July 23, 2016 8:27 PM ET

Oil, Gas and Consumable Fuels

Company Overview of BG Group Limited

Company Overview

BG Group Limited operates as an exploration and production, and liquefied natural gas (LNG) company worldwide. Its Upstream segment engages in the exploration, development, production, liquefaction, and marketing of hydrocarbons. This segment has proved and probable reserves of 6,525 million barrels of oil equivalent. The company’s LNG Shipping & Marketing segment is involved in the purchase, shipping, marketing, and sale of LNG and regasified natural gas. This segment has a fleet of 25 owned and leased LNG carriers. It is also involved in gas transmission and distribution activities. The company was founded in 1997 and is headquartered in Reading, United Kingdom. As of February 15, 2016, BG...

100 Thames Valley Park Drive

Reading,  RG6 1PT

United Kingdom

Founded in 1997

Phone:

44 11 8935 3222

Fax:

44 11 8935 3484

Key Executives for BG Group Limited

Transitional Chief Executive Officer
Chief Operating Officer, Executive Vice President, Managing Director of Africa, Central & South Asia, Member of Investment Committee, Member of Exploration & Appraisal Committee and Member of Risk Management Committee
Age: 51
Executive Vice President of Policy & Corporate Affairs and Member of Exploration & Appraisal Committee
Age: 62
Senior Vice President of COO Office
Age: 52
Executive Vice President of Exploration, Member of Risk Management Committee and Member of Exploration & Appraisal Committee
Age: 63
Compensation as of Fiscal Year 2016.

BG Group Limited Key Developments

BG Group Plans to Cut 154 Jobs

BG Group plans to cut at least 154 jobs as it vacates BG Group Place in downtown Houston and moves employees into the existing Houston offices of Royal Dutch Shell PLC, which acquired BG Group in February. BG US Services Inc. told that it plans to cut 118 jobs on Aug. 31 and another 36 jobs on Sept. 30. The jobs to be cut are from the BG Group Place office, at 811 Main St., suite 3400. The affected employees do not have bumping rights, meaning workers with more seniority cannot take the jobs of those with less seniority. BG Group's trading employees will relocate to 1,000 Main, and all other BG Group staff will relocate to either One Shell Plaza in downtown Houston, the Shell Technology Center in West Houston off Highway 6 or Shell's Woodcreek campus in the Energy Corridor at 200 N. Dairy Ashford Road.

ChemChina Reportedly Approached BG Group With A Bid Last Year

China National Chemical Corporation had approached BG Group plc late 2015, just when Royal Dutch Shell plc (ENXTAM:RDSA) was preparing to acquire BG Group, seven banking and industrial sources with knowledge told Reuters. HSBC had approached BG Group Chairman Andrew Gould with a plan of full cash bid on behalf of ChinaChem in late 2015, two sources familiar with the development told.

BG Group Headquarters To Be Sold

The Reading headquarters BG Group plc have been put up for sale. Nightingale Partners is advising on the sale. All parties involved in the sale declined to comment.

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