Bg Group Information
BG Group plc (LSE: BG.) is a British multinational oil and gas company headquartered in Reading, United Kingdom.[2][3] It has operations in 25 countries across Africa, Asia, Australasia, Europe, North America and South America and produces around 680,000 barrels of oil equivalent per day.[4][5] It has a major Liquefied Natural Gas (LNG) business and is the largest supplier of LNG to the United States.[6] As at 31 December 2009 it had total proven commercial reserves of 2.6 billion barrels (410,000,000 m3) of oil equivalent.[7]
BG Group is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. As of December 2011, it was the 8th largest company on the FTSE, with a market capitalisation of £45.7 billion.[8]
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History
Origins
The company was created in 1997 when British Gas plc divested Centrica[9] and became BG plc, which was reorganised in 1999 as BG Group plc.[10]
2000 to present
On 23 October 2000, a further demerger separated the company into Lattice Group and BG Group.[10] Lattice took ownership of Transco (the gas transporter for the UK), Advantica (gas engineering and consultancy specialist) along with the property and transport companies and BG Group took ownership of gas fields and other assets.[10] In 2002, Lattice merged with National Grid Company to become National Grid Transco which was renamed National Grid in 2005.[10]
In September 2007, BG Group delisted its ADRs from the New York Stock Exchange after expressing concerns over the tougher rules and high costs associated with the Sarbanes-Oxley Act.[11] Instead its shares began trading on the US over-the-counter market known as the Pink Sheets "International Premier QX".[12]
In June 2008 BG Group launched a US$13.1 billion hostile and ultimately unsuccessful bid to acquire Origin Energy, Australia's largest coal-seam gas producer: BG Group were out-manoeuvred by ConocoPhillips who offered to invest US$9.1 billion in a joint venture with Origin.[13] In October 2008 BG Group agreed to buy Queensland Gas for US$3.4bn so enabling it to operate in Asia's liquified natural gas market.[14]
On 1 November 2010, BG Group Announced plans to invest £9.3bn on the world's first project to liquefy and ship gas produced from coal deposits. This will be the first in a series of "coal seam methane" projects in the region of eastern Australia and will be operational by 2014. BG Group will construct a 540 km underground pipeline in Queensland which will transport gas producing coal deposits to a terminal in Gladstone on the east coast.[15] In October 2011 BG Group signed an US$8 billion deal with Cheniere Energy to export liquefied natural gas from the United States.[16][17]
Operations
The former President of Brazil Lula da Silva posing with the team responsible for the hypothetical discovery in the pre-salt area of the Tupi oil field. BG Group Place in Houston, United States, the North American headquarters of BG Group.BG Group's main business is exploration for and the extraction of natural gas, liquefied natural gas and to a lesser extent oil. It sells these products to wholesale customers such as retail gas suppliers and electricity generating companies. It also owns some gas pipelines and is involved in some power generation projects. It is active around the world, with only a minority of its business being in the UK. BG Group is a multinational company with operations in 27 countries. Key areas for the company include:[18]
- Australia
- QGC
- Brazil
- Egypt
- Operates the Rosetta and West Delta Deep Marine gas fields, LNG export
- India
- Interest in the Panna, Mukta and Tapti fields, Gujarat Gas Company and the Mhanagar Gas Company (gas distribution)
- Kazakhstan
- Interest in the Karachaganak gas field
- Norway
- Exploration licences with several discoveries
- Thailand
- Interest in the Bongkot gas field
- Trinidad & Tobago
- NCMA gas fields, Dplphin gas field, LNG export
- Tunisia
- Operates the Miskar gasfield
- UK
- USA
- Interest in LNG Terminals, shale gas joint venture operation in the Haynesville and Marcellus plays
As of 31 December 2009 BG had proven reserves of 11,181×10^9 cu ft (3.166×1011 m3) of natural gas and 736 million barrels of oil and condensate. Annual production in 2009 was 234.9 million barrels of oil equivalent (mmboe)
Senior management
Sir Frank Chapman was appointed Chief Executive of the BG Group in October 2000. His remuneration for this role in 2008 consisted of £1,081,588 base salary and a £1,944,000 bonus.[19]
References
- ^ a b c "Annual Report 2010" (PDF). http://www.bg-group.com/InvestorRelations/Reports/ara2010/Documents/1.%20Annual%20Report%20and%20Accounts%202010/BG_AR10_Full.pdf. Retrieved 18 April 2011.
