BG Group announced it will sell the 543-km (337-mile) pipeline that supplies its Queensland Curtis LNG export facility at Gladstone on Australia's east coast for $5 billion. Constructed from 2011 to 2014, the pipeline has a book value of $1.6 billion. The transaction is expected to close in the first half of 2015, posting a post-tax profit for BG of about $2.7 billion. For the 2016 year, the pipeline tariffs are expected to produce $390 million. The sale is conditional upon the start of LNG deliveries from Queensland Curtis LNG, which has firm capacity rights for 20 years to supply its initial 8.5 mtpa capacity.
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