Until Brindisi LNG is operational the production from Egyptian LNG Train 2, in which BG Group is a 38 per cent shareholder, will be supplied primarily to the Lake Charles LNG importation terminal in Louisiana, USA.
On 20 December 2004, Brindisi LNG SpA, a joint venture between BG Group and Enel, announced that the Engineering, Procurement and Construction (EPC) contract for the LNG importation terminal had been awarded to a consortium led by Tecnimont SpA and including Mitsubishi Heavy Industries Ltd, Grandi Lavori Fincosit SpA, Consorzio Cooperativa Costruttori, Sofregaz S.A and Vinci Construction Grands Projets SAS.
Speaking today, BG Group Executive Vice President Mediterranean Basin and Africa, Stuart Fysh, said: "This sale of LNG to Enel, together with the recent Brindisi LNG EPC contract award, represents a significant step forward in the development of the Brindisi LNG terminal and the importation of a new long term source of competitively priced natural gas to Italy. Brindisi is an important building block in the development of BG's strategic plans for LNG transportation and trading in the Atlantic Basin."
The Brindisi LNG terminal, which is strategically located to receive LNG from the Mediterranean and Atlantic Basin and from the Gulf states will be capable of processing 8 billion cubic meters - or 6 million tonnes - of natural gas per annum. It is scheduled to begin operating in 2008.
There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to the Company's annual report and accounts for the year ended 31 December 2003.
BG Group has been operating in Italy for over ten years and is active in the Exploration & Production and Power Generation sectors. To date, the Group has invested about 180 million euros in the country's energy sector. With Italian partners, BG Italia operates eight of the 14 exploration permits and applications in which it participates in the Po Valley and the Sicily Channel. BG Italia is a shareholder in Serene S.p.A., a joint venture company, which owns and operates approximately 400 megawatts of co-generation units located in five sites adjacent to Fiat Auto factories.
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