Published on 10th September 2013
Integrated natural gas company BG Group’s decision to cut its guidance was due to geopolitical factors – in Egypt – and technical factors – in Norway. Nevertheless, the third reason behind that lower forecast - its decision to reduce the number of rigs operating in North America, is sensible. All in all that is the normal reshuffling one would expect from a group of BG’s size and with such diverse assets. In fact, the two real drivers for growth remain unaffected. The Queensland liquified natural gas refinery is on schedule and the huge Santos Basin, off Brazil, is progressing and this year BG announced ten more licenses at the Barreirinhas Basin.