- ^ "General contacts." BG Group. Retrieved on 5 November 2010. "Address: BG Group plc Thames Valley Park, Reading, Berkshire, RG6 1PT United Kingdom"
- ^ "Directions to BG Reading." BG Group. Retrieved on 5 November 2010. PDF Map.
- ^ "BG Group Profile". BG Group plc. http://www.bg-group.com/AboutBG/Pages/BGProfile.aspx. Retrieved 24 August 2010.
- ^ "2010 Second Quarter & Half Year Results". BG Group plc. http://www.bg-group.com/InvestorRelations/Results/Documents/2010/BG_Q2_2010.pdf. Retrieved 31 August 2010.
- ^ "Liquefied Natural Gas – an enabling technology". BG Group plc. http://www.bg-group.com/OurBusiness/OurBusiness/Pages/LNG.aspx. Retrieved 31 August 2010.
- ^ "Annual Report and Accounts 2009". BG Group plc. http://www.bg-group.com/InvestorRelations/Reports/ara2009/Downloads/Annual%20Report%20and%20Accounts%202009/ara2009full.pdf. Retrieved 9 November 2010.
- ^ "FTSE All-Share Index Ranking". stockchallenge.co.uk. http://www.stockchallenge.co.uk/ftse.php. Retrieved 26 December 2011.
- ^ British Gas to split in February 1997
- ^ a b c d "Competition Commission Report Page 313" (PDF). http://www.competition-commission.org.uk/rep_pub/reports/2003/fulltext/480glossary.pdf. Retrieved 18 April 2011.
- ^ "Sarbos strikes again: BG to delist from NYSE". Itbusinessedge.com. http://www.itbusinessedge.com/item/?ci=31610. Retrieved 18 April 2011.
- ^ "Pink Sheets Press Release (25 September 2007): BG Group plc Joins International OTCQX". Findarticles.com. http://findarticles.com/p/articles/mi_pwwi/is_200709/ai_n20516761/print?tag=artBody;col1. Retrieved 18 April 2011.
- ^ "BG Group admits defeat in bid for Origin". International Herald Tribune. 29 March 2009. http://www.iht.com/articles/2008/09/09/business/energy.php. Retrieved 18 April 2011.
- ^ "BG Group to buy Queensland Gas for $3.4bn". International Herald Tribune. 28 October 2008. http://www.iht.com/articles/2008/10/28/business/28bg.php. Retrieved 18 April 2011.
- ^ "BG invests £9.3bn in first of its kind LNG project". Added latest project details. http://www.newstatesman.com/energy-and-clean-tech/2010/11/coal-deposits-gas-project-oil. Retrieved 16 November 2010.
- ^ "BG Group signs 'ground-breaking' $8bn gas deal with US". The Telegraph. 26 Oct 2011. http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/8851312/BG-Group-signs-ground-breaking-8bn-gas-deal-with-US.html. Retrieved 2 November 2011.
- ^ "Cheniere and BG ink $8 bln deal to export US LNG". Reuters. 26 Oct 2011. http://www.reuters.com/article/2011/10/26/lng-cheniere-idUSN1E79P0N120111026. Retrieved 2 November 2011.
- ^ "Data Book 2010". Bg-group.com. http://www.bg-group.com/InvestorRelations/Reports/db2010/Pages/default.aspx. Retrieved 18 April 2011.
- ^ "Remuneration report". Annual Report & Accounts 2008. BG Group. http://bgara.blacksunplc.com/ara/report_corp_gov/directors_remuneration.html. Retrieved 23 August 2009.
External links
| Companies portal | |
| Energy portal | |
| Berkshire portal |
- Official website
- Dividend history
- Yahoo! profile
- BG news monitoring from Google Finance
- BG stock performance chart from BigCharts
- BG Energy Challenge
- Graphical illustration of the demerger history of British Gas
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Categories:
- Companies listed on the London Stock Exchange
- Companies established in 1997
- Oil and gas companies of the United Kingdom
- Companies delisted from the New York Stock Exchange
- Companies based in Reading, Berkshire
- 1997 establishments in the United Kingdom
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