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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.

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