BG Group plc has completed today the sale of its entire shareholding in BG Rimi S.p.A., to CPL Concordia Soc. Coop. ARL of Modena (CPL).

The assets, which were sold for 34 billion lire (£10.98 million), include nine exploration permits and 18 production concessions, the majority of which are located in central and southern Italy.

On October 26, BG announced that it had agreed to sell these assets to CPL. BG Rimi S.p.A., will be renamed Gas della Concordia S.p.A.

Notes to Editors

BG retains 12 exploration licences in the Po Valley and the Sicily Channel.

It is a partner in Serene S.p.A., a joint venture company, which owns and operates 400 megawatts of co-generation units. It is also promoting the development of a US$300 million liquefied natural gas (LNG) importation terminal in Brindisi on the south east coast of Italy. It is envisaged that the project could start with a throughput of four billion cubic metres of gas per year imported into the Italian market from 2006.