Statoil has a unique gas business with access to infrastructure and markets in Europe. Natural gas is seen as a fuel for the future due to its lower carbon footprint compared to coal, cost competitiveness, and increased global gas resources including from unconventional sources like shale gas. Statoil remains positive about the gas market going forward and sees opportunities to grow gas's role in power generation.

1. Natural Gas – a fuel for the future
Jan Rune Schøpp, Vice President – Strategy and Analysis Natural Gas, Statoil
Press brief ONS, Stavanger 25 August 2010

2. 2
Statoil – building growth from a firm strategy
A firm strategy Growth areas
Build Maximise
new
energy
the NCS Harsh environments
values
Deep water
Heavy oil
Deliver international growth
Gas value chains

3. 3
Gas increasingly important in Statoil’s
production on the Norwegian Continental Shelf
Ambition to maintain New added production
NCS production level towards 2020 (mmboed) capacity towards 2018
Tommeliten Alpha
Start-up 2014-2018
Astero
Lavrans
1200
Peon
1000 Alfa Sentral
Hild
800
Luva
600 Valemon
15/5-2
400
Start-up 2012-2016 Dagny/Ermintrude
200 Marulk (Sanctioned)
Pan Pandora
0 Ormen Lange Compression
1990 1993 1996 1999 2002 2005 2008
Gudrun (Sanctioned)
Gas production* Oil production* Grane C&M
Goliat (Sanctioned)
* Production: Statoil’s equity production 1990 – 2009 Note: Bold indicates operatorship / joint operatorship

4. 4
A unique European gas position
Access to an integrated
A leading marketer of gas (bcm) and flexible infrastructure Proximity to markets
Pipeline
LNG
165
Åsgard transport
Ormen Lange Norway
Nyhamna
Tampen LinkTroll
Kollsnes Russia
Vesterled
Kårstø
Sleipner Draupner
71 St Fergus
Europipe II
Ekofisk
Europipe I
55 55
Norpipe
Langeled
Easington Emden/
Zeepipe Dornum
Franpipe
Zeebrugge
Dunkerque
Algeria
Gazprom Statoil* Sonatrach GasTerra
* Statoil entitlement gas and NCS gas marketed on
behalf of SDFI sold in Europe
Source other companies Cedigaz 2008

5. 5
Majority of Statoil’s gas sold under long-term
gas sales contracts
Strong customer portfolio* –
Strong growth in sales (bcm) geographically diversified
87
78
61
39
2001 2004 2007 2009
2001 and 2004: Statoil’s and Hydro’s annual reports, incl. SDFI
2007 - 2009: Statoil and SDFI, including third party volumes
* List not exhaustive

6. 6
Developing new gas value chains
Shah Deniz –
Marcellus – US Algeria – North Africa NCS – Norway Azerbaijan

7. 7
A new supply corridor to Europe with Shah
Deniz in Azerbaijan
Shah Deniz – one of Statoil’s Shah Deniz phase 2 –
most important international gas fields possible new gas corridor to the European market
Nabucco
Trans Adriatic Pipeline (TAP)
Italy Greece interconnector (IGI)
South Caucasus pipeline (SCP)
Transit pipelines
- Statoil’s ownership share 25.5 per cent - Potential exports phase 2 exceeding 16 bcm/yr
- 8 bcm/yr gas export from Shah Deniz phase 1 - MoU between Turkey and Azerbaijan represents
- Gas sales to Turkey, Georgia and Azerbaijan a major step forward for the Shah Deniz project

8. 8
Gas prices are not low in a historical context
Main drivers in the gas market (bcm) Gas prices (øre/Sm3)
565
565
300
531
531
Gas demand (EU27)
2008
2008 2009
2009
200
268
268
232
232
LNG supply capacity 100
2008
2008 2009
2009 Market’s
expectation
88
268
63
0
232
2000
2001
2002
2003
2005
2006
2007
2008
2010
2011
2012
2013
2015
US shale gas production
2008
2008 2009
2009
NBP HH German border Japan Average
Sources: BMWi, Heren, Platts, CERA

9. 9
Robust long term growth in gas demand
US (bcm) Europe (bcm) Asia (bcm)
1000 1000 1000
800 800 800
600 600 600
400 400 400
200 200 200
0 0 0
2010 2020 2030 2010 2020 2030 2010 2020 2030
Domestic supplies Imports Upside potential
Source: Statoil internal

10. Conclude new
10
sales
Natural gas – a fuel for the future
Reduce CO2 emissions by 70% Most cost Available now when old
compared to old coal-fired plants competitive fuel capacity need to be replaced
New capacity
$15/MMbtu
New coal
plant 0 – 10 yrs
reductions $11/MMbtu
$10/MMbtu 11 – 20 yrs
Old coal
Gas
plant
switch
emissions 21 – 30 yrs
reduction
New 31 – 40 yrs
CCGT
emissions Older than 40 yrs
Europe
Source: Deutsche Bank Source: IEA world energy outlook 2009 Source: CERA and Platts

11. 11
The shale gas revolution has increased global
gas resources
Global gas resources 2008 (TCM)
OECD Russia / FSU Middle East Rest of the world
210
200 200
170
Conventional gas resources Unconventional gas resources
Source: IEA World Energy Outlook 2009

12. 12
Summary
− Statoil has a unique gas business
− Natural gas is a fuel for the future: low carbon footprint, cost competitive and
abundant resources
− Statoil has a positive market view going forward
− Window of opportunity to increase the role of gas in the fuel mix for power
generation