BG Group

All you want to know about BG Group

BG Group plc

Type	Public (LSE: BG Group, Pink Sheets: BG Group)
Founded	1997 Demerger of Centrica 2000 Demerger of Latice Group from BG Group
Headquarters	Reading, England, UK
Key people	Sir Robert Wilson, Chairman Frank Chapman, CEO
Industry	Oil Production Natural Gas Companies
Products	Oil Natural Gas
Revenue	£8,291 million (2007)
Operating income	£3,001 million (2007)
Net income	£1,800 million (2007)
Employees	circa 5,000
Website	www.bg-group.com

BG Group Plc (LSE: BG.) is an integrated oil and gas company which has its headquarters in Reading, England. BG Group has use of the trading name "British Gas" outside the United Kingdom; Centrica owns the rights to use it within the UK. The Company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

1 History
2 Operations
3 References
4 External links

History

The company was created in 1997 when British Gas plc divested Centrica^[1] and became BG plc, which was reorganised in 1999 as BG Group plc.^[2]

In 2000 a further demerger separated the company into Lattice Group plc and BG Group.^[2] Lattice took ownership of Transco (the gas transporter for the UK), Advantica (gas engineering and consultancy specialist) along with the property and transport companies and BG Group took ownership of gas fields and other assets.^[2]

In 2002 Lattice merged with National Grid Company to become National Grid Transco which was renamed National Grid in 2005.^[2]

In September 2007 BG Group delisted its ADRs from the New York Stock Exchange after expressing concerns over the tougher rules and high costs associated with the Sarbanes-Oxley Act.^[3] Instead its shares began trading on the US over-the-counter market known as the Pink Sheets "International Premier QX".^[4]

In June 2008 BG Group launched a US$13.1 billion hostile and ultimately unsuccessful bid to acquire Origin Energy, Australia's largest coal-seam gas producer: BG Group were out-manoeuvered by ConocoPhillips who offered to invest US$9.1 billion in a joint venture with Origin.^[5]

In October 2008 BG Group agreed to buy Queensland Gas for US$3.4bn so enabling it to operate in Asia's liquified natural gas market.^[6]

Operations

BG Group's main business is exploration for and the extraction of natural gas, liquefied natural gas and to a lesser extent oil. It sells these products to wholesale customers such as retail gas suppliers and electricity generating companies. It also owns some gas pipelines and is involved in some power generation projects. It is active around the world, with only a minority of its business being in the UK. BG Group is a multinational company with operations in 27 countries. Key areas for the company include: