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Europe Gas Marketing Change and Opportunity EuropeEurope GasGas MarketingMarketing ChangeChange andand OpportunityOpportunity R.R. A.A. LuxbacherLuxbacher DirectorDirector –– Europe Europe GasGas && PowerPower MarketingMarketing ExxonMobilExxonMobil InternationalInternational LimitedLimited 1 Cautionary Statement Forward-Looking Statements. Outlooks, projections, estimates, targets, and business plans in this presentation or the subsequent discussion period are forward-looking statements. Actual future results, including demand growth and mix; ExxonMobil’s own production growth and mix; the amount and mix of capital expenditures; resource additions and recoveries; finding and development costs; project plans, timing, costs, and capacities; revenue enhancements and cost efficiencies; industry margins; margin enhancements and integration benefits; and the impact of technology could differ materially due to a number of factors. These include changes in long-term oil or gas prices or other market conditions affecting the oil, gas, and petrochemical industries; reservoir performance; timely completion of development projects; war and other political or security disturbances; changes in law or government regulation; the outcome of commercial negotiations; the actions of competitors; unexpected technological developments; the occurrence and duration of economic recessions; unforeseen technical difficulties; and other factors discussed here and under the heading "Factors Affecting Future Results" in the Investor Information section of our website at www.exxonmobil.com .See also Item 1A of ExxonMobil’s 2005 Form 10-K. Forward-looking statements are based on management’s knowledge and reasonable expectations on the date hereof, and we assume no duty to update these statements as of any future date. Frequently Used Terms. References to resources, resource base, recoverable resources, and similar terms include quantities of oil and gas that are not yet classified as proved reserves but that we believe will likely be moved into the proved reserves category and produced in the future. The discussion of reserves in this presentation generally excludes the effects of year-end price/cost revisions and includes reserves attributable to equity companies and our Syncrude operations. For definitions of, and information regarding, reserves, return on average capital employed, normalized earnings, cash flow from operations and asset sales, and other terms used in this presentation, including information required by SEC Regulation G, see the "Frequently Used Terms" and the quarterly earnings press releases posted on the Investor Information section of our website. The Financial and Operating Review on our website also shows ExxonMobil's net interest in specific projects. 2 ExxonMobil Upstream in Europe 2005 Production* Oil-Equivalent Barrels (1000s / day) • Over 100 years in Europe Natural Gas 1400 Liquids • Largest producer amongst international oil companies 1200 1000 • $6.9 B earnings in 2005 – 19% of ExxonMobil’s total 800 600 • Over $9 B invested 2001 - 2005 400 200 0 XOM RDS BP *per 2005 annual reports 3 ExxonMobil Europe Gas Marketing Production & Sales Sales LNG Terminal • 6 BCFD gas sales Gas Marketing Office ~ 12% Western Europe market ~ 55% ExxonMobil world-wide • Gas infrastructure ownership ~ 8,000 miles of pipelines ~ 300 BCF storage volume – 12 gas processing plants – 2 LNG terminals under construction 4 Gas Outpaces Total Energy Growth Total Energy MBDOE 400 300 1.6%1.6% OtherOther 1.8%1.8% 200 CoalCoal 1.8%1.8% 100 GasGas OilOil 1.4%1.4% 0 80 90 00 10 20 30 5 Gas Demand Grows by 50% through 2030 Total Energy Gas MBDOE BCFD 400 500 400 300 150 300 200 200 1.8%1.8% 100 GasGas 100 0 0 80 90 00 10 20 30 80 90 00 10 20 30 6 Power Generation Drives Gas Growth Total Energy Gas By Sector MBDOE BCFD BCFD 400 500 160 1.8% 400 300 150 2.1%2.1% 300 PowerPower 200 GenerationGeneration 200 1.8%1.8% 1.6%1.6% Gas 100 Gas IndustrialIndustrial 100 1.6%1.6% Res/CommRes/Comm 0 0 0 80 90 00 10 20 30 80 90 00 10 20 30 05 10 15 20 25 30 7 Growing Requirement for New Supplies Global Gas Supply BCFD 500500 400400 New Supplies 90 60 Required ports 300300 g Im stin Exi 200200 Regional Production 100100 00 199090 200000 201010 2020 20 203030 8 Europe Requires Half of New Supplies Global Gas Supply New Supplies Required BCFD BCFD 140140 500500 120120 400400 90 60 100100 rts Impo 300300 ng 8080 isti 25 Ex Asia 6060 200200 45 4040 Regional Europe Production 100100 2020 US / Canada 20 00 00 199090 200000 201010 2020 20 203030 200005 200510 2010 15 201520 2020 25 2025 2030 30 9 LNG Growth Links Markets Globally BCFD 80 LNG Supply 60 40 20 LNG Movements 2030 0 2005 2015 2030 10 European Gas Market Development 19601980 1985 1998 2000 2005 Country UK Market Continental Centred