Gas exporter, BG, benefits from rising energy prices

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One of the United Kingdom's biggest exporters of oil and gas has announced a rise in profit margins, according to an article published by the Telegraph.

Benefitting from the rising energy prices implemented by the "big six" energy suppliers in the past few months, the BG Group has revealed that their profits have risen considerably - increasing from the $1.3 billion reported last year to $1.86 billion during the three-month period leading up to September 30.

Despite the growth, analyst at Evolution, Richard Griffiths, stated: "This year is not expected to be a high growth year for BG especially after the unrest in Tunisia and Egypt plus North Sea outages in Q3."

"These areas have recovered and BG is making progress on its key growth projects in the US, Brazil and Australia that should see the 6 per cent to 8 per cent annum growth target to 2020 met," Griffith added.

With the rise in profit margin, BG has also seen its share value rise by 5 per cent too.

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