BG Group completes sale of pipeline
LNG Industry,
BG Group has completed the sale of its 543 km pipeline network linking natural gas fields with the Queensland Curtis LNG (QCLNG) facility.
The pipeline has been sold to APA Group. The transaction has resulted in gross proceeds for BG Group of approximately US$4.6 billion.
The sale proceeds will be used to reduce net debt and to fund future growth investment.
Adapted from press release by Katie Woodward
QGC has assumed operational control of Train 1 at the Queensland Curtis LNG project, from Bechtel Australia.
APA Group has responded to comments made by BG Group about the purchase price for the QCLNG pipeline.
APA Group has raised funds to complete the Queensland Curtis LNG Pipeline acquisition.
BG Group has agreed to sell its subsidiary, QCLNG Pipeline, to APA Group for US$5 billion.