Group PLC ( ) is an
integrated oil and gas company which has its headquarters in
Company is listed on the London
and is a constituent of the FTSE 100 Index
The company was created in 1997 when British Gas plc
divested Centrica and became
, which was reorganised in 1999 as BG Group
Lattice Group de-merger
On 23 October 2000, a further demerger separated the company into
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
September 2007, BG Group delisted its ADR from the New York Stock
Exchange after expressing concerns over the tougher rules
and high costs associated with the Sarbanes-Oxley Act. Instead its shares
began trading on the US over-the-counter market known as
the Pink Sheets "International Premier QX".
In June 2008 BG Group launched a US$13.1 billion hostile and
ultimately unsuccessful bid to acquire Origin Energy
's largest coal-seam gas producer: BG
Group were out-manoeuvered by ConocoPhillips
who offered to invest US$9.1
billion in a joint venture with Origin.
In October 2008 BG Group agreed to buy Queensland Gas
US$3.4bn so enabling it to operate in Asia
liquified natural gas market.
BG Group's main business is exploration for and the extraction of
natural gas, liquefied natural
and to a lesser extent oil. It sells these products to
wholesale customers such as retail gas suppliers and electricity
generating companies. It also owns some gas pipelines and is
involved in some power generation projects. It is active around the
world, with only a minority of its business being in the UK. BG
Group is a multinational company with operations in 27 countries.
Key areas for the company include:
Frank Chapman was appointed Chief Executive of the BG Group in
October 2000. His remuneration for this role in 2008 consisted of
£1,081,588 base salary and a £1,944,000 bonus.