Public Hearing – Meeting the Energy Demand

Emmanuel Haton - BP April 25th 2013

2

Current Situation European proved natural gas reserves at end-2011 (in Trillion Cubic Meters) – BP Statistical Review 2012

0.2

2.144.6

1.1

0.1

0.1

0.1

0.1

0.9

1.9

1.6

24.31.3

4.51.5 2.2

3

Current Situation

2 043 476 km of Pipelines

19 LNG terminals

124 Natural gas Storage Facilities

Source : EUROGAS 2011 Statistical report

4

Challenge

Growth

in coal

demand

in 2011

Global

CO2

emissions

Growth

2006-2011Source : IEA, Golden Age of gas, 2011, p 49

The US is now reducing CO₂

emissions faster than the

EU!

What is needed

Clarity over the post-2020 energy and climate policy (emissions reduction targets, future of the ETS) would provide the right incentives to investors

and the competitive pressure markets currently lack