
to respond quickly to our partners’ needs.
Bahía Blanca GasPort®
Argentina — 2008

Operational Under Development Decommissioned

Copyright Excelerate Energy L.P. 8

Gulf Gateway®
START UP: DECOMMISSIONED: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:

2005 2012 USA EPC, Commissioning, FSRU, Buoy Excelerate 500 mmscf/d
Operator

Copyright Excelerate Energy L.P. 9

Teesside GasPort®
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:

2007 UK EPC, Commissioning, Operator FSRU, HP Gas Arm, Excelerate 400 mmscf/d
Nitrogen Blending

Copyright Excelerate Energy L.P. 10

Northeast Gateway ®
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:

2008 USA EPC, Commissioning, Operator FSRU, Buoy Excelerate 600 mmscf/d

Copyright Excelerate Energy L.P. 11

Bahía Blanca GasPort®
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:

2008 Argentina Integrated Project Team, Commissioning FSRU, HP Gas Arm Repsol-YPF 500 mmscf/d
Operator Training Control System

Copyright Excelerate Energy L.P. 12

Mina Al-Ahmadi GasPort®
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:

2009 Kuwait EPC, Commissioning, FSRU, HP Gas Arm, Control System, Kuwait National Petroleum 500 mmscf/d
1st Year Operations Cryogenic Transfer System Company (KNPC)

Copyright Excelerate Energy L.P. 13

GNL Escobar
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:

2011 Argentina Strategic Partner, Commissioning, Operator FSRU, HP Gas Arm JV Repsol-YPF 500 mmscf/d
Training Control System

Copyright Excelerate Energy L.P. 14

Hadera Gateway
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:

2012 Israel Consulting Services FSRU, STL Buoy Israel Electric Corporation Israel 500 mmscf/d
Natural Gas Lines

Copyright Excelerate Energy L.P. 15

VT3 − Guanabara Bay
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:

2014 Brazil Strategic Partner, FSRU Construction , 173K FSRU Petrobras 800 mmscf/d
Commissioning. Provided bridging FSRU in 2012

Copyright Excelerate Energy L.P. 16

Aguirre Offshore GasPort®
START UP: COUNTRY: PROJECT ROLE: KEY TECHNOLOGY: COUNTERPARTY: BASELOAD CAPACITY:

2015 Puerto Rico Owner & Permitting, EPC with Cost HP Gas Arm, Control & Transfer Puerto Rico Power 400 mmscf/d
Pass-Through, Commissioning Systems, Sea Island Infrastructure Authority (PREPA)

Copyright Excelerate Energy L.P. 17

 “World’s First GasPort”
FEBRUARY 2007
Teesside GasPort Completed

“First LNG Facility on the US East Coast in 30

MAY 2008
Years” Northeast Gateway Commissioned

History of Innovation JUNE 2008 “South America’s First LNG Import Facility”
Bahía Blanca GasPort Commissioned
At Excelerate Energy, we think of ourselves as a work in
progress, constantly evolving to meet the changing needs
“World’s First At-the-Dock LNG STS Transfer”
of our customers and the markets we serve. JUNE 2008
Bahía Blanca GasPort

“Middle East’s First LNG Importation Facility”

AUGUST 2009
Mina Al Ahmadi GasPort Commissioned

“100th Ship-to-Ship Transfer of LNG” Over

JULY 2003 Excelerate Energy Formed APRIL 2011
12,600,000 m3 of LNG transferred

JANUARY 2005 “Argentina’s Second LNG Importation Facility”

“World’s First Regas Vessel” Excelsior Delivered JUNE 2011
Escobar GasPort Commissioned

JANUARY 2005 Excelerate Energy First Cargo Delivered AUGUST 2011 “World’s Largest FSRU” VT3*Contract Executed

“World’s First Deepwater LNG Port” “Israel’s First LNG Importation Facility”
MARCH 2005 JANUARY 2013
Gulf Gateway Commissioned Hadera Gateway Commissioned

“World’s First Commercial LNG

FEBRUARY 2007 SEPTEMBER 2013 500th STS Transfer of LNG
Ship-to-Ship Transfer”

