17th Jun 2005 11:00
BG GROUP plc17 June 2005 MediaInformation 17 June 2005 BG Group to assume 100 percent of Brindisi LNG SpA BG Group today announced that it has agreed to acquire sole ownership ofBrindisi LNG SpA, the company developing the 8 billion cubic metre per annum(bcma) LNG regasification terminal on the south east coast of Italy. BG Group isacquiring the additional interest from Enel for a cash consideration of €17million, plus a deferred, contingent sum of approximately €27 million.Completion of the transfer of Enel's shareholding is expected to take place bythe end of June. The sale of 3.2 bcma of LNG by BG Group to Enel was conditional on Enel'sparticipation in the Brindisi regasification terminal and this agreement nowfalls away. This supply reverts to BG Group and is available to be marketed inItaly through the Group's enhanced regasification capacity position. Speaking today, BG Group Executive Vice President for the Mediterranean Basinand Africa, Stuart Fysh said: 'Brindisi LNG, which is part of BG's AtlanticBasin strategy, will bring major new investment to southern Italy. It willdeliver a new and competitive energy supply to Italy and will also bringsignificant development to the economy of the region.' BG Group is encouraged by the strong support of the Italian Government. Siteworks have begun at the Brindisi LNG terminal, which is scheduled to commenceoperations in the second half of 2008. There are matters discussed in this media information that are forward lookingstatements. Such statements are only predictions and actual events or resultsmay differ materially. For a discussion of important factors which could causeactual results to differ from the forward looking statements, refer to theCompany's annual report and accounts for the year ended 31 December 2004. Notes to Editors: BG Group has been operating in Italy for over ten years and is active in theExploration & Production and Power Generation sectors. To date, the Group hasinvested about €180 million in the country's energy sector. With Italianpartners, BG Italia operates eight of the 14 exploration permits andapplications in which it participates in the Po Valley and the Sicily Channel.BG Italia is a shareholder in Serene S.p.A., a joint venture company, which ownsand operates approximately 400 megawatts of co-generation units located in fivesites adjacent to Fiat Auto factories. BG Group is a global natural gas business. Active on five continents in over 20countries, it operates four business segments - Exploration and Production, LNG,Transmission and Distribution and Power. 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:
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