Shell has completed the $335million sale of the Maui natural gas pipeline in Taranaki to an Australian-based global infrastructure company, but otherwise remains silent on its future in New Zealand.
The Maui pipeline sale has been on the cards for some time and was always separate from Shell's surprise December announcement it was reviewing all its New Zealand assets, as the global company sought to rein in costs in the face of falling oil prices and increasing costs.
Chairman of Shell New Zealand Rob Jager was contacted and asked when Shell was due to announce its intentions for its New Zealand assets.
"It's business as usual and there is nothing material to report.
"Shell continues to explore a range of options for some or all of Shell's assets in New Zealand,'' Mr Jager said yesterday.
The Maui natural gas pipeline, more than 35 years old, transports about 78% of all natural gas produced in New Zealand.
It was built to deliver gas from the Maui field in the 1970s and more recently has also transported gas from Taranaki gas fields, since an "open access regime'' was established in 2005.
Mr Jager said regulatory approvals had been obtained to finalise the Maui sale by the Maui Mining Companies, of which Shell has a 83.75% stake, OMV NZ 10% and Todd Energy 6.25%.
The pipeline was bought by Australian-based global infrastructure asset manager First State Investments, which also recently purchased 100% of First Gas Ltd, formerly Vector Gas Ltd.
First Gas Ltd owns the Vector gas transmission network and a major part of its distribution network around the country.
