Managing Partner of BTU Power Speaks at Third U.S.-Arab Economic Forum

Washington, D.C. — May 8, 2008

Wael Almazeedi, Managing Partner of BTU Power, today addressed the 3rd U.S..Arab Economic Forum being held in Washington, D.C. this week, bringing together over 1,000 participants from 35 countries around the globe.

In a presentation titled Toward a True U.S..MENA Energy Alliance: Delivering on Global Responsibilities by Overcoming Domestic Challenges, Almazeedi examined the bilateral relationship between the United States and the Middle East/North Africa (MENA), outlined the challenges facing the global energy markets and detailed a basis for a U.S.-MENA energy alliance.

"Imagine what we could achieve if we combined America's political leverage and industry and technological leadership with MENA's hydrocarbon and solar irradiation endowments," Almazeedi said. "If the relationship transformed into a true 'Energy Alliance,' the U.S. and MENA would be in a position to achieve tremendous benefits not only for the nations involved, but for the rest of the world."

Almazeedi's talk came in the context of a panel titled "The U.S.-Arab Energy Relationship and Global Wealth Reallocation: Bilateral Opportunities, Global Responsibilities and New Luquidity in the Middle East". Joining him on the panel were Peter Robertson, Vice Chairman of the Board of Chevron Corporation; Gary Heminger, Executive Vice President of the Marathon Oil Corporation; Richard Mukhtar, International Asset Manager at TAQA New World; and Chakib Khelil, Algeria's Minister of Energy and Mining and currently president of OPEC. The moderator was Pulitzer Prize winner author Daniel Yergin, chairman of IHS CERA.

The US.-Arab Economic Forum is organized by the American Middle East Economic Affairs Committee, a non-profit organization that facilitates economic growth, trade and investment between the U.S. and Arab worlds. Leaders from the U.S. and Arab world were able to engage and interact to build or strengthen relationships. Strategic sponsors of the forum include BTU Power, the State of Qatar and Ford Motor Company.

About BTU Power

BTU Power and its affiliates (collectively the "BTU Group") acquire operating assets and develop projects in the mid- and downstream segments of the energy value chain located in the Middle East, North Africa and Asia. The BTU Group's shareholders include leading institutional investors and commercial and investment banks in the GCC countries. The BTU Group can be contacted through its management offices in Waltham, Mass., USA.