* BG beats 2015 production target thanks to Brazil,Australia
* LNG deliveries up 63 pct in 2015
* Cargoes to Asia rise 72 pct (Updates throughout)
By Karolin Schaps
LONDON, Feb 5 (Reuters) - Britain's BG Group, in itslast results update before its takeover by Shell,reported a 22 percent fall in fourth quarter core earnings to$1.43 billion on Friday as low energy prices ate into profits.
The large gas producer, set to become part of Shell on Feb.15, took a hit in its oil and gas production and liquefiednatural gas (LNG) segments from another roughly 20 percent fallin oil prices in the quarter.
A surge in production in Australia and Brazil, key growthareas that Shell has singled out to justify its takeover, helpedBG beat its own yearly output target to 704,000 barrels of oilequivalent per day.
Shares in BG were trading up 1.1 percent at 0909 GMT.
BG's prized LNG unit also delivered 63 percent more volumesin 2015 mainly thanks to the smooth ramp-up of its QueenslandCurtis LNG export project.
The additional volumes were mostly absorbed by buyers inAsia, with the number of cargoes to the region rising 72 percentyear-on-year to 208.
In a sign that BG has increased opportunistic trading, thecompany said it had purchased 13 more cargoes on the spot marketin the fourth quarter.
Weaker demand and a steady ramp-up in fresh supplies meantlow LNG prices provided more spot trading opportunities,complementing deals under long-term contracts.
BG's successful LNG business will turn Shell into theworld's largest LNG trader, betting on continued growth drivenby governments' ambitions to make their economies lesscarbon-intensive.
"We believe BG's quality portfolio in both Brazil and LNGwill contribute positively to the Shell-BG combined entity,"said analysts at Bernstein. (Editing by Alexander Smith and Adrian Croft)