LNG

Sept 3 (LNGJ) - Royal Dutch Shell's takeover of UK LNG portfolio player BG Group is still on track for completion by early 2016. Shell and BG have now received unconditional merger clearance from the European Commission. Together with the previously announced clearance in Brazil, two of the five preconditions to the combination have now been satisfied. Commenting on the EU clearance Shell Chief Executive Ben van Beurden said: "Receiving clearance from the European Commission underlines the good progress we are making on the deal. The transaction is on track for completion in early 2016. The recommended combination with BG is a springboard to change Shell into a simpler and more profitable company, making Shell more resilient in a world where oil prices could remain low for some time."