UK energy firm BG Group has held an investor conference in which it has spelt out a positive future outlook for the company, highlighted by E&P production growth and by volume and margin growth in the liquefied natural gas segment.
<p>The company has told attendees that its earnings outlook to 2009 was outstanding, thanks largely to expected Exploration & Production volume growth of 5% to 7% per annum from 2006 to 2009 and to forecasted margin growth in its liquefied natural gas (LNG) business due to demand outstripping supply.<br /><br />BG's reserves and resources now amount to over eight billion barrels of oil equivalent and can deliver some 37 years of production. Meanwhile, the company expects average LNG supply growth of 21% to 24% per annum to 2009 and supply growth of 16% to 20% per annum from 2005 to 2012.<br /><br />Chief executive Frank Chapman said: During the year, we have increased our E&P resources by almost one billion barrels and our outlook for earnings growth to 2009 remains outstanding. We have also improved our distinctive long-life asset base and significantly enhanced the projects that will drive growth to 2012. <br /><br />Our overall aim continues to be delivering exceptional value to shareholders, and I am confident that we are well positioned to sustain our strong growth for the next decade to come.<br /></p>