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Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel

OMV to Acquire Shell’s Gas and Liquids Portfolio

The acquisition will see OMV take ownership of Shell’s full New Zealand portfolio.

The Commerce Commission has granted clearance to OMV to acquire Royal Dutch Shell’s gas and liquids portfolio in New Zealand.

The acquisition will see OMV take ownership of Shell’s full New Zealand portfolio, including its stake in the Maui and Pohokura gas field joint ventures with Todd Energy and the associated production, pipeline and tank assets.

In considering the acquisition, the Commission focused mainly on competition issues in the national market for production and first point of sale of natural gas.

Deputy Chair Sue Begg said the Commission was satisfied the acquisition would not substantially lessen competition in any of the markets it assessed.

“OMV and Shell only compete to supply natural gas from the Pohokura gas field, as all production from the Maui field, including LPG, is jointly sold,” Ms Begg said.

“While OMV will be the largest producer and supplier of natural gas in the immediate future, its overall market share is likely to decline in the longer term as the Maui field is nearing the end of its life and Pohokura is easing off its peak. Todd Energy and Greymouth Petroleum have increased their shares of the market over the past five years, a trend that is likely to continue in the future. The constraint from these and other players, combined with the strong buyer power of large gas users, means we are satisfied the acquisition would not substantially lessen competition.”

News Code: 
13509
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