Middle East Economic Survey

VOL. XLVIII

No 15

11-April-2005

CASPIAN

BG Group Completes Sale Of Kashagan Shares

The BG Group on 6 April announced that it had completed the sale of its 16.67% interest in the North Caspian Sea Production-Sharing Agreement (NCSPSA) and received an aggregate pre-tax cash consideration of approximately $1.8bn (MEES, 4 April). BG sold its shares to its partners in NCSPSA who pre-empted an earlier deal to sell the shares to Chinas CNOOC and Sinopec. The BG shares have...