Chinese firm buys stake in QLD gas project

2012-11-1

BG Group has sold a quarter of its massive Queensland Curtis LNG project to China's CNOOC for $1.9 billion, while providing a downbeat assessment of its oil and gas production for 2013.

The sale will increase the interest of the China National Offshore Oil Corporation (CNOOC) in the first of two "trains" or liquefaction units to be built on Curtis Island at Gladstone, from 10 per cent to 50 per cent – effectively a quarter of the LNG project.

CNOOC will also take a 25 per cent stake in certain Bowen and Surat Basin fields, which will supply coal seam gas to the LNG plant.

BG also announced a new gas sale to CNOOC, 5 million tonnes a year, partly supplied by the Queensland Curtis LNG project, which is being managed by BG's Australian subsidiary QGC as operator and majority owner.

Announcement of the sale came as BG reported its September quarter earnings, which triggered a 14 per cent drop in its share price – a record one-day fall for the stock - after chief executive Frank Chapman said production would be flat next year.

In July BG already lowered its production assessment for 2012, but analysts had been expecting 10 per cent growth in 2013, London's Tele-graph reported.

 相关文章
信息订阅
业界访谈
中国企业公民委员会会长田润之致辞
在经济全球化深入发展的今天,企业履行社会责任已成为国际社会广泛共识。2010年11月1日首个国际社会责任标准ISO26…[详情]
互联网信息服务许可证号: 京ICP证020082号 广告经营许可证: 京海工商广字第0410号
工商红盾网站注册标号: 010202002052000296号  公安机关备案编号:北京市海淀分局1101081633