BG’s LNG numbers rise in 2015

UK-based BG Group said on Wednesday it delivered 282 cargoes of liquefied natural gas last year, a rise of 58 percent as compared to 178 cargoes delivered in 2014.

In total, BG shipped 17.9 million tonnes of LNG to its customers in 2015, as compared to 11 million tonnes of chilled gas the company delivered a year before, BG said in its trading update.

Increased supply was driven by 77 cargoes from the QCLNG project in Australia and 31 additional spot cargoes. Of the 282 cargoes, 209 were supplied to Asian markets.

“Our excellent operational performance in 2015 is expected to deliver results in line with, or ahead of, our guidance for the year. Ramp up of both LNG trains at our QCLNG project in Australia and the start-up of our sixth FPSO in Brazil drove a strong E&P operational performance while our LNG Shipping & Marketing business delivered 282 cargoes, an increase of 58% on 2014, in difficult market conditions,” Helge Lund, BG’s Chief Executive said.

BG said it expects LNG Shipping & Marketing EBITDA of at least $1.4 billion, in line with guidance of around the middle of the $1.3-1.5 billion range.

Full year E&P production volumes are expected to average 704 kboed in 2015, around 16% higher than 2014 reflecting growth primarily in Australia, Brazil and Norway, the company added.

Shell-BG merger

BG’s shareholders vote on the proposed multi-billion merger with oil and gas giant Shell is scheduled to take place on January 28.

LNG World News created a poll for our readers to give their opinion on how they think the shareholders will vote on the proposed merger as this would be the final step in approving the giant deal. Cast your vote here.

LNG World News Staff