British gas producer BG Group Plc posted a rise in quarterly profit helped by higher commodity prices and a lower exploration charge and the company lifted its full year dividend by 10 percent to 21.60 cents a share.

From 2012, the group expects growth to accelerate above the 6 percent to 8 percent range as new production ramps up in Brazil, Australia and the US.

The company foresees strong growth in global gas demand through to 2020, with tightening supply.

BG Group delivered good financial results for 2010. The reserves replacement ratio is further
evidence of our progress with the major projects underpinning our very strong growth programme to 2020, said BG Chief Executive, Frank Chapman.

The three-year proved reserve replacement ratio was 223 percent and total reserves and resources increased by 1.7 billion barrels of oil equivalent (boe) to 16.2 billion boe.

Excluding disposals and one-off items, the company's earnings rose 13 percent to $1.06 billion for the fourth quarter.

Revenue and other operating income increased 1 percent to $4.4 billion, reflecting higher realised prices, partially offset by lower Liquefied Natural Gas (LNG) managed volumes and Exploration & Production volumes, BG said.

For the full year, earnings grew 18 percent to $4 billion, while revenue and other operating income rose 11 percent to $17.4 billion.

The company raised LNG profit guidance to $1.9-$2.2 billion per annum for 2011-12.

BG said its US shale gas total resources now amount to 1.4 billion boe. The company lifted its estimate of net production for US shale gas to 190,000 barrels of oil equivalent per day (boed) by 2015, almost double the volumes anticipated one year ago.

The group reported capital investment in 2011 of $10 billion and $11 billion in 2012, with the focus on its major investments in Brazil, the US and Australia

Chapman said: 2010 was a pivotal year for BG Group as the largest growth opportunities in our history began to crystallise amid a positive outlook for global gas markets. The Group's excellent 2020 growth programme is well on track.

Shares of BG are trading 0.38 percent higher at 1,445.50 pence at 08:45 am GMT Tuesday on the London Stock Exchange.

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