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Investor Presentaiton

GAS SUPPLY CHALLENGES Funding 2005-2008 Investment Level Upstream $12.4bn Natural Downstream $20.3bn Gas Total Gas $32.7bn The investment level required to deliver both export and domestic opportunities is significant. A radical approach to sector financing is therefore essential. More importantly, there also needs to be a reduced focus on the cost effectiveness of development projects in order to ensure that funding requests are optimised

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