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BG Group Closes Gap in Funding LNG Project Due to Higher Cost by Borrowing $1.8B from EximBank

BG Group just borrowed $1.8 billion from the US Export-Import Bank to close the funding gap in its Queensland Curtis Island Liquefied Natural Gas ( LNG ) project. Cost blowout has escalated to $20 billion that BG had to source additional funding for the resource venture.

BG is expected to produce its first gas from the Curtis Island project in 2014. It is, however, within the Great Barrier Reef World Heritage area. BG insisted that it is constructing the project in an industrial port at the extreme southern part of the reef which would have no impact on the environment.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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