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Trading statements

BG Group 'excellent operational performance'

20 January 2016 07:32

BG Group reports an excellent operational performance in 2015 and expects to deliver results in line with, or ahead of, its guidance for the year.

Chief executive Helge Lund said: "Ramp up of both LNG trains at our QCLNG project in Australia and the start-up of our sixth FPSO in Brazil drove a strong E&P operational performance while our LNG Shipping & Marketing business delivered 282 cargoes, an increase of 58% on 2014, in difficult market conditions." Currently, BG Group expects to report for the full year 2015:

· Average E&P production volumes of 704 thousand barrels of oil equivalent per day (kboed), ahead of guidance of 680-700 kboed;

· Upstream EBITDA1 of at least USD4.1 billion;

· LNG Shipping & Marketing EBITDA1 of at least USD1.4 billion, in line with guidance of around the middle of the USD1.3-1.5 billion range;

· Business Performance earnings of around USD1.7 billion;

· Total results earnings of at least USD2.3 billion, which are expected to include a post-tax gain of at least USD0.6 billion in respect of disposals, re-measurements and impairments;

· Net cash flow from operating activities of around USD4.3 billion; and

· Capital investment on a cash basis of around USD6.4 billion, lower than guidance of around USD6.5 billion.

Story provided by StockMarketWire.com

Related Company: BG.

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