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BG Group to provide LNG to Hong Kong

BG Group to provide LNG to Hong Kong

Hong Kong: Hong Kong's first LNG import project has started to move. BG Group of Britain recently disclosed that its subsidiary, BG LNG Trading, has reached a basic agreement on LNG sales/purchase with Castle Peak Power Co of Hong Kong. BG plans to provide LNG from LNG export projects in which it owns rights/interests. As for necessary LNG carriers, BG will likely assign them from the ships it controls.
BG will provide 1 million tons of LNG annually to an LNG import base in Hong Kong, which Castle plans to construct. LNG will be provided for a maximum period of 20 years. BG will start providing LNG immediately after the completion of the import base. The first LNG shipment is expected to be made in 2013. [30/6/08]

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