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Monday, May 13, 12:52 PM The U.K.’s BG Group (BRGYY.PK, BRGXF.PK) unveils a $16B plan to export the equivalent of one-quarter of Canada’s current daily natural gas production from a British Columbia terminal starting in 2021. BG's proposal to export up to 3.3B cu. ft./day of gas from a new terminal on B.C.'s Ridley Island brings to 10 the number of projects in varying stages of development. Comment! [Energy]
Monday, May 6, 8:46 AM BG Group (BRGYY.PK) signs a binding $1.93B agreement with Cnooc (CEO) to supply liquefied natural gas and for an equity stake in BG's Queensland Curtis LNG project in Australia. BG says it has total committed volumes to China of 8.6M tons/year, which would make it the largest supplier of LNG to China. Comment! [Energy, Global & FX]
Wednesday, March 20, 3:56 PM BG Group (BRGYY.PK) completes its first substantial agreement for the long-term sale of liquefied natural gas to India, to supply as much as 2.5M metric tons a year of LNG via a 20-year contract analysts estimate could be worth ~$20B. BG's recent East African discoveries are well placed to serve energy demand in India, one of the world's most rapidly growing energy markets. Comment! [Energy, Global & FX]
Monday, March 18, 3:28 PM Statoil (STO) and BG Group say they will team up to jointly develop a $10B liquefied natural gas terminal in Tanzania to exploit their respective gas discoveries offshore. BG says testing on its Jodari-1 field showed better-than-expected reservoir properties, demonstrating wells could produce at higher rates. STO's latest find takes recoverable volumes to 10T-13T cu. ft. in its operated block. Comment! [Energy, Global & FX]
Friday, February 15, 9:56 AM Natural gas firm BG Group (BRGYY.PK, BRGXF.PK) agrees to sell all its interests in the shallow, non-core, conventional producing assets and acreage in the Cotton Valley formation in east Texas and north Louisiana to Exco Resources (XCO -0.5%) for $132.5M. 2 Comments [Energy]
Tuesday, January 22, 9:57 AM BG Group's (BRGYY.PK) valuation falling by half in less than two years is making it vulnerable to a takeover, Bloomberg speculates. BG has stakes in oilfields off Brazil and expanding gas projects from Canada to Australia; some analysts say XOM could be lured to BG to help fuel growth as its production drops, or BP could seek a combination with BG to challenge Shell as Europe's largest oil company. Comment! [Energy, M&A]
Monday, December 31, 2012, 6:23 AM BG Group (BRGXF.PK +0.4% in London) has obtained a $1.8B loan from the Export-Import Bank of the United States, money that the U.K. company will use to support the export of U.S. services and help finance an LNG project in Australia. The funding is the latest that BG has secured from government lenders, including from the Brazilian Development Bank and Export Development Canada. (PR) Comment! [Energy]
Thursday, December 13, 2012, 8:41 AM BG Group (BRGXF.PK, [[BRGYY.PK)]] names Chris Finlayson, head of its exploration strategy and technology unit, as CEO, completing a year-long search. Finlayson succeeds Sir Frank Chapman, who has been receiving treatment for cancer since June; in Chapman's dozen years running BG, the company expanded its resource base from 1.2B boe to 17B. Comment! [Energy]
Monday, December 10, 2012, 9:48 AM Cnooc (CEO +0.5%) raises its production outside China to one-third from one-sixth, as its takeover of Nexen (NXY +14.4%) brings assets from the North Sea, Gulf of Mexico and Nigeria. CEO and Sinopec (SNP) may be encouraged to pursue ambitious deals elsewhere, with Talisman, Tullow and BG Group among possible targets. But considering Exxon Mobil's (XOM) lost luster, bigger may not mean better. Comment! [Energy, Global & FX]
Wednesday, October 31, 2012, 10:43 AM BG Group agrees to sell an additional 40% interest in the first production train of its Queensland liquefied natural gas project to Cnooc (CEO) for $1.93B, giving the Chinese company a half-share in the facility. But BG shares -15% in London trading after saying 2012 production growth would be just 3% and its output wouldn't grow as expected in 2013. Comment! [Energy, M&A, Global & FX]
Wednesday, October 31, 2012, 5:45 AM Total (TOT): Q3 adjusted net profit +20% to €3.35B. Actual net profit -7.5% to €3.07B vs consensus of €3.1B, with earnings hurt by €800M impairment mainly related to U.S. shale gas assets. Revenue +8% to €49.9B. Output 2.27M bpd of oil equivalent vs 2.32M bpd last year. On track to sell $15B-$20B of assets in the coming years, with proceeds reaching $5B so far. (PR) Comment! [Energy, M&A]
Wednesday, October 31, 2012, 5:22 AM CNOOC (CEO) signs a Heads of Agreement with the U.K.'s BG Group to acquire certain interests in the Queensland Curtis LNG, QCLNG, project in Australia for $1.93B. CNOOC will also buy 5M tons of LNG a year from BG for 20 years starting in 2015, and the companies will jointly invest in the building of two LNG ships in China. Comment! [Energy, M&A]
Wednesday, October 24, 2012, 2:52 PM UBS analysts forecast a 16% drop in Q3 earnings Y/Y for U.S. integrated oil companies and a 6% slide for European firms, "unlikely to be a source of renewed optimism although equally we detect no great expectations among investors." Top European picks include BG Group, Eni (E) and Statoil (STO); in the U.S., the firm prefers Chevron (CVX) over Exxon (XOM). Comment! [Energy, Global & FX, Quick Ideas]
Monday, September 10, 2012, 5:52 PM Spectra Energy (SE) says it's teaming with BG Group on plans to build a new 525-mile natural gas pipeline system in British Columbia to take as much as 4.2B cubic feet/day of gas from the province's gas fields to a proposed LNG-export facility. SE does not yet have a firm capital budget for the project, but it could cost as much as $8.2B. Comment! [Energy]
Thursday, August 30, 2012, 11:32 AM Shell (RDS.A, RDS.B), BG Group (BRGYY.PK) and Total (TOT) ponder scaling back projects to build liquefied natural gas export plants in Australia and switching to Tanzania and Mozambique, where new prospects would cost about half as much. Any switch to East Africa would hold back Australia’s market share in China and India, where energy consumption is forecast to rise 60%-plus by 2030. Comment! [Energy, Global & FX]
Wednesday, June 20, 2012, 12:58 PM If BP is not welcomed back to the deepwater Gulf of Mexico and onshore shale is not high-margin enough, where else can it put big money to work effectively? The answer could be in M&A, a Reuters analysis suggests, pointing to gas-focused E&P company BG Group (BRGYY.PK) - with plenty of projects to pursue, but not enough funds - as an excellent fit. 7 Comments [Energy, M&A, Quick Ideas]

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