BG Group finalizes QCLNG pipeline sale

BG Group completed the sale of its wholly-owned 543km pipeline network linking natural gas fields and the Queensland Curtis Liquefied Natural Gas (QCLNG) export facility to APA Group.

This transaction has resulted in gross proceeds for BG Group of around US$4.6 billion. The proceeds reflect indexation movements to the long term tariff payable since the transaction announcement on 10 December 2014, and are in line with the US$4.5-5 billion range provided in 1Q 2015. 

Tariffs payable on the pipeline are set to provide a fixed rate of return on the asset base with the primary tariff components escalating annually with US inflation indices. On an annualized basis, the full pipeline tariff is approximately $360 million. 

The sale proceeds will be used to reduce net debt and to fund future growth investment. 

Image: pipeline/BG Group

Current News

Seequent Receives Award at Global Offshore Wind 2025, Hosts Upcoming Webinar

Seequent Receives Award at Glo

Libya Blocks Greek Tender for Hydrocarbon Exploration Off Crete

Libya Blocks Greek Tender for

Russia Looks to Myanmar Offshore Oil and Gas Prospects

Russia Looks to Myanmar Offsho

TotalEnergies’ Offshore Platform Workers in UK Secure Better Conditions

TotalEnergies’ Offshore Platfo

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine