News

Bechtel hands over to BG Group

Paul Bruner, QGC General Manager Midstream Operations and Jeff Baillie, QGC Midstream Director.
Paul Bruner, QGC General Manager Midstream Operations and Jeff Baillie, QGC Midstream Director. BG Group

CONSTRUCTION and commissioning on QCLNG is all done and dusted and it's time for BG Group to start making some money.

The British multinational oil and gas company took 100% control today.

It took control of train one of the gas plant back in May, and yesterday Bechtel handed over a completed train two, along with the rest of the QCLNG facilities.

The hand over of Train Two yesterday signified the end of construction, commissioning and now the beginning of commercial operations for the company.

BG Group now controls 100% of operations of both trains and the QCLNG facilities.

With the construction phase completed the BG Group is now looking ahead to mid-2016 where the integrated project is expected to reach plateau production.

At that stage the amount of LNG produced should be enough to fill around 10 vessels per month which will equate to around 8mtpa.

Train Two is owned 97.5% by BG Group and 2.5% by Tokyo Gas.

Train One is owned 50% by BG Group and 50% by CNOOC.

But BG Group own 100% of both Trains' LNG and equity.

In a statement released last night BG Group's chief executive officer Helge Lund congratulated QGC and Bechtel.

"The QGC and Bechtel team deserve great credit for the completion of the project," he said.

"I would also like to thank out partners, contractors, government authorities including the state of Queensland, together with the landholders and the communities from across the Surat Basin to Curtis Island for their support.

"With both trains now fully operational, QCLNG adds significant volumes and flexibility to our LNG shipping and marketing portfolio."

This announcement comes six days after gas giant Shell announced it would be allowed to take over BG Group.

The Australian Competition and Consumer Commission announced the takeover of BG Group would not threaten domestic gas prices and they would allow it to go ahead.

Topics:  gladstone industry



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