1. a meaningful company
doing meaningful work
delivering meaningful results
Jim Cleary
President, El Paso Western Pipelines
Platts Conference, Rockies Gas & Oil
April 27, 2007

2. Outline
• Overview of Rockies Position in North American Market
• Rocky Mountain Production
• Pipeline Capacity and Constraints
• Current & Future Expansions, Capabilities and Timing
2

3. El Paso Western Pipelines
Big Horn
Powder River
Wind River
Green River
Denver-Julesburg
Uinta
Piceance
Anadarko
Raton
San Juan
Permian
WIC
CIG
EPNG
Mojave
Cheyenne Plains
3

4. Demand Growth Tilts East and North
5.4
5.5
Western 3.4 Bcf/d
6.6 Eastern
Canada
2.7 3.3
7.5 Canada
2.5 3.9
NW and Maritimes
2.7 4.3
2.2% 3.1%
Alaska and
2.9 Northeast U.S.
1.5% 2.6%
0.6% 9.1
1.5%
11.6 9.5
10.6 10.9
3.9 4.8 11.3 11.8
6.3 4.5 4.1 11.3
5.7 5.5 4.3 1.8% 2.2%
6.8 -0.1% 0.7%
5.9 4.5
7.2
2.8% 2.7% -0.4% 1.1%
8.7
0.9% 2.3%
9.0
11.4
N.A. Total 13.2
16.6
2000 76.2 13.3 2.8% 3.9%
2000
14.8
2005 72.9
3.8 2005
15.3
2010 84.0 5.0 2010
Mexico
2015 90.5 1.4%
-0.6%
5.8 2015
6.6
2005-2015
2000-2015
1.1% 2.2%
2.8%
3.7% CAGR
CAGR
Source: El Paso 4

5. Supply Growth Tilts West and South
Western
Bcf/d
Canada
Alaska Mackenzie
1.2 0.0 17.3
1.2 0.0 17.6
Eastern 0.3
1.2 0.0 17.5
Canada 0.5
1.2 1.0 16.9
0.4
0.2
Rockies
4.8
7.1 Mid-
9.9 Continent
10.6
Shale
5.2
Plays /
4.9
San Juan
Carthage
5.1
3.9
5.3
4.8
3.7
7.3
3.5 N.A. LNG
Permian 9.7
3.3 Imports
10.7
4.0
0.6
4.1
5.9 1.7
4.3
2000 3.5 4.4 7.3
Gulf of
4.3
2005 4.1 Mexico
4.1 13.6
2010 4.5 3.5 14.0
4.1
2015 9.3
Onshore Gulf
10.0
Mexico
9.1
Source: El Paso 5

6. Rocky Mountain Production
(Volumes are Wellhead – Measured in MMcfd)
12,000
Forecast
Big Horn Wind River
Green River Overthrust
10,000
Powder River Uinta 2.46 Bcf/d of
growth 2006-2015
Piceance Denver
8,000
6,000
4,000 Forecast by 2015:
High Case 12,873
Mid Case 10,773
2,000
Low Case 8,673
0
90
91
92
93
94
95
96
97
98
99
00
01
02
03
04
05
06
07
08
09
10
11
12
13
14
15
19
19
19
19
19
19
19
19
19
19
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
1990-2005: Wellhead total data from IHS database
2006: Estimate
6
2007-2015: El Paso forecast

7. Northern Rockies Export Capacity
with Recent Expansions*
Approximately 6.2 Bcf/d 265 East Capacity
Trailblazer 850
KMI 400
650 CIG* 330
C. Plains 730
Southern Star 180
WBI 265
3170**
West Total 2,755
Capacity
NWP North 650
NWP South 360
Kern 2,000 850
TransColorado 435 400
360
Total 3,445 180
330 730
2,000
435
* Excludes capacity from Raton
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** West/East X-Over Capacity includes REX West by 2007

8. Rockies Gas Balance
MMcf/d
Annual Average Wellhead Production Forecast
2001 2002 2003 2004 2005 2006E 2007 2008 2009 2010
Dry Production 5,136 5,615 5,961 6,378 6,773 7,168 7,601 7,964 8,261 8,502
Local
Consumption* 1,547 1,575 1,548 1,591 1,637 1,613 1,695 1,612 1,701 1,726
Available for
Export 3,589 4,040 4,413 4,787 5,136 5,556 5,906 6,352 6,560 6,776
Total Export
Capacity 3,633 3,869 4,738 5,397 6,030 6,200 6,200 8,000 8,000 8,000
Capacity Surplus 43 -171 325 611 894 644 294 1,648 1,440 1,224
% Surplus
Capacity 1.2% -4.4% 6.9% 11.3% 14.8% 10.4% 4.7% 20.6% 18.0% 15.3%
8

9. Cheyenne Basis to Henry Hub
versus Export Load Factors
Jan 1995 – Mar 2007
3.50
3.00
Historical Relationship
2.50
Load Factor ~84%
Dollars per MMBtu
HH Hub Basis ~ $0.71
2.00
1.50
1.00
0.50
0.00
60.0% 65.0% 70.0% 75.0% 80.0% 85.0% 90.0% 95.0% 100.0%
-0.50
9
Source: El Paso

