Vector exits gas as 'perfect storm' hits

Simon Mackenzie says Vector was stuck in the middle in a squeezing market. (Image: NZME)

Mon, 29 Jul 2024

As Vector moves to complete its exit from the gas business, chief executive Simon Mackenzie says one answer to the supply shortage is remotivating operators to get more out of existing fields, given their recent challenges.As the country faces soaring energy prices and a gas shortfall, Mackenzie said events had created a "perfect storm" with no easy solutions.Especially in light of the recent events, Vector’s decision to exit the gas business has proven to be a good one. It has left the company in a better place as the sector st...

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