BG Group announced that operational control of Train 1 at its Queensland Curtis LNG plant has been formally transferred to QGC, BG Group's Australian subsidiary, from Bechtel Australia, which constructed the facility.
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QCLNG. Image from BG. |
In addition, approval for the sale of its QCLNG gas pipeline has been received from BG Group's Train 1 equity partner, the China National Offshore Oil Co. (CNOOC). As a result, the preconditions for sale of the QCLNG pipeline to APA Group have been satisfied in full. The sale of the pipeline remains on track for completion in 2Q 2015.
The transfer of operational control of Train 1 marks the start of commercial operations at QCLNG. First production from Train 1 occurred in December 2014, with 16 cargoes shipped to date.
QCLNG’s Train 2 is currently under construction, and is expected to start operations in 3Q 2015.
“We are pleased to be taking operational control of QCLNG following its successful start-up and commissioning over the past six months. The cargoes from Train 1, along with those from Train 2 when it starts up later this year, will add flexibility to BG Group’s LNG portfolio. The transfer of operational control, and CNOOC’s approval, have also progressed our pipeline disposal, which we expect to complete in the coming weeks," Helge Lund, BG Group chief executive said.
BG Group holds around 74% equity interest in the upstream resource and related infrastructure supplying QCLNG; and 100% of the project's common facilities on Curtis Island (including LNG storage tanks and jetty).
BG Group agreed to sell its 100% equity interest in the 540km pipeline to APA Group for US$4.5-5 billion.
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