1. a meaningful company
doing meaningful work
delivering meaningful results
Byron Wright
Vice President, Corporate Development
Long-term Outlook for
North American Gas Market
Wachovia LNG Conference
November 13, 2007

2. 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, changes
in commodity prices for natural gas, LNG and power; 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; 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.
2

3. El Paso Asset Map
Nile
Delta
Brazil Sinai
Gulf
Egypt of
Egypt Suez
Rio de
Janeiro
Elba Island
El Paso Pipeline Group
El Paso E&P Company
3

4. Costs Are Rising Across the Chain
Capex In Billions
For a 655 MMcf/d project
Capita
SUPPLY ($1.5)
l requ
ireme
nts de
creas
LIQUEFACTION ($1.5)
e down
stream
TRANSPORTATION ($1.3)
REGAS ($0.5)
2 to 5 years
3½ to 5 years
2 years
Upstream costs have risen
30–50% in four years
3 to 3½ years
PIPELINE ($0.1–0.3)
STORAGE ($0.1–0.3)
1 to 2 years 4
Source: Wood Mackenzie

5. NA Terminal Capacity Growth
Bcf/d
20 Canaport
18 Costa Azul
Altamira
16 Northeast Gateway
Golden Pass
14
Cameron
12 Sabine Pass Exp
Sabine Pass
10 Freeport
Gulf Gateway
8
Cove Point Exp
6 Cove Point
Lake Charles Exp
4 Lake Charles
Elba Isl Exp
2
Elba Isl
0 Everett
LNG Imports
2006 2007 2008 2009 2010
5
Source: El Paso, PIRA

6. Historical Load Factors
100%
90%
80%
70%
Utilization Rate
60%
50%
40%
30%
20%
10%
0%
2000 2001 2002 2003 2004 2005 2006
NA Regas European Regas Asian Regas Liquefaction
6

7. Changes in Gas Flows
Major Flow Changes 2006–2016
Canada
(Bcf/d)
Declining exports
-2.0
to U.S.
-0.4 0.7
-1.2
-1.0
-0.5
2.8 1.5
3.4 2.9
0.6
4.7
Rockies
Increasing supplies 4.0
leaving region
0.4 1.2
1.4
1.3
LNG
5.4
Expanding current
facilities, Gulf Coast
additions
0.8
7
Source: EEA/ICF International July 2007 Reference Case

8. LNG Threats & Opportunities for El Paso
Opportunity
Threat
Threat/Opportunity
8

9. LNG Threats & Opportunities for El Paso
Opportunity
Threat
Threat/Opportunity
9

10. Southeast LNG Projects
Sabine Pass MS Elba Island
2.6 Bcf/d 4Q 2008
1.2 Bcf/d Existing
GA
+0.9 Bcf/d 2010–2012
AL
Golden Pass Lake Charles
2.0 Bcf/d 1Q 2009 1.8 Bcf/d Existing
LA
TX
Gulf LNG
Freeport LNG 1.3 Bcf/d 2Q 2011
1.5 Bcf/d 1Q 2008
Cameron LNG
1.5 Bcf/d 4Q 2008
FL
Port Dolphin
Gulf Gateway 0.8 Bcf/d 2010?
0.5 Bcf/d Existing
10

11. GOM Infrastructure: Congestion & Micro Basis
Cameron Kinder
Golden Pass
Lake Charles
Sabine Pass
11

12. Elba Infrastructure
Update
a meaningful company doing meaningful work delivering meaningful results 12

13. Elba Island & Associated Pipelines
SNG
Elba Express
SNG Cypress
CGT
Upon completion of downstream infrastructure development, Elba
Island will be capable of flowing into:
SNG’s Mainline to the Southeast, SNG’s Cypress Expansion to Florida;
Elba Express to the Mid Atlantic; CGT to South Carolina
13

14. Elba Island LNG
Growing with Market Demand
Reactivated Elba II Elba III Expansion
Elba Expansion Phase A Phase B
In Service Dec. 2001 Feb. 2006 2010 2012
Base Send-Out 446 933 1,518 2,115
Peak Send-Out 675 1,215 1,755 2,115
Total Storage (Bcf) 4.0 7.3 11.5 15.7
14

15. SNG Cypress Project
SNG
FGT
Project scope SCANA
AGL (B’wick)
• Phase I: 177 miles of 24quot;
pipeline + 4 meters ($255 MM);
220,000 MMBtu/d (May 2007)
• Phase II: Midpoint compression
($19 MM); 116,000 MMBtu/d JEA Brandy Branch
(May 2008)
FGT Jacksonville
• Phase III: Space in Elba Express
+ 2 compressor stations + 12
miles of loop on FGT ($82 MM);
164,000 MMBtu/d (2009–2010)
Progress FL
15

16. Elba Express Project to SNG and Transco
Transco Z4
~1175 MMcfd
• Owned by Elba Express Company LLC.
Transco Z5
~1175 MMcfd
– Wholly owned subsidiary of SNG
– Standalone tariff, rates, and
transportation service
• Design capacity: 1,175 MMcf/d
SNG-Wrens • Pipeline facilities
~750 MMcfd
– 105 miles of 42quot; pipeline adjacent to
SNG ROW from Port Wentworth to
Wrens
– 10 miles of 42quot; and 75 miles of 36quot;
pipeline along greenfield route from
Wrens to Transco
– Compressor station approx. 50 miles
north of Port Wentworth
– Primary interconnects with SNG &
Transco
• Supported by 25+ year agreements with
Shell (945,00 Mcf/d) and BG (up to
230,000 Mcf/d)
Elba Express Pipeline
• Total capex: ~$600 MM
16

17. a meaningful company
doing meaningful work
delivering meaningful results
Byron Wright
Vice President, Corporate Development
Long-term Outlook for
North American Gas Market
Wachovia LNG Conference
November 13, 2007