Australia: BG May Sell QCLNG Stake

BG Group is considering the sale of a stake in the Queensland Curtis LNG project in Australia, Reuters reported, citing unnamed sources.

BG may sell between 15 and 20 percent of the QCLNG project and could raise up to $2 billion from the sale.

QCLNG project involves expanding exploration and development in southern and central Queensland and transporting gas through a 540km underground pipeline network to Curtis Island near Gladstone where it will be liquefied.

The project’s first stage will comprise two LNG trains, at the Curtis Island plant. These trains, which have a design life of at least 20 years, will produce a combined 8.5 million tonnes of LNG a year.

The site can accommodate an expansion to 12 million tonnes of LNG a year.

[mappress]

LNG World News Staff, March 7, 2012; Image: QGC