SEAAOC, 19th September, 2012

Global gas market trends and opportunities for Australia Mike Sangster, Managing Director, TOTAL E&P Australia

Bontang

Yemen LNG Qatargas 2 Qatargas 1 Adgas Qalhat LNG Oman LNG

GLNG

TOTAL’s LNG portfolio – strong and diversified

Existing LNG plants

LNG projects under construction

LNG projects (FEED or under study)

Existing regasification terminals

Under construction regasification terminals

Ichthys

Snohvit Yamal

Angola LNG

Nigeria LNG T7 Brass LNG

Nigeria LNG T1-T6

Brass LNG Yamal LNG Ichthys GLNG Angola LNG

South Hook

Dunkerque LNG Fos Cavaou

Hazira Sabine Pass

Altamira

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TOTAL’s LNG sales destinations in 2011 (pro rata group share)

2011 flows

Asia61%

Continental Europe

21%

UK9%

Middle East1%

South America

2%

North America

6%

13,25Mt

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13.3Mt

All energy sources are needed to meet global demand

30%

24%

22%

6%

11%

3% 4%

33%

22%

26%

6% 10% 2% 1%

2010 2030(e)

100

300

Mboe/d

200

Hydro

Nuclear

Oil

Biomass

Solar, wind, others

Gas

Coal

4

Source: Total estimates

Fossil energies : 76% of the energy mix

Fossil energies : 81% of the energy mix

• Moderate growth of global energy demand (+25% in 20 years)

• Fossil fuels to represent 76% of energy supply in 2030

• Gas to become the second-largest energy source by 2030

• Strong growth but limited contribution of renewable energies

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Gas supply / demand Bcf/d

0

30

60

90

2010 2020 2010 2020 2010 2020

Gas demand Domestic supply

Pipeline imports Existing LNG contracts

+1.5% CAGR North America

+1.8% CAGR Europe

+6.2% CAGR Asia

5

+2.5% per year 2010-20 GAS DEMAND

Strong growth in global gas demand led by a booming Asian market

On the demand side, natural gas will secure its position in the electricity mix by being a cleaner, safe, flexible and competitive fuel.

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LNG, a growth market with increase in demand = +5% per year between 2010-2020

Strong LNG demand in both traditional and emerging markets

Asian market particularly strong

Complexity of LNG projects increasing tensions on supply

Tightening markets supportive of gas prices in Europe and Asia

Large capital requirements needed to match LNG demand

Global LNG supply / demand

Existing facilities Approved projects

Asian demand

Other demand

400

200

Mt/y

600

LNG supply LNG nominal capacities

2005 2010 2015(e) 2020(e) 2025(e) 2030(e)

~15

~50

~100

LNG supply based on other identified projects

6

Significant gas resources yet to be produced

Gas resources *

Conventional

Unconventional

~15 000 Tcf Unconventional

Conventional

North America 27%

Central & South America 5%

Africa & Middle East 25%

Europe 3%

Asia 17%

FSU 23%

*including yet to find

% Share of world resources

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0

200

400

600

200

400

kboe/d

15(e) 20(e) 10

600

0

100

200

300

400

200

400

kb/d

15(e) 20(e) 10

0

100

200

300

400

200

400

kboe/d

15(e) 20(e) 10

TOTAL E&P global strategy: focus on four key areas

Deep offshore

Largest operator in West Africa in 2012

Heavy oil

Top tier producer by 2020

Unconventional gas

Capitalize on expertise to open new plays

0

200

400

600

200

400

kboe/d

15(e) 20(e) 10

600

Targeting growth and technological segments

LNG

2nd largest player

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Ichthys & Gladstone LNG projects

Total 30%, INPEX 66.07% (operator) Production: 8.4 mtpa of LNG, 100 kb/d of condensates, 1.6 mtpa of LPG Long-term off-take contracts with oil linked price formula FID Jan 2012, start-up end-2016

Gladstone LNG plant

Ichthys

Darwin

Ichthys pipeline

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Total 27.5%, Santos 30% (operator), Petronas 27.5%, KOGAS 15% Production: 7.2 mtpa of LNG FID Jan 2011, start-up 2015

Total non-operated

DARWIN

ICHTHYS

Bonaparte

Browse

100 km Total operated

WA-402/403P Total 60 % (op.) Petronas 40%

WA-408 Total 100% (op.)

WA-285P (Ichthys) Total 30%

Inpex 66.07% (op.)

WA 341/343/344 Total 40%

Inpex 60% (op.)

7 offshore exploration permits in Australia

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Will Australia capitalise on next LNG wave?

Continued strong demand for LNG, especially in Asia, and Australia is ideally placed to provide supply TOTAL is pleased to be part of Australia’s LNG success We want to be part of the Australia’s LNG future High cost of doing business remains a concern, given there will be increased competition from other origins

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express written permission of the Total Group.

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SEAAOC, 19th September, 2012

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