BG LNG profits skyrocket by 42%

BG Group reported a 42% jump in operating profits in its LNG segment thanks to strong demand for cargoes.

The UK-headquartered gas giant reported $812 million in operating income from the segment, compared to $570 million in the first quarter of 2010.

Revenue shot upward by 33% to $2.3 billion.

BG tied the jump to growing demand in Asia. The company delivered 91% of its cargoes outside of the United States, where BG has import capacity.