LNG profits take a tumble for BG Group

UK gas giant BG Group has been hit with a 10% slump in first quarter LNG operating profits, but is still confident of a high annual result.

Whilst overall profits crept up by 1% to reach $1.97 billion, the LNG segment dropped to $570 million from $663 million for the same period in the previous year.

This has been partly put down to strong weather-related gas demand pushing shipping and marketing of LNG up in the first quarter of 2010.

BG