A floating liquefactionproject in Australia

Bonaparte LNG

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Table contents

IntroductionBonaparte LNG

The project detailsThe Asia-Pacific region

GDF SUEZ E&P and LNG

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Project Vision

An exemplarypartnershipto deliver a

floating LNGproject withthe higheststandards

GDF SUEZ Bonaparte, subsidiary of GDF SUEZ, one of the world’sleading energy companies, is focusing its efforts on the appraisal anddevelopment of three remote offshore natural gas fields in Australia. The valuation of these stranded fields, 170 km from shore, requests theapplication of a new and innovative concept: a liquefied natural gas(LNG) floating, production, storage and offloading (FPSO) unit. To bringthis project - known as Bonaparte LNG - to fruition, GDF SUEZ will drawon its 50 years of LNG experience and on its partnership with Santos, a major Australian energy company with a strong local presence andknowledge.

Bonaparte LNG exemplifies the synergies between GDF SUEZ’ variousactivities, encompassing its search for gas, the commissioning of newfacilities and the transportation and marketing of gas to market by LNGcarrier. Bonaparte LNG integrates GDF SUEZ’ global LNG strategy- a presence in the Asia-Pacific aimed at meeting the region’s surgingdemand for energy.

Bonaparte LNG also gives GDF SUEZ its first foothold in Australia’shighly prospective petroleum province off the North-West coast andconfirms its Exploration & Production (E&P) ambitions while consolidatingits position as a global leader in the LNG business.

GDF SUEZ’ primary objectives are to satisfy the growing global demandfor natural gas in the long-term, while diversifying and securing thecompany’s supply sources; Bonaparte LNG meets those objectives.

Jean-François LetellierGeneral ManagerGDF SUEZ Bonaparte

GDF SUEZ is gaining a foothold in the gas marketsof the Asia-Pacific region

LNG transportationto natural gas markets

(1) GDF SUEZ participation (220 million Boe = 32.4 Gm3)

© GDF SUEZ Global Gas & LNG - Non contractual picture

Treatment and natural gasliquefaction and LNG storage

Natural gas from Tern field

Natural gas from Petrel field

Natural gas fromFrigate field

220million Boe gas resources (1)

2million tons LNG per year

250kilometersfrom Darwin

GDF SUEZ. Bonaparte LNG.4

The first GDF SUEZintegrated E&P-LNG projectin partnership with Santos

The partnership signed in August 2009 between GDF SUEZ and Santos, a major Australian oil and gas exploration and production company, pavesthe way for both groups to produce LNG from currently unexploited offshorenatural gas fields. When in production, Bonaparte LNG will give GDF SUEZa strong position from which to develop its interests in the region.

Bonaparte LNG is a 60/40 joint venture between GDF SUEZ and Santos,which will be operated by GDF SUEZ Bonaparte Pty Ltd. The joint venturebrings together Santos’ regional upstream knowledge and GDF SUEZ’globally renowned expertise in LNG and E&P. The joint venture’s mission is to commercialise the natural gas from three remote offshore fields in the north-west of Australia using the partners’ combined know-how andcompetitive advantage, from gas field development and LNG sales throughto construction of innovative infrastructure.

Philip OlivierSenior Vice-PresidentGDF SUEZ LNG

How would you define the importanceof the Bonaparte LNG project?

The Bonaparte LNG project represents a groundbreaking stage in GDF SUEZ’development in the upstream sector,treading new ground in a number ofareas. The company will be the operatorof one of the first floating natural gasliquefaction plant. Furthermore, the plantwill be based on a new technology.Thanks to the innovative design of thefloating liquefaction unit, we will be ableto tap into remote medium-sized gasfields, the development of which, untilnow, has been sidelined as uneconomic.

John AndersonVice-President Western Australia& Northern Territory,Santos

What attracted Santos to GDF SUEZas a partner for Bonaparte LNG?

