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