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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]|