BG Group
BG Group plc was a British multinational oil and gas company headquartered in Reading, United Kingdom. It has operations in 25 countries across Africa, Asia, Australasia, Europe, North America and South America and produces around 680,000 barrels of oil equivalent per day. It has a major Liquefied Natural Gas (LNG) business and is the largest supplier of LNG to the United States. As at 31 December 2009 it had total proven commercial reserves of 2.6 billion barrels (410,000,000 m3) of oil equivalent.
BG Group is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. As of 6 July 2012 it had a market capitalisation of £44.9 billion.
On February 14, 2016,Royal Dutch Shell acquired BG Group for $70 billion.
History
Origins
The company was created in 1997 when British Gas plc divested Centrica and became BG plc, which was reorganised in 1999 as BG Group plc.
2000 to present
On 23 October 2000, a further demerger separated the company into Lattice Group and BG Group. Lattice took ownership of Transco (the gas transporter for the UK), Advantica (gas engineering and consultancy specialist) along with the property and transport companies and BG Group took ownership of gas fields and other assets. In 2002, Lattice merged with National Grid Company to become National Grid Transco which was renamed National Grid in 2005.