Copyright Excelerate Energy L.P. 18

Floating Liquefaction Taking Root
Alaska

British Columbia
+ Black Sea
Cyprus Israel
U.S. GOM +
+
Colombia Malaysia
West Africa

Brazil East Africa Australia

+ Indonesia +

Floating Liquefaction Opportunities Under Consideration + > 1 Project being prosed

3 Floating Liquefaction Terminals Sanctioned

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Copyright Excelerate Energy L.P. 19
 FLSO Advantages
VALUE DRIVEN
• Lower capital cost and shorter
time to market than
comparable land-based
alternatives
• Early gas and/or
LNG monetization
• 45 months FID to
commercial operations
• Greater cost control with
construction in a controlled
shipyard environment
Copyright Excelerate Energy L.P.
MINIMAL FOOTPRINT
• Minimization of fixed
infrastructure and overall
environmental impacts
DESIGN FLEXIBILITY
• Beneficial for conventional
or stranded reserves
• Modular design
• Mobility allows movement
between multiple reserves
over a project’s life
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FLSO™
Floating Liquefaction Storage Offloading Vessel
2010 Generic FEED
• Concept Study Phase – 2007/2008 - 3 MTA FLSO –
Topside View
− Studies undertaken to test the viability of concept
• Pre FEED Phase – 2008/2009
− Range of gas compositions studied by Black & Veatch
− Costs for various throughput capacities developed
• Specification / Indicative Pricing Phase – 2009
− Developed hull and topside specifications
− Solicited 4 Korean shipyards for indicative pricing
• 3 MTPA Generic FEED Phase – 2010
− Managed FEED contracts with Samsung and B&V
− Over 90,000 manhours/850 engineering deliverables 2010 Generic FEED
- 3 MTA FLSO –
• 4 MTPA Project Specific FEED Phase – 2012/13 Side-by-Side

− Conducted site specific FEED for Lavaca Bay

− Over 85,000 manhours / 975 engineering deliverables
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Copyright Excelerate Energy L.P. 21
Design Alternatives
• Design alternatives evaluated during
pre-FEED include:
− Range of Liquefaction Technology
− SPB Cargo Containment vs. Membrane
− Range of liquefaction capacity 0.6 to 3.0 mtpa
− Range of LNG storage tank capacity
from 125K to 250K m³
− Conversion of an existing vessel vs. new construction
− Gas turbine power vs. diesel power
− Mooring and offloading options

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Copyright Excelerate Energy L.P. 22
Generic Approach
Floating Liquefaction Storage Offloading
(FLSO) vessel with 3 MTPA of LNG production
and 250,000 m³ of LNG storage capacity
capable of working offshore and near shore
Copyright Excelerate Energy L.P.
• Fits into a standard shipyard slot
• Black & Veatch’s PRICO® process, using three 1.0 MTPA trains
– Small footprint, simple design and ease of operation
• GTT’s Mark III membrane containment system
– 2 row X 5 tank configuration with centerline cofferdam
• Mooring options:
– Turret system, “Sea-Island” configuration, and Dockside
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 Flare

The FLSO
3 MTA / 250,000 m3 Excelerate FLSO Liquefaction Modules (3 x 1.0 MTA)

Boil-off Gas Module

Pre-treatment Gas-Processing

LNG Loading Arms

Power Generation
and Controls
Final Dehydration
and Fraction Module Accommodations

Helipad
Switchgear Room

Offshore / Near Shore / At-shore Workshop

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Copyright Excelerate Energy L.P. 24
Lavaca Bay LNG Project

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Copyright Excelerate Energy L.P. 25
On-Shore Infrastructure

• Separation and compression • On-shore utilities

• Feed gas pre-treatment • Waste water treatment
(H2O, CO2, Hg, H2S removal)
• Condensate storage – truck loading

Copyright Excelerate Energy L.P. 26

FLSO versus Onshore Liquefaction
NORTH AMERICA PROPOSED LIQUEFACTION PROJECTS
$1,400

$1,200 Lavaca Bay provides a very

economical North American
$1,000 LNG supply for offtakers.

