Rene Kanayama, Chairman of the Board and Corporate Director. Japan Investment Advisory Council, United Kingdom October 5-6, 2010 Kastel Ecka, Serbia

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1 Role of International Organizations in Support of Realization of Regional Projects in Energy Western Balkans and South-East Europe Rene Kanayama, Chairman of the Board and Corporate Director Japan Investment Advisory Council, United Kingdom October 5-6, 2010 Kastel Ecka, Serbia

2 What we do: Spearheading economic research Establishing government support Launching specific business projects Also focus on Small and Medium Energy projects with utilization of PPP experts based in United Kingdom Sector-wise focus on oil, gas and nuclear

3 Regional Focus: Commonwealth of Independent States, namely Russian Federation and Ukraine South-East Europe, namely Serbia and Bosnia & Herzegovina Central Asia

4 Personal Involvement: Advisor, Foreign Direct Investment, InvestUkraine, (January 2008 to March 2009) Independent Expert Advisor to the Ministry for Economic Relations and Regional Cooperation of Republic of Srpska, Bosnia and Herzegovina (March 2009 to March 2010) Special Advisor for Economic Relations, Trade Representative Mission of Republic of Tajikistan in Ukraine (From June 2009) Advisor, International Petroleum and Gas Programs, Ukrainian Institute on Gas Industry Projects Designing (From June 2009)

5 Japanese Government and Private Sector Involvement in Regional Energy Projects: Upstream development (Gov. & private) Oil and Gas Exploration RF, AZ, KZ, UA Midstream development (Gov. & private) Oil Pipeline Construction - BTC Downstream business (private) Oil Supply and Refineries Modernization

6 Why Government Involvement?: Goal of expanding the percentage of oil developed by Japanese companies in the total crude oil purchase from the current 15% to 40%

7 Regional Examples ACG, Kashagan Oil Fields: Map Courtesy of Google

8 Upstream Development Azerbaijan: Azeri, Chirag and Gunashli (ACG) Production start 1997 ITOCHU Oil Exploration (Azer.) Inc. and INPEX Southwest Caspian Sea Ltd. Private sector participation JOGMEC geological survey ( 2 for 1 model), equity financing / loan guarantees Government participation

9 Upstream Development Kazakhstan: Kashagan Oil Field Production start 2008 INPEX North Caspian Sea Ltd. Private sector participation JOGMEC financial support Government participation

10 Midstream Development - BTC: Map Courtesy of JOGMEC

11 Particulars of Baku Tbilisi Ceyhan Construction Involvement: First crude oil lifting in 2006 ITOCHU (ITOCHU Oil Exploration (BTC) and INPEX (INPEX BTC Pipeline, Ltd.) Private Financial Participation JBIC (Japan Bank for International Cooperation) USD 2.7 bil. for infrastructure and oil field development (loans) Government Participation

12 Regional Implications for South-East Europe: Upstream Diversification of fossil sources, incl. oil exploration in Bosnia and Herzegovina Access to national oil supply business Midstream Successful launch of South Stream Development of auxiliary infrastructure, incl. full gasification of the region

13 Regional Implications for South-East Europe (continued): Downstream Full modernization of region s downstream (refineries, terminals) Possible eye on retail and distribution Plus Diversification of energy generation (Japanese government focus on wind and nuclear)

14 Specific JIAC Involvement: Completion of preliminary research on Black Sea potential in the Ukrainian offshore with JOGMEC Government relationships in UA established 5-year planning for territory exploration Commentary on energy legislature Consideration for downstream utilization of produce in particular South-East Europe Focus on Small and Medium Energy projects with utilization of PPP experts based in United Kingdom

15 Thank you. Japan Investment Advisory Council

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