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									                                                   Mark Leland
                   Executive Vice President & Chief Financial Officer
                                    El Paso—Where We’ve Been and
                                              Where We’re Going
                                                          NOMADS
                                                     August 10, 2009

Interstate Pipelines  Exploration & Production
Cautionary Statement Regarding
Forward-looking Statements

This presentation includes certain forward-looking statements and projections. 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, our ability to implement
and achieve our objectives in our 2008 plan, including achieving our earnings and cash flow targets; changes in reserve
estimates based upon internal and third-party reserve analyses; the effects of any changes in accounting rules and guidance;
our ability to meet production volume targets in our Exploration and Production segment; uncertainties and potential
consequences associated with the outcome of governmental investigations; outcome of litigation; our ability to comply with
the covenants in our various financing documents; our ability to obtain necessary governmental approvals for proposed
pipeline projects and our ability to successfully construct and operate such projects; the risks associated with recontracting of
transportation commitments by our pipelines; regulatory uncertainties associated with pipeline rate cases; actions by the
credit rating agencies; the successful close of our financing transactions; our ability to close our announced asset sales on a
timely basis; changes in commodity prices and basis differentials for oil, natural gas, and power; inability to realize anticipated
synergies and cost savings associated with restructurings and divestitures on a timely basis or at all; general economic and
weather conditions in geographic regions or markets served by the company and its affiliates, or where operations of the
company and its affiliates are located; the uncertainties associated with governmental regulation; political and currency risks
associated with international operations of the company and its affiliates; competition; 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
El Paso Corporation
                                                  Nile
                                                  Delta

                              Brazil                      Gulf
                                                               Sinai
                                             Egypt           of
                                              Egypt            Suez
                                   Rio de
                                   Janeiro




                                                                       Elba Island




     El Paso Pipeline Group
     El Paso E&P Company
 3
                                                                              3
                                                 Share Price




                       $10.00
                                $20.00
                                             $30.00
                                                      $40.00
                                                               $50.00
                                                                        $60.00
                                                                                 $70.00
                                                                                          $80.00




               $0.00
    06/01/99
    10/01/99
    02/01/00
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    10/01/00
    02/01/01
    06/01/01
                                                                                                   $74.50




    10/01/01
    02/01/02
    06/01/02
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    02/01/03
    06/01/03
                                         $3.45
                                                                                                            El Paso Case Study




    10/01/03
    02/01/04
                                                                                  20+ Businesses




    06/01/04
                                                                                  Market Cap $38B




    10/01/04
                                                                                  15,000+ employees
                                                                                  Fortune 20 Company




    02/01/05
    06/01/05
    10/01/05
    02/01/06
    06/01/06
    10/01/06
    02/01/07
    06/01/07
    10/01/07
    02/01/08
    06/01/08
    10/01/08
                                           $10.24
                                                       Market Cap $7B




    02/01/09
                                                       5,000 employees




    06/01/09
                                                       2 Core Businesses




4
                                                       Fortune 500 Company
How the Story Begins

   El Paso in business for 80 years
   High profile proxy contest mid-2003
   Company’s viability in doubt
   Shareholders lacked confidence
   Employee morale low
   New management September 2003


                                         6
Building Blocks for Success

   Purpose

   Values

   Vision

   Corporate governance

   Cultural transformation

   Turnaround plan communication and execution


                                                 7
We Have a Clear Purpose



       El Paso Corporation provides
      natural gas and related energy
      products in a safe, efficient, and
           dependable manner




                                           8
Shared Values and
a Vision for the Future




      the place to work
 the neighbor to have
  the company to own




                          9
Culture Transformation

  From:                   To:
  Entitlement             Performance-driven
  Managers                Leaders
  Jobs                    Careers
  Present                 Engaged
  Tactical                Strategic
  Administrative HR       Partnering HR
  Policies & Procedures   Flexible Solutions
  HR Programs             Leadership Owned

 10
                                               10
It’s Working:
Employee Survey Highlights

      How engaged are employees?
          2004: 52%                   100%
                                       90%
          2006: 73%
                                       80%
          2008: 86%
                                       70%
                                       60%
      I am proud to work at El Paso:   50%
          2004: 42%                   40%
                                              2004    2006    2008
          2006: 78%
                                                Engagement   Pride
          2008: 91%


 11
                                                                     11
Aggressively Responding to Challenges

