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Last Updated: Monday, 3 April 2006, 08:29 GMT 09:29 UK
Liquefied natural gas boosts BG
BG Group platform
BG is the former exploration arm of British Gas
UK energy exploration firm BG Group has experienced a strong performance at its liquefied natural gas (LNG) arm in the first quarter of the year.

BG said its LNG unit would report a first-quarter operating profit of at least 130m ($226m).

LNG is gas cooled to liquid so that it can be shipped in pressurised tankers across distances too large to be economically connected by pipelines.

Recent speculation has linked BG with a possible bid offer from Exxon Mobil.

"The LNG shipping and marketing business managed 40 cargoes in the quarter, of which approximately two thirds were sold into markets outside of the United States," BG said in a statement.

"This is due to very strong seasonal demand and higher realised prices in Japan and Europe."

BG, the former exploration and production arm of British Gas, is due to report first-quarter results on 3 May.


SEE ALSO:
Oil price helps BG double profit
09 Feb 06 |  Business
Energy prices boost for BG Group
08 Nov 05 |  Business
Energy price rises boost BG Group
15 Feb 05 |  Business
BG expands Egyptian gas interest
06 Sep 04 |  Business
Output rise fires up BG profits
11 May 04 |  Business
BG pays 1m for ex-chief's office
08 Apr 04 |  Business


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