Quite simply, we were looking for anindustry leader, an energy company with the experience, expertise andmuscle to drive the development of the Petrel, Tern and Frigate natural gasfields. We wanted a partner with a long and proud history in the LNGbusiness, one with the technical capacityto develop an innovative floating liquefaction solution to these strandedreserves, and in GDF SUEZ we have found the perfect fit. It’s a terrificpartnership between a global energy leader and an Australian energycompany with a strong local knowledge and plenty of upstream know-how.

What does Bonaparte LNG mean to Santos?

Santos has been a major producer of gas for the Australian domestic marketfor many years but only moved into the export market relatively recently, as a partner in Darwin LNG. We are now involved in four LNG projectsincluding Bonaparte LNG, which is attractive to us for a number of reasons.Not only will it commercialise gas that’s been known for about 40 years butconsidered too remote to be economic, Bonaparte LNG is set to becomeone of the world’s pioneering floating liquefaction projects. It’s very excitingto be part of an innovative solution to gas development which has thepotential to open up many other stranded fields.

GDF SUEZ. Bonaparte LNG. 5

This project allows GDF SUEZ to capitalise on design andengineering work that the companyhas already undertaken withfloating LNG terminals, both in terms of liquefaction and re-gasification, and it also enablesGDF SUEZ to leverage its in-houseresearch and development centre as well as its internationalpartnerships.

What will the advantages be?

This integrated project will be our gateway to delivering theentire LNG production chain and expanding our LNG supplyportfolio, which already includesLatin America, Europe, Africa andthe Middle East. When it comesto managing LNG, having ourown production will give usgreater flexibility. Bonaparte LNG’sgeographical location representsan excellent platform for anchoringour strategy of making inroadsinto Asia, one of the key marketsfor the company’s development.

Didier HolleauxSenior Vice-PresidentGDF SUEZ Exploration & Production

How did the Bonaparte LNG projectcome about?

The Bonaparte LNG project representsthe first tangible steps in a concept thatGDF SUEZ has been working on for manyyears, namely, a floating natural gasliquefaction plant as a profitable way ofdeveloping stranded gas fields. All the majorinternational gas companies are activelyworking on the concept and joining forceson certain issues, such as facility safetyand minimising environmental impact.GDF SUEZ has had this type of unit onthe drawing board since 2007, whileactively searching for potential sites. Ourstrategy dovetailed with that of Australianenergy company, Santos, and the qualityof the partnership that we are developingwith them will ensure the best possible

conditions for bringing this projectto life. Importantly, Bonaparte LNGgives GDF SUEZ its first footholdin the Australian E&P market.

What is the project’s current status?

Bonaparte LNG is in the pre-FrontEnd Engineering and Designphase for both the upstream and midstream components of the project. Midstream refers to the LNG FPSO including hulland topsides, and upstream refersto the gathering system, includingwells, flowlines, subsea equipmentand potentially a wellhead/pre-treatment platform. And we havenow opened an office in Perth, in Western Australia, since early2010. Bonaparte LNG is aparticularly ambitious project andrepresents a challenge at both a technical and humanlevel, but the team is not short on enthusiasm.

DARWIN

PERTH

Darwin LNG

North West Shelf

Sunrise

Pilbara LNG

Browse

Queenstand Curtis LNG

Arrow Energy LNG

GLNG

Pluto

Ichthys

Wheatstone

Australia Pacific LNG

Bonaparte LNG

Gorgon

Prelude

DARWIN

PERTH

Darwin LNGBonaparte LNG

North West Shelf

Sunrise

Pilbara LNG

Browse

Queenstand Curtis LNG

Shell Australia LNG

GLNG

Pluto

Ichthys

Wheatstone

Australia Pacific LNG

Gorgon

Prelude

LNG importer country

LNG producer country

The Bonaparte Basin, onprospective gas regions

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Floating LNG in the Bonaparte Basin, AustraliaGDF SUEZ: A strategic partnership to strengthen its presence across the entire LNG chain in the As

Existing Potential marketing routes

Planned Under construction

ne of the most in Australia

GDF SUEZ. Bonaparte LNG. 7

sia-Pacific region.© GDF SUEZ 2010

GDF SUEZ. Bonaparte LNG.8

40 years ofexpertise in E&P

A global LNGleader

GDF SUEZ group has more than 40 years of experience asan onshore oil and gas E&P operator, and 30 years working inoffshore environmentally sensitive areas including the NorthSea and Barents Sea.

GDF SUEZ E&P is a significant contributor to GDF SUEZgroup through the supply of natural gas and has positionedthe Group as a major player in the oil and gas industry.Although primarily focused on expansion in Europe andNorth Africa, the Group has seized on opportunities todiversify its portfolio and develop its know-how by buildinga presence in other regions of the globe.

Through its affiliates, GDF SUEZ E&P has developed the skillsand knowledge to work on technically challenging prospectslike tight gas fields. It has demonstrated that capacity as anoperator, in exploration and production, in on - and offshoredrilling and HP/HT (High Pressure / High Temperature) drilling.A command of these skills ensures the Group’s presencein various projects around the world (either as operator orjoint venture partner), helps build the Group’s reserves andreinforces its recognition as a major player in the industry.

As at December 31 2010, the Group holds 362 licences across16 countries, 206 of which (57%) are operated. Since 2001,in its capacity as an operator, the Group has drilled 125 wells(not including the gas storage wells and salt cavities).

GDF SUEZ is one of the leading LNG players in the world, the main LNG importer in Europe* (3rd in the world*) and the leader in the Atlantic Basin.

GDF SUEZ LNG safely, reliably and economically suppliesthe various entities of GDF SUEZ group with LNG, as partof the Group’s global gas supply portfolio. GDF SUEZ LNGalso manages all the Group’s LNG supplies and vesselchartering contracts. GDF SUEZ LNG creates additionalvalue through business development (new internal and externalmarkets, new supplies, new investments in liquefaction plantsand regasification terminals) and through physical andfinancial optimization of the Group’s LNG portfolio.

The Group has a large and diversified portfolio of LNG suppliesfrom six different countries (Algeria, Egypt, Nigeria, Norway,Trinidad & Tobago and Yemen), representing 16.5 MTPA.GDF SUEZ operates a fleet of 18 LNG carriers which includes2 Shuttle Regasification Vessels. In order to meet its maritimetransport needs, GDF SUEZ manages its fleet of LNG tankersthat it adapts in size to meet its long-term commitmentsand its one-off opportunities. The chartering terms varyfrom a few days to as much as twenty years. The Group hasa significant presence in regasification terminals in Europe,Asia, North America and South America. GDF SUEZ LNGaims to strengthen its position as a global leader in LNGby developing its presence in high growth premium marketsespecially in the Asia-Pacific region.

* GIIGNL data 2009 (International Group of LNG Importers)

All figures provided are stated as of December 31, 2010. They include 100%of the capacity of assets regardless of GDF SUEZ’ actual equity interest.

This brochure is printed on 100% recyclable and biodegradable coated paper, manufactured from ECF (Elemental Chlorine Free) bleached pulp in a European factory certified ISO 9001 (for its quality management), ISO 14001 (for its environmental management),CoC PEFC (for the use of paper from sustainably managed forests) and is EMAS-accredited (for its environmental performance).

It is available in French and English on the gdfsuez.com website, where all Group publications can be downloaded.

Photo credits: GDF SUEZ Global Gas & LNG, Gilles CRAMPES, X. © 04/2011.

Publisher: GDF SUEZ Global Gas & GNLDesign and production: Agence Marc Praquin

PEFC/10-31-2043

gdfsuez.com

GDF SUEZ BonaparteLevel 28, 221 St Georges Terrace Perth WA 6000 AustraliaTel.: +61 8 9333 9670

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