BG hires Goldman to analyse possible asset sales

Oil and natural gas producer BG Group has hired Goldman Sachs Group to help it analyse the options available to it for selling part of the infrastructure linked to its Australian liquefied natural gas project, said two people with knowledge of the matter, Bloomberg reports.

Oil and natural gas producer BG Group has hired Goldman Sachs Group to help it analyse the options available to it for selling part of the infrastructure linked to its Australian liquefied natural gas project, said two people with knowledge of the matter, Bloomberg reports.

The infrastructure assets around its plant on Curtis Island, in Queensland state, include a 540-kilometer (336-mile) pipeline to carry coal seam gas from Surat Basin to the processing plant.

The energy outfit is known to be seeking to raise $8.1bn in funds via asset sales to help fund its investment plans.

To be had in account, BG is facing significant cost inflation at the above plant, where it still plans to build two processing units, due to the rise in the Australian dollar and increasing labour costs. The total cost of the project, which will have a combined processing capacity of 8.5m metric tons of LNG a year, is now forecast to reach $20.4bn, a 36% increase.

AB

Recommended

Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021
Royal Mail will deliver for investors – here's how to play it
Trading

Royal Mail will deliver for investors – here's how to play it

Royal Mail Group has found its feet in the past 18 months and looks cheap. Matthew Partridge looks at how to trade the shares.
14 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021

Most Popular

The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021
Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
Should investors be worried about stagflation?
US Economy

Should investors be worried about stagflation?

The latest US employment data has raised the ugly spectre of “stagflation” – weak growth and high inflation. John Stepek looks at what’s going on and …
6 Sep 2021