18th Apr 2008 10:05
BG GROUP plc18 April 2008 News Release 18 April, 2008 BG Group selected by Singapore's Energy Market Authority to import LNG BG Group has been selected by the Energy Market Authority (EMA) of Singapore tosupply up to 3 million tonnes per annum (mtpa) of liquefied natural gas (LNG) tothe Singaporean market for a period of up to 20 years. Under a Memorandum of Agreement, signed today (April 18 2008), BG Group will actas the aggregator of LNG demand for Singaporean gas users. The Group will beresponsible for sourcing and supplying LNG from its growing and flexible globalportfolio. Initial deliveries are expected to begin in 2012 to coincide with thecompletion of the LNG import terminal which will be located on Jurong Island inSingapore. EMA had earlier designated PowerGas Ltd., a wholly owned subsidiaryof Singapore Power Ltd., to build, own and operate this facility. BG Group has developed a leading position in Atlantic Basin LNG. The Group isthe main supplier of LNG to the United States - the world's largest gas market.It is also the leading exporter of Atlantic Basin LNG to Asia Pacific markets.The Group has long-term purchase agreements in place with Equatorial Guinea LNG;Nigeria LNG; Egyptian LNG; and with Atlantic LNG in Trinidad and Tobago. It alsosupplies gas to Atlantic and Egyptian LNG as well as holding an equity stake inboth facilities. Additionally BG Group recently completed the formation of analliance with Queensland Gas Company Ltd to cooperate in the development of anew 3-4 mtpa liquefaction plant in eastern Australia. BG Group Executive Vice President and Managing Director, Americas and Global LNGMartin Houston said: "This agreement will underpin our commitment to supportSingapore's long-term energy goals. We look forward to deploying our globalmarket reach and expertise to meet the needs of Singaporean gas users. Theagreement - the first of its kind for BG Group in the Asia Pacific market -represents a very positive step forward both for Singapore and for BG." -ends- There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to the Company's annual report and accounts for the year ended 31 December 2007. TheCompany does not undertake any obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required. Notes to Editors: About BG Group BG Group plc (LSE: BG.L) is a world leader in natural gas, with a strategyfocused on connecting competitively-priced resources to specific, high-valuemarkets. Active in 27 countries on five continents, BG Group has a broadportfolio of exploration and production, Liquefied Natural Gas (LNG),transmission and distribution and power generation business interests. Itcombines a deep understanding of gas markets with an excellent track record infinding and commercialising reserves. About Energy Marketing Authority (EMA) EMA was established in the 2001 to forge a secure, long-term energy industrythat thrives on healthy competition. New market structures have been created topromote competition in the electricity and piped gas industries. In January2003, the National Electricity Market of Singapore commenced operation. In May2007, the Gas (Amendment) Bill was passed, opening access to the gas sector. EMAwill also continue to achieve cost competitive outcomes for consumers byensuring a level playing field within the energy industry Enquiries: Communications: +44 (0) 118 929 3717 Out of hours media mobile: +44 (0) 791 718 5707 Investor Relations: +44 (0) 118 929 3025 Website: www.bg-group.com - ends - This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BG..L