BG’s LNG deliveries climb

LNG player BG Group has delivered 2.70 million tonnes of liquefied natural gas, or 44 cargoes, in the third quarter, a rise of 1 percent compared to the same period last year.

In the first nine months of this year, BG delivered 8.25 million tonnes of LNG, or 134 cargoes, up by 2 percent as compared to 2013.

BG’s LNG total operating profit was down 4 percent to $576 million in the third quarter, mainly due to the higher cost of spot cargo purchases, the company said in a report on Tuesday.

BG’s interim Executive Chairman, Andrew Gould said: “We have made good progress with our key projects in the quarter and delivered a solid set of results. Earlier this month, we appointed a new Chief Executive, Helge Lund. Helge’s track record in building a world class exploration and production portfolio speaks for itself, and we believe we have the best person in the international oil and gas market to lead BG Group in its next phase of growth.

“Our developments in Brazil and Australia are progressing well and, in the case of Brazil, beginning to have a material impact on our business. Reaching net production of over 100 kboed from our Brazil assets is a major achievement, and to do it so swiftly after first commercial production in 2010 reflects the quality and the scale of our interests there.

“In Australia, the Queensland Curtis LNG project is on target to export its first LNG cargo by the end of the year, which will add volumes and flexibility to the company’s global LNG portfolio.”

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