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

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