$800

$600

$400

$200

$0
BC LNG (0.9 EE Lavaca (4.4 Magnolia LNG (4 Sabine Pass Corpus Christi Sabine Pass Cameron (12 Freeport LNG Cove Point (5 Goldboro LNG Kitimat Phase 1
MMt/y) MMt/y) MMt/y) Phase 2 (9 (16 MMt/y) Phase 1 (9 MMt/y) (13.2 MMt/y) MMt/y) (10 MMt/y) (5 MMt/y)
MMt/y) MMt/y)

Comparison of cost/ton per year across several liquefaction projects in North America
Source: Excelerate Energy
(excluding costs associated with financing)

Copyright Excelerate Energy L.P. 27

Key Project Components
• Tolling Facility
• 29-Mile Pipeline Header with up
to 9 interconnects
• On-shore facility including
power generation
• 1 - 2 FLSO units capable of producing
an excess of 8 MTPA (nameplate) of
LNG for export
• 26-Mile Matagorda Ship Channel
Improvement

Copyright Excelerate Energy L.P. 28

Positive Progress
• Received Approval to Proceed with FEED – May 2012
• Received DOE Export License for 10 MTPA to FTA Countries – 9 August 2012
• Export License for 10 MTPA to Non-FTA Countries applied – 5 October 2012
• Carried out Initial Consultation Meeting with FERC – 17 October 2012
• Applied to FERC to initiate Pre-Filing process – 5 November 2012
• Received FERC approval to start Pre-Filing process – 20 November 2012
• Completion of FEED effort – 7 February 2013
• Completion of FERC Pre-Filing process – January 2014*
• Completion of FERC NEPA process – Q4 2014*
• FID – Q4 2014*
• Start Up – Q4 2018*
*Project goals

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Copyright Excelerate Energy L.P. 29
FLSO FEED
• Dock-side application required revisions to the base 3.0 MTPA design
• Design changes include:
− Removal of gas processing modules to shoreside location
− Removal of FW/SW heat exchangers from FLSO to shoreside location
− Addition of fourth 1.0 MTPA liquefaction train
− Modification of final dehydration and fractionation modules onboard
− Removal of thrusters
− Conversion of condensate storage tank and turret space into voids
− Revisions to material handling plan incorporating shoreside crane capabilities
− Addition of enhanced shoreside mooring capabilities to withstand 100-year return storm conditions

Copyright Excelerate Energy L.P. 30

4.4 MTPA FLSO – Dockside Application
Power and Utilities
Gas processing on-shore

Liquefaction Modules

LNG Transfer

BOG Management

Copyright Excelerate Energy L.P. 31

FLSO Particulars
Liquefaction Capacity: 4.4 MTPA
Storage Capacity:
250,000 m3
LNG Storage
Feed Gas Requirement (FLSO & pre-treatment)*: ≈ 730 mmscfd
Total Gas Consumed (FLSO & pre-treatment)*: 11.82% of Feed Gas
Dimensions:
Length Overall 338.0 m
Breadth 62.0 m
Depth 33.4 m
Design Draft 15.0 m
Weight:
Full Load Displacement 281,992 T
Deadweight 170,979 T
Accommodations: 100 Persons
Estimated Crew Size 70 to 75 Persons
* Feed Gas Requirement includes Fuel Gas for Power Generation, and is dependent on composition of feed gas. Does not include fuel gas for compression (estimated at 0.5% of feed gas
requirement)

Copyright Excelerate Energy L.P. 32

Site Selection
• “Greenfield” site located on the Southern
peninsula near the Port of Port Lavaca – Point
Comfort, Texas
• Advantages to this site:
− Project friendly area – industrial site near ALCOA and
Formosa Plastics facilities
− ≈5 bcf of pipeline capacity nearby
− Previously permitted by the Federal Energy
Regulatory Commission (FERC)
− Commercially attractive site with expansion potential
for a second unit

