First State Investments is an Australian based global infrastructure asset manager that also recently completed the purchase of 100% of First Gas Limited (FGL), formerly known as Vector Gas Limited (VGL), from Vector Limited. FGL owns the Vector gas transmission network and a major part of its gas distribution network in New Zealand.
The MMCs have been operating (through Māui Development Limited) the Māui pipeline for over 35 years. The pipeline was built exclusively for delivering gas from the Māui natural gas field in the 1970s but in more recent times has transported gas from multiple Taranaki gas fields since an Open Access Regime was established in 2005.
Chairman of Shell New Zealand Rob Jager says FSF now own and operate the pipeline, via a company called First Gas.
“The Māui natural gas pipeline has been operating successfully for nearly four decades and whilst built exclusively for the Māui natural gas field, it is now a key infrastructure asset in transporting natural gas North, from many gas fields in Taranaki. We are delighted that such an important asset in this country’s energy infrastructure will be managed by First State Investments, a leading global infrastructure asset manager with strong expertise in this area,” says Rob Jager.
It should be noted the future of the Māui pipeline has been under consideration for a long time by the MMCs and is separate from the review of the Shell New Zealand business announced in December 2015.
Media queries: Jacqueline Baker Shell, 0274 775 137.
*MMCs: Shell 83.75%, OMV NZ 10% and Todd Energy 6.25%.