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BG Wins Queensland State Approval for LNG Project

June 25 (Bloomberg) -- BG Group Plc said it won approval for an Australian liquefied natural gas project that may cost A$15 billion ($13 billion) after the Queensland government completed a review of the environmental impact statement.

Australian federal government environmental approval is expected by about mid-year, QGC Pty Ltd., the Australian unit of BG Group, said in an e-mailed statement today. Production licenses, safety approvals and other environmental permits are required before construction can start, Brisbane-based QGC said.

BG, Santos Ltd. and Origin Energy Ltd. are among companies proposing to develop liquefied gas projects in Queensland converting coal-seam gas into the fuel for export to Asia. BG’s Queensland Curtis LNG venture will initially produce about 8.5 million metric tons of LNG a year and is expected to generate more than 5,000 jobs during construction.

A development decision will be considered “later this year subject to acceptable fiscal terms and environmental approvals,” Catherine Tanna, managing director or QGC, said in the statement. First exports are targeted for 2014, QGC said.

To contact the reporter on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net

To contact the editor responsible for this story: Jane Lee in Kuala Lumpur at jalee@bloomberg.net

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