A leading natural gas group has announced that it is to grow its production volumes at the maximum of its existing target range, which could interest hedge fund managers investing in this sector.
A leading natural gas group has announced that it is to grow its production volumes at the maximum of its existing target range, which could interest hedge fund managers investing in this sector.
BG Group has predicted that it will be reaching the top of its compound annual growth rate target of six to eight per cent by 2020, producing one million barrels oil equivalent per day by 2015.
Key areas where the organisation will focus include Brazil, which is scheduled to increase production throughout the first half of the decade, and Australia, where the Queensland Curtis LNG project will be sanctioned this year.
Frank Chapman, chief executive of the group, claimed that the organisation is entering a “new decade of high growth” with a strengthened and rebalanced portfolio.
He stated: “Our aim is to achieve rates of growth which are a multiple of the industry average, extending our track record of shareholder value creation deep into the future.”
Mr Chapman’s assertion followed the publication of the group’s fourth quarter results, which showed a 38 per cent fall in profits due to falling gas prices.