Elgin gas leak dents BG Group

Published on 27/07/2012 00:00

GAS producer BG Group yesterday warned the leak on Total’s Elgin platform in the North Sea and the scaling back of drilling at its North American shale gas wells took their toll on the firm’s gas trading during the first half of the year.

However, higher profits at its liquefied natural gas (LNG) business and “strong growth” in
Africa helped the FTSE 100
explorer and producer to grow interim operating profits by
6 per cent to $4.3 billion (£2.74bn).

The rise in the firm’s profits allowed it to boost its interim dividend by 10 per cent to 7.64p.

BG Group holds a 14 per cent stake in Total’s Elgin field.