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Shell sells EGCL to NGC

Shell sells EGCL to NGC

Shell New Zealand Country Chairman Dr Lloyd Taylor today announced that Shell had sold Energy Gas Contracts Limited (EGCL, formerly called Fletcher Challenge Gas Investments Limited) to Natural Gas Corporation (NGC), for an undisclosed sum.

“The sale of EGCL to NGC completes the undertakings given to the Commerce Commission by Shell at the time of the acquisition of Fletcher Challenge Energy.

“The Commerce Commission subsequently extended the deadline for Shell to dispose of EGCL. We are pleased to have completed this sale ahead of their deadline, and to have completed the disposal of all the assets required by the Commerce Commission,” Dr Taylor said.

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