   Challenges
    Difficult capital markets
    Weak natural gas prices

   Actions taken
    Raised significant liquidity
        Financings, MLP drop down, asset sales
    Secured substantial price protection
     through 2011
    Ruby
        Secured 50% partner
        Hired financial advisor

                                                  12
Staying Focused On Strategy

      Complete pipeline backlog
       On-time/on-budget

      Maximize returns on E&P
       Haynesville
       Altamont
       Continue efficiency gains

      Increase organizational effectiveness

      Mitigate downside risk
 13
                                              13
El Paso Pipeline Group
                 North America’s Leading Natural Gas Pipeline Franchise
                                                                                      Tennessee
                    Colorado                  Wyoming                                Gas Pipeline
                 Interstate Gas               Interstate

                                                          Cheyenne
   Mojave                                               Plains Pipeline
   Pipeline
                                                                                            Southern
                                                                                           Natural Gas

      El Paso                                                                                        Elba Island
     Natural Gas                                                                                        LNG

                              Mexico                                      Gulf LNG
                             Ventures                                      (50%)
                                                                                               Florida Gas
                                                                                           Transmission (50%)

                     19% of total U.S. interstate pipeline mileage
                     26 Bcf/d capacity (15% of total U.S.)
                     19 Bcf/d throughput (30% of gas delivered to U.S. consumers)

Source: El Paso Corporation based on 2007 data
Note: Includes El Paso Corporation and El Paso Pipeline Partners, LP                                            14
Outstanding Pipeline Backlog
                                 Current outlook: on-time/on-budget

                                      Ruby Pipeline
                                     $3 Billion (100%)                                                                       TGP Concord
                                            2011                                           TGP 300 Line Project                 $21 MM
                                       1.3–1.5 Bcf/d                                           $0.6 Billion                    Nov 2009
                                                                                                  2011                        30 MMcf/d
         WIC System Expansion                                                                  340 MMcf/d
                $71 MM
                 2011                                                                                              Elba Expansion III* & Elba
              320 MMcf/d                                                                                                      Express
                                                                                                                            $1.1 Billion
          WIC Piceance Lateral                                                                                              2010–2014
                $62 MM                                                                                            8.4 Bcf / 0.9 Bcf/d & 1.2 Bcf/d
                4Q 2009
              220 MMcf/d                                                                                               SNG South System III/
                                                                                                                           SESH Phase II
                                                                                                                         $352 MM / $69 MM
                                   CIG Raton 2010
                                                                                                                            2011–2012
                                     Expansion
                                                                                                                      370 MMcf/d / 350 MMcf/d
                                      $146 MM
                                      4Q 2010
                                     130 MMcf/d                                                                FGT Phase VIII
                                                                                                                 Expansion
                                                                                                             $2.4 Billion (100%)
                                                                                         Gulf LNG                   2011
                                                                                     $1+ Billion (100%)         800 MMcf/d
                                                                                            2011
                                                                                     6.6 Bcf / 1.3 Bcf/d
          El Paso Pipeline Partners, LP
          El Paso Pipeline

Note: As of August 6, 2009; El Paso Pipeline Partners owns 25% of SNG & 58% of CIG
*Elba Phase III B expansion at BG’s option                                                                                                 15
Elba Expansion




                 16
TGP Appalachian Strategy
   TGP 300 Line Project                                                        NH
                                               Potential Marcellus   VT
     Capital reduced from                        Interconnects
     $0.75 billion to $0.6 billion                   ~ 2 Bcf
     FERC application filed in July                                       MA
     342 MMcf/d capacity                       NY
     Potential future expansions                                          CT
                                                                                    RI
                                          PA
                                                               NJ
                                      Backhaul


       OH                                              Capitalizing on Footprint
                              Marcellus                   80 MMcf/d backhauls
                               Shale
                                                          ~ $50 MM annual reserve
                         WV                               No capital
                                                          Future additional opportunities
                                          VA


        KY        Well-positioned in growing region
                                                                                            17
Top 10 Domestic Independent


                                    Brazil
  Brazil
                          2 significant
                          development projects
                          Additional exploration
                          potential




                                    Egypt
                           Onshore conventional
   Egypt                   exploration
                           1.45 MM net acres                                         Domestic
                           First drilling January 09                    Low to medium-risk repeatable
                                                                        plays
                                                                        98% drilling success rate
                                                                        Growing unconventional inventory

