BG Group (LSE:BG.)
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5 Years : From Apr 2012 to Apr 2017
BG GROUP PLC (BG.LN), the natural gas company, said Thursday that it has reached agreement with Sabine Pass Liquefaction, LLC, a subsidiary of Cheniere Energy Partners LP, to buy another 2 million tons of liquefied natural gas, or LNG, over a 20-year period from the Sabine Pass terminal in Louisiana, U.S.A.
-Additional volumes associated with Thursday's announcement have been incorporated into a previous sale and purchase agreement with Sabine announced last year.
-Construction of liquefaction facilities at Sabine Pass is scheduled to begin in 2012, with an initial phase of two LNG trains; construction of second phase expected to start in 2013.
-Exports from the initial phase to start as early as 2015 and for the second phase from as early as 2017.
-BG Group is also pursuing an expansion of the Lake Charles LNG terminal, in Louisiana, U.S.A, to provide natural gas liquefaction services.
-The U.S. Department of Energy has authorized the terminal to export up to 730 billion cubic feet of natural gas per year to countries that have a free trade agreement in place with the U.S.A.
-The DOE is reviewing an application to export natural gas from the Lake Charles LNG terminal to countries that do not have a free trade agreement with the U.S.A.
-Shares at 1353 GMT, up 13 pence, or 0.9%, at 1,471 pence valuing the company at GBP49.51 billion.
-By Rory Gallivan, Dow Jones Newswires; 44-20-7842-9411; email@example.com