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Helge Lund

Markets

BG Group: Facts and figures

BG Group has backed a takeover worth £47billion from oil major Royal Dutch Shell. But what do we know about the Reading-based company? Its roots go back to the 1950s, when the UK's Gas Council began putting resources into liquefied natural gas (LNG) as a potential replacement for manufactured gas. Then, in 1986, British Gas - which contained a major part of the UK's exploration business, was privatised in 1986. Just over 10 years later British Gas was demerged into two separate companies, with BG taking charge of exploration and production and its international downstream operations, as well as its British transmission and distribution business called Transco.

Markets

BG Group cut share package for new chief exec

BG Group has revised the salary package for its new chief executive Helge Lund following a backlash from shareholders. Mr Lund, who has been likened to Real Madrid and Portuguese footballer Cristiano Ronaldo because of his superstar status in the global oil and gas industry, was set to get a £12million “golden hello” in shares and the chance to earn £13.5million a year if he hits performance targets. Mr Lund’s share award has been cut from £10million to £4.7million.