Note: Based on 2008 data except Egypt; acres include January 2009 transaction with RWE and the recent South Alamein
      transaction which is pending approval by the Ministry of Petroleum                                              18
International Update
Brazil                                                Egypt

  ES-5 Block                                            South Mariut Block
                                                               Two unsuccessful wells
        Camarupim development progress—
         first export scheduled for August              South Alamein Block
                                                               Drilled first South Alamein exploration
        FPSO commissioning underway                            well; tested hydrocarbons
  Pinauna Field                                                Second well currently drilling
                                                        Tanta Block
        Spend deferred in line with regulatory
         approval progress                                     2D seismic acquired

  BM-CAL-5 Block
        Jequitiba well drilled
                                                  BM-ES-5
         and under evaluation
                                     CAMARUPIM
                                             

                                          

                                         
                                         



                                                                                                    19
El Paso Haynesville Position

                                                                  Claiborne
                   Marion
                                                                                  EP Program Statistics
                                                        Webster
                                              Bossier                               Net unrisked resource:
                                                                                    900–950 Bcfe
                  Harrison          Caddo
                                                                                    Net risked resource:
 Gregg                                                                              800–900 Bcfe
                                                                      Bienville
                                                                                    Locations: 250–300
                                                                                    40,000 net acres in play
                      Panola                            Red River                   30,000 net acres in LA
                                                    Haynessville wells              Most acreage is held by
   Rusk                                    Desoto     ≥15 MMcfe/d                   production
    El Paso acreage          Shelby
    El Paso horizontal Haynesville wells
    Current prospective area




                                                                                                             20
Haynesville Shale Program Update
                                                                                                          Haynesville Well Performance
                                                                               25
9 Wells Producing        Gross IP (MMcfe/d)




                                                               Gross MMcfe/d
                                                                               20
    Miller Land Co 10H #1        4.5
                                                                               15
    Travis Lynch GU #4-H         8.0
    RF Gamble 24H #1            14.6                                           10

    Blake 10H #1                20.3                                           5
    JR Gamble 11H #1            17.8                                           0
    Annette Green 22H #1        16.8                                                       0              50            100                150            200                  250           300
                                                                                                                                                Days
    Hamilton 12H #1             14.5                                                                 MILLER LAND CO_ LTD 10 #1                                    TRAVIS LYNCH #4H
                                                                                                     R F GAMBLE 24H #1                                            BLAKE 10H #1
    Weathers 14H #1             22.1                                                                 J R GAMBLE 11H #1                                            ANNETTE GREEN 22H #1
                                                                                                     HAMILTON 12H #1                                              WEATHERS 14H #1
    Ray Oden 35H #1             19.0                                                                 Ray P Oden 35H #1

                                                                                                               Haynesville Total Production
Current Activity                                               70
     Drilling Hunt Oil #1H and JR Gamble 21H                   60
                                               Gross MMcfe/d
                                                               50
     Completing El Paso Mgmt Inc 14H #1,                       40
     AV Young 7H #1 and Fingerle 25H #1                        30
                                                               20
     2 rigs running during remainder of 2009                   10
                                                                0
                                                                                01/31/09

                                                                                               02/15/09

                                                                                                          03/02/09

                                                                                                                     03/17/09

                                                                                                                                04/01/09

                                                                                                                                            04/16/09

                                                                                                                                                       05/01/09

                                                                                                                                                                    05/16/09

                                                                                                                                                                                05/31/09

                                                                                                                                                                                           06/15/09

                                                                                                                                                                                                      06/30/09

                                                                                                                                                                                                                 07/15/09
 Currently producing 37 MMcfe/d (net)
                                                                                                                                                                                                                 21
Haynesville Summary
Execution Efficiency                      Well Design                 Well Productivity
13            101                                   4,075                                  6.5
                                          11                                  19       6
                                                3,758                    18
     11             69                                  3,534
                                    9
          8              58

                                                                     9             3




                          First 3 wells        Mid 3 wells   Last 3 wells

                                                                                            22
Summary

  Making great progress on all fronts

  But gas price environment and capital
  markets uncertainty pose challenges

  Will be prepared—versus hoping for the best




                                                23
                                                   Mark Leland
                   Executive Vice President & Chief Financial Officer
                                    El Paso—Where We’ve Been and
                                              Where We’re Going
                                                          NOMADS
                                                     August 10, 2009

Interstate Pipelines  Exploration & Production

								
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