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China's CNOOC to buy Australian LNG from BG

05.08.2013  | 

BG Group signed binding agreements with CNOOC for the sale of certain additional interests in the Queensland project for $1.93 billion and for the supply of an additional 5 million tpy of LNG.

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By TAPAN PANCHAL

LONDON -- BG Group announced it has signed binding agreements with CNOOC for the sale of certain additional interests in the Queensland Curtis LNG (QCLNG) project in Australia for $1.93 billion and for the supply of an additional 5 million tpy of LNG.

CNOOC will reimburse BG Group for its share of QCLNG project expenditure incurred from January 2012.

Agreements exclude any interest in the Train 2 liquefaction facility, transmission pipeline and QCLNG project common facilities.

Completion of the transaction is expected by the end of the year.

BG Group's Australian business QGC Pty Ltd. remains operator and retains majority ownership of the QCLNG project.


Dow Jones Newswires



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kaci nassim
05.10.2013

02 years drilling supervisor with SONATRACH COMPANY

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