BRITISH GAS STEPS UP EXPLORATION CAMPAIGN

British Gas plc (BG) is rapidly expanding its inventory of exploration acreage. Last week it disclosed it has signed agreements calling for exploration programs off Egypt, Gabon, and Yemen. In addition, it is heading a group of companies set to acquire a 70% interest in a major Argentine gas distribution company. Acquiring a share of Metropolitana gas distribution company will give BG an interest in an overseas gas company with significant opportunity for growth, company officials said.

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