BG Group: Supplies OK despite Egyptian problems

Jan. 29, 2014 at 7:37 AM   |   Comments

LONDON, Jan. 29 (UPI) -- British energy company BG Group said some of its natural gas customers won't feel the effects of a disruption of services from Egypt.

BG Group sent a statement Tuesday to the Platts energy news website saying Chilean consumers who rely heavily on liquefied natural gas from the British company won't be left short because of Egyptian problems.

BG Group declared force majeure Monday for its Egyptian operations, meaning it is unable to meet certain contractual obligations because of circumstances beyond its control.

"We do not envisage that [this] will affect our LNG supply commitments to Chile," the company told Platts.

Platts didn't report on the specific volume of LNG secured by Chilean consumers from BG operations in Egypt.

BG Group last year sold off some of its interest in a Chilean LNG terminal to a subsidiary of Spanish energy company Enagas. The British company said the Quintero LNG terminal has a 2.5 million ton per year capacity.

BG Group said Monday the Egyptian government hasn't honored agreements on the company's share of natural gas from Egyptian fields, saying diversions into the domestic market during the fourth quarter of 2013 were higher than expected.

© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Most Popular
Tony Hayward: Kurdish oil sector open for business Tony Hayward: Kurdish oil sector open for business
Pay up, Gazprom tells Ukraine Pay up, Gazprom tells Ukraine
Creator of 'Honey Badger Don't Care' brand sues for trademark infringement Creator of 'Honey Badger Don't Care' brand sues for trademark infringement
Rheinmetall, KBR in joint venture bid for British defense entity
Starbucks testing smaller Frappuccinos Starbucks testing smaller Frappuccinos
Trending News