LNG from BG Group's QCLNG project heading to Singapore
By CHOU HUI HONG
Bloomberg
The first tanker to ship LNG from BG Group Plc’s $20.4 billion project on Australia’s east coast is sailing to Singapore where it will dock Jan. 15.
The Methane Rita Andrea, owned by the London-based company, is carrying a cargo that will help meet the annual 3 million metric tons of LNG that the Energy Market Authority, the regulator in the Asian city-state, agreed in 2008 to import over 10 years from BG. It departed Australia’s Gladstone on Jan. 5, transmissions captured by IHS Fairplay on Bloomberg show.
BG’s Queensland Curtis LNG development is preparing to supply customers including China National Offshore Oil Corp. as tumbling oil prices threaten to erode the industry’s profits.
The project is the world’s first large-scale facility to turn coal-bed methane into LNG, according to its website. It’s the first of seven Australian LNG developments under construction to start production and will help put the nation on course to surpass Qatar later this decade as the world’s biggest exporter of the fuel, according to data compiled by Bloomberg.
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