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


Vector to Sell Kapuni Assets

Vector to Sell Kapuni Assets And Enter into New Long Term Natural Gas And LPG Supply Arrangements

Vector has today announced it will transfer ownership of the Kapuni Gas Treatment Plant and related assets, along with Vector’s 50% interest in the Kapuni Energy Joint Venture, to Todd Petroleum Mining Company.

The Kapuni gas treatment plant processes all the gas produced from the Kapuni field in South Taranaki, with Todd holding the extraction licence for the field.

Vector Group Chief Executive, Simon Mackenzie, says the deal will ensure a strong future for the Kapuni operations, its employees and the wider Taranaki community.

“Todd is in many ways the natural owner for this asset given the level of investment they are making in the region and we’re looking forward to collaborating with them during the handover.

“Todd will inherit a fantastic team of people passionate about their region and industry and I’m pleased this deal puts the team together with a new owner with the knowledge and skills to make the most of the Plant over the long term”.

Following the transition of the plant to new ownership Vector, which serves a number of commercial and residential gas and LPG customers under its Vector OnGas brand, will be an anchor customer of Todd under new commercial supply agreements.

“I’m looking forward to the next chapter of our relationship with Todd and further opportunities to collaborate for customers”, Mr Mackenzie said.


© Scoop Media

Business Headlines | Sci-Tech Headlines


NIWA: Scientists Say Methane Emitted By Humans ‘vastly Underestimated’

NIWA researchers have helped unlock information trapped in ancient air samples from Greenland and Antarctica that shows the amount of methane humans are emitting into the atmosphere from fossil fuels has been vastly underestimated... More>>


SMC Expert Reaction: Record Dry Spells And Effects On Forests

With no rain forecast before Sunday, Auckland is about to break a record for the city's longest dry spell. Niwa says Auckland is likely to hit 40 consecutive days without rain this weekend . The upper North Island is seeing severe meterological ... More>>


Reserve Bank: Official Cash Rate Remains At 1.0 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment is at or slightly above its maximum sustainable level while consumer price inflation is close to the 2 percent mid-point of our target range. ... More>>


Science Media Centre: Novel Coronavirus Detected In China – Expert Reaction

The virus was detected after more than 40 people were hospitalised with pneumonia in Wuhan City, China and the outbreak traced to a large animal and seafood market. The Centers for Disease Control and Prevention reports that person-to-person transmission ... More>>


NZ First: Launch Of Parliament Petition To Remove Aluminium Dross

This afternoon to a crowd of over 100 people in Mataura -- Mark Patterson, New Zealand First List MP based in Clutha-Southland launched a parliamentary petition regarding the aluminium dross issue in Mataura, Southland. The petition asks that the House ... More>>