Vector sells Kapuni plant to Todd

By Paul McBeth | Tue, 03 Dec 2019


Vector has agreed to sell its Kapuni gas treatment plant and associated assets to partner Todd Petroleum Mining in a deal that may provide longer-term payments linked to the field's production.Todd will pay for the acquisition over the lifetime of its Kapuni gas field, based on production and processing volumes, Vector said. New long-term contracts for natural gas supply will start from 2021, with Vector as an anchor customer. Both companies have agreed to settle litigation once the deal is completed, with action suspended until then."Vector wi...