Qclng Pipeline Pty Ltd News

BG Group Sells Australian Pipeline for $5b

BG Group plc has agreed to sell its wholly-owned subsidiary QCLNG Pipeline Pty Ltd to APA Group, Australia's largest gas infrastructure business, for approximately $5 billion. QCLNG Pipeline Pty Ltd owns a 543 kilometer, large-diameter underground pipeline network linking BG Group's natural gas fields in southern Queensland to a two-train liquefied natural gas (LNG) export facility at Gladstone on Australia's east coast. The sale of this non-core infrastructure is consistent with BG Group's strategy of actively managing its global asset portfolio, the company said. The pipeline was constructed between 2011 and 2014 and has a current book value of $1.6 billion.