Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Shell Sells KGCL Assets To NGC

28 August 2002

Shell Sells KGCL Assets To NGC

Shell New Zealand Limited chairman Dr Lloyd Taylor today announced the sale of the contractual assets of Kapuni Gas Contracts Limited (KGCL) to NGC, for an undisclosed sum.

"This sale to NGC is, in effect, an entitlement to Maui prepaid gas and gas supply contracts related to the purchase and onsale of Kapuni gas.

"The divestment of these assets, held by KGCL was a requirement of the undertaking given to the Commerce Commission at the time of the acquisition of Fletcher Challenge Energy. Remaining to be divested under this undertaking is the assets of Energy Gas Contracts Limited (EGCL) and, more significantly, a 10% interest in the Maui field. We hope to be in a position to conclude this latter deal in the coming month," Dr Taylor said.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>