We have a number of unique strengths that give us a competitive advantage in the marketplace:

Portfolio of Three West Coast LNG Terminal Projects

Having three terminals, instead of just one, makes us more attractive to suppliers because we give them the flexibility of delivering to multiple receiving points, all of which connect to major pipelines and markets.

Three at Once

Simultaneously developing multiple terminals will provide economies of scale at the development, supplier agreement, financing, construction and operating stages. We will leverage our knowledge and experience for the benefit of each successive project.

Strategic Locations

We chose each of our LNG terminal locations for their:

• Access to markets

• Ability to be developed in a low-cost and cost-effective manner

• Ability to reduce the time required for permitting and construction to the greatest extent possible

• Reduced downstream transportation costs for our customers

First Mover

Bradwood Landing and Clearwater, if completed on schedule, are expected to be the first operating LNG terminals in their respective markets. At this time, Bradwood Landing is the only LNG terminal project in the Pacific Northwest that has advanced to the final stages of the Federal Energy Regulatory Commission (FERC) permitting process. Because Clearwater Port utilizes an existing platform and does not require construction of LNG storage facilities, NorthernStar believes that it can complete construction in a substantially shorter timeframe compared with other offshore terminal proposals in Southern California.

Experienced, Nimble and Well-Funded

Our senior management team has significant prior experience with LNG terminals and has been involved in the development of our three LNG terminal projects since 2002. In addition, our discipline, structure and hands-on development approach will allow us to identify and react more quickly to development, regulatory and construction hurdles than our larger competitors. We enjoy the advantages of being more flexible and responsive than larger competitors but better funded than our smaller independent competitors.