BG – which holds about 74% equity interest in the upstream resource and related infrastructure company QCLNG and 100% of the project’s common facilities on Curtis Island including LNG storage tanks and jetty – said yesterday the sale of the pipeline remained on track for completion in the second quarter of this year.
The UK major agreed to sell its 100% equity interest in the 540km pipeline to APA Group for $US4.5-5 billion.
The transfer of operational control of Train 1 marks the start of commercial operations at QCLNG. Train 1 started producing in December 2014, with 16 cargoes shipped to date.
QCLNG’s Train 2 is currently under construction, and is expected to start operations in the third quarter of 2015.
BG Group CEO Helge Lund said the UK major was happy to be taking operational control of QCLNG following its successful start-up and commissioning over the past six months.
“I would like to thank our partners Bechtel for building this world-first facility and helping to establish the LNG industry on the east coast of Australia,” he said.
“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."
