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It’s goodbye to BG group: Gas giant shuts its doors and ceases to exist after Shell takeover

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It was the end of an era for staff at Thames Valley Park HQ in Reading yesterday as gas giant BG Group ceased to exist

By Monday, BG will be part of Anglo-Dutch giant Royal Dutch Shell after a £35billion takeover.

The new group is now the world’s biggest trader of liquefied natural gas.

BG Group came into being in 1997 when it was demerged from British Gas.

BG employed 5,000 people from 70 countries. 

During its existence it said that its geologists and geophysicists had helped find 17 giant hydrocarbon discoveries – each with recoverable resources of more than 500million barrels of oil equivalent or 3 trillion cubic feet of gas.

Helge Lund, BG’s outgoing chief executive, said yesterday: ‘I would like to thank our shareholders and they will continue to benefit from BG’s assets and capabilities as part of the combined business, which I am confident has a strong future.’

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