Liberalisation Liberalisation Starts None Liquidity Full Building Markets British Gas privatised EU Gas Directives Vertical Integration Liquidity Developing Pipeline Regulation Long Term Contracts UK – Belgium Pipeline Uneven Pace 11 ExxonMobil Europe Gas Business Model … Equity Gas Focused • Sell all available equity production at highest net price • Actively manage gas pipeline, plant, terminal and storage assets – Invest when attractive to support equity sales – Integrate with Production, Chemical and Refining assets – Restructure / divest if attractive when ExxonMobil no longer needs to own • Use capability and knowledge to bring new equity gas to market Competitive Advantages Market Flawless Clear, Long-term Integration Knowledge Execution Focus 12 Maximise Gas Value … via Centralised ExxonMobil Marketing ExxonMobil NW Europe Sales Entities • In 2000, four wholly owned, five joint arrangements selling ExxonMobil gas NO – Appropriate for country centred market development – Differing shareholder approaches in joint arrangements ian ed M e Lin • As market liberalised, recognised early the value of: DE NL – Broader view of market UK – Integrating gas sales operations 2000 ExxonMobil Sales Joint Arrangements 13 Maximise Gas Value … via Centralised ExxonMobil Marketing ExxonMobil NW Europe Sales Entities • Created single 100% ExxonMobil entity – Terminated 4 joint arrangements NO – Centralised sales operations – First mover ExxonMobil • Increased opportunity identification Gas Marketing and capture Europe – Rapidly move gas across borders to achieve highest value NL – New sales options UK – Increased equity gas sales DE – More effective government engagement 2006 Joint Arrangements 14 Restructure / Divest … When Asset Ownership No Longer Needed Transactions $B Earnings • In liberalising market, equity gas sales may no longer require ownership in 2000 2 0.4 pipeline and storage assets 2001 - - • Early mover advantage to maximise value 2002 1 0.1 • 9 major UK, Netherlands, and German 2003 3 1.8 mid-stream gas assets restructured or divested 2000-2005 2004 2 0.1 2005 1 1.6 • ~$4 B earnings 15 Maximise Asset Value … via Integration Across Value Chain Gas Raw Gas Treating & Producing Processing Sales Gas Field Plant Natural Gas Liquids Production NGL Ethane Ethylene Ethylene Polyethylene Fractionation Production Production to Plastics Plant Plant Plant Other Natural To Plastics Gas Liquids Plant ExxonMobil assets throughout value chain 16 Maximise Asset Value … via Integration Across Value Chain BrentBrent PlatformPlatform Brent Production BRENT S e G in A l L e F ip P St. Fergus Processing Plant St.St. FergusFergus GasGas PlantPlant Brent Field Production Pipeline and plant assets commercialising UK North Sea gas 17 Maximise Asset Value … via Integration Across Value Chain Brent Production BRENT S e G in A l L e Brent Platform F ip P St. Fergus Processing Plant St. Fergus Gas Plant Brent Field Production MossmorranMossmorran FractionationFractionation andand FifeFife EthyleneEthylene PlantsPlants Mossmorran / Fife MeerhoutMeerhout Meerhout PolyethylenePolyethylene PlantPlant Ethane to Polyethylene Providing ethane feedstock to profitable polyethylene production 18 Maximise Asset Value … via Integration Across Value Chain Brent Production BRENT S e G in A l L e Brent Platform F ip P Mossmorran Norwegian St. Fergus Gas ProductionFractionation and Fife Ethylene Plants Processing Plant (Illustrative) Statfjord MossmorranField / Fife St. Fergus Gas Plant Brent Field Production Meerhout Meerhout Polyethylene Plant Ethane to Polyethylene Volume Late Life Project Brent Time Statfjord Statfjord Field Late Life Extension Project Opportunity to move new Statfjord gas to UK infrastructure 19 Maximise Asset Value … via Integration Across Value Chain Brent Production BRENT S e G in A l L e Brent Platform F ip Norwegian P Mossmorran Gas Production (Illustrative) Statfjord St. Fergus Fractionation and Field Processing Plant Fife Ethylene Plants Mossmorran / Fife St. Fergus Gas Plant Volume Volume Volume Brent Field Production Meerhout Meerhout Late Polyethylene Plant Life Project Brent Ethane to Polyethylene Time Statfjord Statfjord Field Late Life Extension Project Statfjord Brent Engagement / Consensus Building Built consensus with Norway, UK and partners on UK option 20 Maximise Asset Value … via Integration Across Value Chain Brent Production BRENT S e G in A l L e Brent Platform F ip Norwegian P Mossmorran Gas Production Statfjord Fractionation and (Illustrative) St. Fergus Field Processing Plant Fife Ethylene Plants Mossmorran / Fife St. Fergus Gas Plant Volume Volume Volume Brent Field Production Meerhout Meerhout Polyethylene Plant Late Life Project Brent Ethane to Polyethylene Time Statfjord Statfjord Field Late Life Extension Project Statfjord
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