10. Rockies Export Pipelines
Utilization Rates
Jan05-Mar07
120%
100%
% Utilization Rate
80%
60%
40%
20%
0%
May-05
May-06
Feb-05
Mar-05
Nov-05
Feb-06
Mar-06
Nov-06
Feb-07
Mar-07
Jan-05
Apr-05
Jun-05
Jul-05
Aug-05
Sep-05
Oct-05
Dec-05
Jan-06
Apr-06
Jun-06
Jul-06
Aug-06
Sep-06
Oct-06
Dec-06
Jan-07
Weighted Average of Rockies Pipelines to the East Weighted Average of Rockies Pipelines to the West
Weighted Average of All Rockies Pipelines
10

11. Northern Rockies Basins
East & West of Pipeline Divide
Pipeline Divide
Big Horn Powder
River
Wind River
Overthrust
Green
River
Denver Basin
Uinta
Piceance
Paradox
Anadarko
Raton
San Juan
Continental Divide
11

12. Rockies Supply vs.
Regional Export Capacity
MMcf/d
9,000 CP Midpoint
High Case
REX West
70 expansion
1800 expansion
8,000 Cheyenne Plains
170 expansion 100% LF
Cheyenne Plains
7,000 560 expansion
85% LF
6,000
5,000
Expansion needed:
4,000 2011 if 85% LF
Supply Available for Export 2015 if 100% LF
Base Case
3,000
2,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
12

13. El Paso Provides Infrastructure Solutions
Recent Rockies Expansions
Expansion Projects Capacity (Mdth) In Service
(Contracted Volumes)
Raton Basin
Raton Phase I 11 Dec 1994
Campo Lateral 81 Sep 1998
Raton Phase II 120 Sep 2001
Raton Phase III 45 Sep 2002
Raton Phase IV 110 Oct 2005
Power River
Medicine Bow 260 Dec 1999
Medicine Bow II 120 Aug 2000
Medicine Bow Loop 655 Dec 2001
Uinta Basin
Uinta Lateral 200 Dec 1992
Piceance Basin
Parachute Creek Lateral 37 Oct 1996
WIC Piceance 350 Apr 2006
Green River
WIC – Overthrust 300 Jan 2006
Rockies Export
Cheyenne Plains 560 Dec 2004
Cheyenne Plains Expansion 170 Jan 2006
Cheyenne Plains Yuma Lateral 50 Dec 2006
3,169
13

14. Western Pipelines
Expansion Projects Summary
Project Capacity Description Project Cost In-Service
WIC Kanda Lateral 400 MDth/d 128 miles of 24” $143 MM January 2008
20,600 Hp (Projected)
CP Midpoint Expansion 70 MDth/d 10,300 Hp $20 MM March 2008
(Projected)
CIG Raton Basin 2007 29 MDth/d 11 miles of 24”/20” $12 MM December 2007
Expansion (Projected)
CIG High Plains Pipeline / 900 MDth/d 164 miles of 30”/24” $296 MM December 2008 /
Totem Storage 7 Bcf 9,400 Hp July 2009
(Projected)
WIC Medicine Bow Expansion 350 MDth/d 24,300 Hp $32 MM July 2008
(Projected)
TOTAL 1,749 MDth/d $503 MM
14

15. Infrastructure Challenges
• Rising Steel Cost
• Increasing Construction Costs
• Permitting Constraints
• Environmental Stewardship
15

16. How will infrastructure get built?
Cost? Timely? Manpower?
$900
2006
$850
2005
$800
2004
$450
2003
$0 $200 $400 $600 $800 $1,000
Steel Plate Price per Net Ton
Source: Berg Steel Price (X-70 Plate)
16

17. WIC Piceance Lateral Construction
January 2006
17

18. WIC Piceance Lateral Construction
January 2006
18

19. Cheyenne Plains Construction
Summer 2005
19

20. Conclusion – Key Points
• Rockies Potential in North American Market
– Key growth area of domestic supply
– Surpasses GOM Offshore
• Rocky Mountain Production
– Increase of 2.5 Bcf/d by 2015
– Expect average YoY production growth to 2030
• Pipeline Capacity and Constraints
– Rockies Express 1.8 Bcf/d in service by 2008/2009
– Additional intra/inter Rockies capacity need by 2011-2012
– Expect significant basis impact until REX West in service in 2008
• Current and future expansions, capabilities and timing
– Key projects are on the horizon that will provide temporary relief; however,
continued Rockies production growth will require additional expansions
20

21. Cautionary Statement Regarding
Forward-looking Statements
This presentation includes forward-looking statements and projections, made in reliance on
the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The
company has made every reasonable effort to ensure that the information and assumptions
on which these statements and projections are based are current, reasonable, and complete.
However, a variety of factors could cause actual results to differ materially from the
projections, anticipated results or other expectations expressed in this presentation,
including, without limitation, our ability to successfully contract, build and operate the pipeline
projects described in this presentation; changes in supply of natural gas; general economic
and weather conditions in geographic regions or markets served by El Paso Corporation and
its affiliates, or where operations of the company and its affiliates are located; the
uncertainties associated with governmental regulation; competition, and other factors
described in the company’s (and its affiliates’) Securities and Exchange Commission filings.
While the company makes these statements and projections in good faith, neither the
company nor its management can guarantee that anticipated future results will be achieved.
Reference must be made to those filings for additional important factors that may affect
actual results. The company assumes no obligation to publicly update or revise any forward-
looking statements made herein or any other forward-looking statements made by the
company, whether as a result of new information, future events, or otherwise.
21