Business

BG Group completes sale of QCLNG pipeline

BG Group has completed the sale of its QCLNG gas pipeline linking gas fields to Curtis Island.

The company's wholly-owned 543 kilometre pipeline network was sold to APA Group.

The transaction resulted in gross proceeds for BG Group of about US$4.6 billion.

>> LNG production to quadruple as plants come online

The sale proceeds will be used to reduce net debt and to fund future growth investment.

BG Group announced the sale in December, saying the move was in line with the company's strategy to focus on its core areas of oil and gas exploration and production, and LNG.

Topics:  bg group, curtis island, gas, lng, qclng




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