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BG Group to Sell Pipeline for QCLNG to APA Group
= In a review of assets for future strategy =
BG Group announced on December 9 that it agreed to sell Queensland Curtis LNG Pipeline Pty Ltd. to APA Group, Australia's largest gas infrastructure business for approximately US$5 billion. The pipeline company, owning the QCLNG Pipeline that is a gas transmission pipeline for BG Group's QCLNG Project, is owned by Queensland Gas Company (QGC), one of the group companies in BG Group.

BG Group is reviewing its reference conditions, long-term price assumptions and business plans in light of recent movements in commodity prices, particularly oil.

QCLNG Project, scheduled to start-up this month at an LNG producing capacity of approxumately 8.5 million tonnes per year, is the world's first large-scale project to produce LNG from coal seam gas, which is transported through the above-mentioned large-diameter pipeline of 543 kilometers in overall length.

Upon the sale of QGC to APA Group, BG Group has secured a right to the pipeline's capacity for 20 years with options to extend.
last modified : Tue 16 Dec, 2014 [11:08]
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