Copyright Excelerate Energy L.P. 33

Site Location
Planned
Liquefaction Site

Copyright Excelerate Energy L.P. 34

Lease and Permitting
• Lease agreement
− Secured lease with the Calhoun Port Authority for approximately 110 acres in January 2012
• FERC – Section 3 (Terminal) and Section 7 (Pipeline Header System)
− Filing to include up to two(2) 4.4 MTPA FLSO units
− Commenced pre-filing process in November 2012
− Expected to file in January 2014
− Expected to receive final Authorization to Proceed Q4 2014
• Dredging
− Matagorda Ship Channel will need to be deepened and widened to accommodate LNGCs calling on the facility
− Using existing United States Army Corps of Engineers (USACE) permit allowing channel to be deepened to 45 feet
and widened to 350 feet
− Applying for assumption of maintenance by the USACE for the Matagorda Ship Channel prior to construction
− Pursuing a new permit to accommodate dredging of the FLSO berthing areas

Copyright Excelerate Energy L.P. 35

Status of Non-FTA Export License Applications
ORDER COMPANY VOLUME (BCF/D) DOE FILED FERC PRE-FILING COMMENCED
1 Sabine Pass Liquefaction, LLC* 2.2 11-Aug-10
2 Freeport LNG Expansion, L.P. and FLNG Liquefaction, LLC* 1.4 17-Dec-10 5-Jan-11
3 Lake Charles Exports, LLC* 2 6-May-11 6-Apr-12
4 Dominion Cove Point LNG, LP* 1 3-Oct-11 26-Jun-12
5 Freeport LNG Expansion, L.P. and FLNG Liquefaction, LLC* 1.4 19-Dec-11 5-Jan-12
6 Cameron LNG, LLC 1.7 21-Dec-11 9-May-12
7 Jordan Cove Energy Project, L.P. 1.2 23-Mar-12 6-Mar-12
8 LNG Development Company, LLC (d/b/a Oregon LNG) 1.25 16-Jul-11 16-Jul-12
9 Cheniere Marketing, LLC 2.1 31-Aug-12 22-Dec-11
10 Excelerate Liquefaction Solutions I, LLC 1.38 5-Oct-12 20-Nov-12
11 Carib Energy (USA) LLC 0.04 20-Oct-12
12 Gulf Coast LNG Export, LLC (Freeport 2) 2.8 10-Jan-12
13 Southern LNG Company, L.L.C. (Elba Island) 0.5 31-Aug-12
14 Gulf LNG Liquefaction Company, LLC (Pascagoula) 1.5 31-Aug-12
15 CE FLNG, LLC 1.07 21-Sep-12
16 Golden Pass Products LLC 2.6 26-Oct-12
17 Pangea LNG (North America) Holdings, LLC 1.09 19-Dec-12
* Received FTA and Non-FTA authorization to export
DOE will begin processing all long-term applications to export LNG to non-FTA countries in the following order:
1. All pending DOE applications where the applicant has received approval (either on or before December 5, 2012) rom the Federal Energy Regulatory Commission (FERC) to use the FERC pre-filing process, in the order the DOE application was received.
2. Pending DOE applications in which the applicant did not receive approval (either on or before December 5, 2012) from FERC to use the FERC pre-filing process, in the order the DOE application was received.
3. Future DOE applications, in the order the DOE applications are received.

Copyright Excelerate Energy L.P. 36

Availability of Pipeline Quality Gas
• Availability of pipeline quality gas is a
key driver of the project
• An extensive analysis of the pipeline
network was carried out
• 9 candidate pipelines have been
identified
• 29.2 mile, 42-inch pipeline header
system to be developed

Copyright Excelerate Energy L.P. 37

New and Innovative Ways
Copyright Excelerate Energy L.P. 38
 Commercial Benefits – FLSO/OPTI
COST
• Capex savings > $1 billion
($850-950/tonne)
• 25% increased throughput on
FLSO (4+ MTA)
• Improved gas processing on
Opti (motions)
EXPANSION
• Integration of Opti enables a
“Hub and Spoke” option
• Flexibility – Early pipeline to
shore plus FLSO(s)
• Enable offloading optimization
due to offshore environs
Copyright Excelerate Energy L.P.
SCHEDULE
• FLSO-45 mos. FID to
Commercial Operations
• Opti-36 mos. FID to
Commercial Operations
• Early gas and/or LNG
monetization
FINANCEABILITY
• Third party institutions are
attracted to financeability
• “Opti is fast, flexible, affordable,
and can be moved”
• Early cash flow to the Partners
and the State of Israel
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