18 September, 2026 Floating Data Centre Race: 6.5 MW → 200 MW in Five Years Why offshore: Land • Grid • Cooling UNIT COST 🇨🇳 $9.4K/kW — Shanghai HiCloud / Hailanyun — 24 MW 🇺🇸 $3.6K/kW — Hockema — 25 MW 🇺🇸 $6.9K/kW — Nautilus Stockton — 6.5 MW $6.6K/kW — Simple average* TECHNICAL VALIDATION CAPACITY 🇺🇸 6.5 MW critical IT — Nautilus — Operational since 2021 [6] 🇨🇳 2.3 MW live → 24 MW planned — Shanghai HiCloud / Hailanyun — Operational / Expansion [1] 🇯🇵 20–73 M

August 2,2026 Key observations Global refining capacity increased from 88 → 104 Mmbpd (+18%). Global refinery throughput increased from 77 → 83 Mmbpd (+8%). Around 40% of global refining capacity is now located in Asia, reflecting the continued shift of global refining investment. China, India and Russia increased their combined refining capacity from 15 → 31 Mmbpd (+107%), with China contributing +11 Mmbpd of the total increase. The United States maintained broadly stable re

10 September 2026 Evolution: Oil → Gas → LNG → Power → Power for AI Key Points $1.8tn — contracted future business $700bn+ — planned CAPEX (2026) 17 GW — AI data-centre capacity delivery gap $1.8 Trillion — Contracted Future Business $678bn — Microsoft $638bn — Oracle $514bn — Google Cloud [1–3] $700+ Billion — Planned CAPEX in 2026 $200bn+ — Amazon $200bn — Alphabet $175bn — Microsoft $130–145bn — Meta [4] 85 GW — In Development (458 Facilities) 24 GW — fully secured 68 G

8 September 2026 LNG: Modular vs Stick-Built? Modular is favoured at remote sites with limited labour, infrastructure and supply access. Key Points CAPEX 🟢 ↓ Potential saving: 5–10% (1) Project Duration 🟢 ↓ Up to 20% shorter (2) Overall Plant Weight 🔴 ↑ 20% higher (3) Modular Advantages Site Construction Hours 🟢 ↓ Less on-site work Camp Cost 🟢 ↓ 41% lower (3) Fabrication-Yard Productivity 🟢 ↑ 25–30% higher (1) Fabrication Cost 🟢 ↓ 28% lower (3) Weather: Reduced site ex

1 September 2026 Data Centres: $500bn Investment — The New Energy Customer Key Points Investment nearly doubled in two years → $500bn in 2024 For Comparison: Upstream Oil & Gas — $570bn Electricity Demand (2024–2030): 415 → 945 TWh Installed Capacity (2005–2025): 21 → 114 GW Growth Drivers: IT → Cloud → AI Power Package Scale-Up: 26 → 200 → 2,000 → 5,000 MW How Data Centres Are Powered Coal — 30% Renewables — 27% Natural Gas — 26% Nuclear — 15% Infrastructure Constraints Chip

19 August 2026 Capacity balance: Regasification vs Liquefaction — 2.1× → 0.9×. Why? 2025: Liquefaction capacity 525 MTPA vs regasification capacity 1,114 MTPA — 2.1× Future additions: Liquefaction capacity 250 MTPA vs regasification capacity 230 MTPA — 0.9× Projects: 94 MTPA | 25 projects Under construction: 64 MTPA — 14 projects Advanced pre-FID: 25 MTPA — 8 projects Early-stage concepts: 5+ MTPA — 3 projects Innovations Phased terminal development Shared port and pipeline i

28 August 2026 FSRU vs Onshore → Flexibility vs Scale CAPEX Advantage: ~25% FSRU: $130/tpa | 155K m³ storage | 7 buffer days Onshore: $210/tpa | 830K m³ storage | 10 buffer days FSRU or Onshore? FSRU advantages: Fast-track Redeployment Charter option Onshore advantages: Lower weather-related operating exposure Larger scalable capacity Phased expansion — tanks, regasification trains and berths Lower OPEX — no vessel crewing, classification surveys, periodic drydocking or towag

17 August 2026 Commercial pioneers → Asian scale-up → FSRU → Fast-track terminals Capacity evolution 🔹 1964–1985 | Commercial pioneers — Atlantic terminals established LNG trade; Japan built large receiving and storage infrastructure. 🔹 1986–2003 | Asian scale-up — South Korea and Taiwan joined Japan; larger terminals and national gas networks made Asia the centre of LNG demand. 🔹 2004–2014 | New import markets — India and China commissioned their first major terminals;

14 August 2026 Onshore Gas Pipeline CAPEX (2005–2030) Key facts: • Conventional: $4.5M/km (15 projects) • Mountains: $15.1M/km (4 projects) • Arctic/Sub-Arctic: $7.9M/km (4 projects) Conventional 🇺🇸 2008 — Southeast Supply Header | 435 km | 42″ | $3.6M/km 🇺🇸 2009 — Gulf Crossing | 568 km | 42″ | $3.0M/km 🇺🇸 2011 — Tiger Pipeline | 282 km | 42″ | $5.5M/km 🇺🇸 2011 — Fayetteville Express | 301 km | 42″ | $4.8M/km 🇺🇸 2017 — Trans-Pecos + Comanche Trail | 544 km comb