BG eyes sale of QCLNG stake

Private talks: BG has reportedly held talks with CIC over the sale of an equity stake in the Queensland Curtis LNG project

SCANPIX/AP

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News Wires

 27 April 2012 05:19 GMT

BG Group has held talks with China Investment Corporation (CIC) on the sale of an equity stake in the British company’s Australian liquefied natural gas facilities, according to reports.

BG and CIC started discussions about two months ago, Reuters reported citing an unnamed source, although it was not clear whether the $410 billion sovereign wealth fund's interest was still active.

The first round of bids is due in early June, Reuters quoted sources familiar with the matter as saying.

Others in the fray include China National Offshore Oil Coroporation (CNOOC), which owns a 5% stake in the project, Osaka Gas, Tokyo Gas, Mitsui, Marubeni,and Qatar Petroleum, Reuters reported its sources saying. Reuters said it sources declined to be identified as the talks…

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