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

 

Tornado Aftermath: More Storms Forecast For New Plymouth

Up to 30 homes were damaged Monday night when a tornado roared through a New Plymouth suburb last night , cutting power lines, tearing off roofs, and toppling trees. More>>

ALSO:

Government Investment Rejig: Sustainable Food & Fibre Futures Launched

Growing New Zealand’s food and fibre sectors sustainably and supporting a thriving economy are the hallmarks of a new investment programme announced today by Agriculture Minister Damien O’Connor. More>>

Dump Levy Options: Waste Work Programme Announced

Associate Environment Minister Eugenie Sage has announced a programme of work to take action on New Zealand’s long-neglected waste problems. More>>

ALSO:

Real Estate: Foreign Buyers Ban Passes Third Reading

The Bill to put in place the Government’s policy of banning overseas buyers of existing homes has passed its third and final reading in the House. More>>

ALSO:

Nine Merger: Fairfax Slashes Value Of NZ Business

Fairfax Media Group more than halved the value of its Kiwi assets, attaching just A$40 million to mastheads that were once the core of a billion dollar investment. More>>

Collecting Scalpers: Commerce Commission To Sue Viagogo

The Commission will claim that Viagogo made false or misleading representations: • that it was an “official” seller, when it was not • that tickets were limited or about to sell out • that consumers were “guaranteed” to receive valid tickets for their event • about the price of tickets... More>>

ALSO: