Welcome back. Natural gas is expected to play a very important role in the energy transition. Basically, all scenarios from all sources, we see that the role of natural gas is expected to increase both absolutely and certainly, so relatively to other fossil fuels. The share of international traded gas also which is accounted by LNG is expected to grow relative to the share which is accounted for by pipeline-gas transportation. So these two trends, increasing role of gas and increasing reliance on LNG as a way to transport gas internationally, are well established. Why do we expect natural gas to have a growing role? Essentially it is because of environmental benefits from using natural gas. Gas burning generates roughly half the CO2 emissions of coal and it does not generate particulates. So the flame is clean and does not affect the environment in the neighborhood. In addition, gas power plants are flexible, their production can be increased or decreased rapidly, and therefore, they combine well with non-dispatchable renewables such as wind and solar which we don't always control. Fossil gas is abundant and it is available from many sources, in many countries. So there is no dependency or danger to security of supply in relying on gas imports. This chart shows that different gases are generated by different sources, and in particular, that natural gas, which is the light blue bars, generate essentially no particulates and no sulfur dioxide emissions. They generate some nitrogen oxide emissions but much less than oil, and they generate some carbon dioxide emissions but much less than coal. So the environmental benefit of using natural gas is very clear. In satisfying future growing energy demand, we see that the International Energy Agency expect, of course, much rapidly growing role for renewable sources, but also a growing role for gas in both the industrial and the emerging countries. In contrast, for oil, there is additional demand in the emerging countries but decreasing demand in the industrial countries, and the same is true for coal even more so. Natural gas just after renewable sources is expected to be the primary source of energy, whose utilization will grow fastest in the coming decades. Imports, international trade of natural gas will take place, as I mentioned, already as pipeline gas or LNG. The increase will be primarily in LNG, especially in exports towards Asia which are the right-hand side of this graph, but also to some extent in exports towards Europe. In exports towards Europe, the demand for pipeline gas from Russia is expected to decrease somewhat, which will improve the feeling of energy security in Europe. But it is primarily towards Asia that the increase in LNG and some increase in pipeline gas exports will be directed. Indeed, Asian countries will absorb the bulk of increased LNG trade. You can see the details in the upper part of this slide. In the lower part of the slide, you will see that the supply, it is attracted to originate from the Middle East, Sub-Saharan Africa, Australia, the United States, and several other regions. So the additional supply of LNG will be quite diversified and quite secure. With respect to prices, we expect that the growing importance of LNG will bring about an effective unification of global market which has not existed so far. So a reduction in price differences in all the importing countries notably, in this case, as is shown in this chart between Japan and the European Union. A difference will persist with the United States because the United States are an exporting country, it's not an importing country, and the difference between the price in the United States and in the importing countries such as the European Union or Japan, will be accounted for by the need to liquefy and transport the gas to those places. But otherwise, apart from the cost of liquefying and transporting the gas, prices will tend to converge. In addition to lower CO2 emissions, natural gas also has the potential of being, to some extent, at least renewable because natural gas is generated also from organic material, from biomass, not just from fossil sources. So progressively down the road, we may succeed in originating more gas from the decay of biomass and combine that with the gas that we originate from fossil sources, and progressively, have a gas economy, which is, in fact, renewable. In addition, natural gas is the easiest way to produce hydrogen. It can be treated and transformed into pure hydrogen, which, of course, is a clean-burning fuel, because the only thing that you get out of burning hydrogen is water. The existing pipeline network which has been established for natural gas can be adapted to transport hydrogen so that in the future according to some people, the natural gas industry may be progressively cleaned, so to speak, by shifting from serving and transporting natural gas to transporting hydrogen. At the same time, we also must take into account that methane itself is a powerful greenhouse gas. So there is a negative impact from using gas, especially from two phenomena. One is the flaring of natural gas, which is produced in association with oil, whenever there is no pipeline or no obvious utilization possibility close to the oil well. The second is the possibility of leaks from pipelines and from the network. So eliminating flaring and the leaks is something that could significantly improve the climate impact of using natural gas and further contribute to reducing emissions. Flaring has not been growing as fast as oil production, which is what we see in this graph. However, it has even decreased a little bit but not as rapidly, as decisively as it would be needed for the purpose of mitigating climate effects. This graph shows which are the major culprits, the countries that flare the most. You have Russia in first position, followed by Iraq and Iran, but then you find the United States, and this is due to the fact that the shale oil boom has frequently been accompanied by an increase in flaring because whenever there is no pipeline close to the shale oil wells, the producers just prefer to flare it. In theory, it is not allowed to keep on flaring beyond a certain time but you can request an exemption, and these exemptions have been routinely granted in the United States. So that is certainly a problem.