Upstream capital expenditure in Asia Pacific has been cut by US$30 billion since 2014. Investments in shallow water and tight gas projects have remained steady but deepwater projects have been deferred. Operating costs are only down 12% from 2014 due to an already low cost base and an increasingly mature asset base. In the short term operators are focused on leveraging infrastructure for growth maintaining utilisation of gas pipelines and LNG facilities will be key. This is clearly visible in recent FIDs and we expect the trend to continue.