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Process and timing for Pohokura gas authorisation

Media Release

Issued 12 February 2002-03 / 110

Commerce Act: Update on process and timing for
Pohokura gas authorisation

The Commerce Commission is intending to release its final determination on the application for authorisation regarding the Pohokura Gas field at the end of July.

Three parties, Preussag Energie, Shell Exploration and Todd Petroleum Mining, applied to the Commission in December for authorisation under section 58 of the Commerce Act to enter into arrangements to jointly market and sell gas produced from the Pohokura field off the Taranaki coast.

The Commerce Act prohibits competitors agreeing to work together in a way that reduces competition between them. However, the Act does allow for authorisation of potentially anti-competitive business practices if the public benefit is greater than the detriment to competition.

A public version of the application is available on the Commission’s website, www.comcom.govt.nz, select Adjudication (Public Registers).

Proposed timetable
Submissions on application close Friday 28 February 2003
Draft Determination issued 1 May 2003
Submissions on Draft Determination close tbc
Commission Conference 17-20 June 2003
Commission releases Final Determination 25 July 2003

ENDS

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