Shell sells NZ pipeline to First State Investments

The Maui Mining Companies, majority owned by Royal Dutch Shell, is planning to sell the Maui natural gas pipeline in New Zealand to infrastructure funds managed by Australia-based First State Investments for NZ$335 million ($226.49 million).

The pipeline transports approximately 78% of all natural gas produced in New Zealand. Shell New Zealand expects the transaction to close in mid-2016, pending regulatory approvals.

Shell holds a 83.75% stake in the pipeline; OMV NZ, a unit of Austria's OMV, has a 10% stake; and privately owned Todd Corp.’s Todd Energy holds 6.25%.

 

 

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