Vector Chief Executive Simon Mackenzie said that the company was looking forward to continuing the relationship with TAG and encouraging the company’s endeavours to find more gas.

Mr Mackenzie also announced that Vector had renewed a significant contract with long-term customer Carter Holt Harvey, one of the largest industrial gas users in New Zealand.

In addition, Vector has successfully signed an additional contract with Methanex to supply approximately 3 PJ/a until 31 December 2012.

“These deals are just another example of how our gas wholesale team are winning contracts to supply blue chip customers in a highly competitive market and replacing expiring legacy contacts with new medium-term contracts,” he said.