31 October 2012
Details
BC Group
has signed Heads of Agreement (HOA)
with CNOOC (China National Offshore Oil Corporation)
for sale of
a) certain interests in Queensland Curtis LNG
(QCLNG) project in Australia
for $ 1.93 billion
- The interest conveyed include
* a stake in certain upstream tenements and
* Train 1 Liquefaction facility
but exclude any interest in
Train 2 Liquefaction facility,
transmission pipeline and
QCLNG common facilities
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b) Liquefied Natural Gas (LNG) from
BG Group's global LNG porfolio
- BG Group will supply CNOOC with
5 million tonnes per annum (mtpa)
for 20 years
beginning in 2015
- In March 2010,
BG Group signed a sales agreement with CNOOC
to supply LNG 3.6 mtpa.
- BG Group's total LNG sales committed to China
is 8.6 mtpa, making BG Group the largest supplier of
LNG to the world's fastest growing energy market.
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