On 20 April 2016 Vector Gas Limited – owner of the Vector transmission system – was acquired by First State Funds, two infrastructure funds managed by First State Investments, known in Australia as Colonial First State Global Asset Management. Vector Gas Limited was renamed First Gas Limited (First Gas).
Then, on 15 June 2016, First Gas purchased the Maui pipeline from Shell, Todd and OMV (collectively known as the Maui Mining Companies). As the single owner, First Gas, now wishes to converge the operations of the Maui and Vector pipelines, including the transmission access regimes and their respective codes – the Maui Pipeline Operating Code (MPOC) and the Vector Transmission Code (VTC). Until that occurs these codes remain in effect.
The Vector Transmission Code (VTC) sets out the multilateral terms of access to the transmission pipelines previously owned by Vector Gas Limited. Although not a party to the VTC, Gas Industry Co originally had a role in considering VTC Change Request appeals. However, a change to the VTC amendment process was introduced on 1 April 2015 (having obtained the necessary support from Vector and its shippers), which reshaped the amendment process, including removing the right of appeal to Gas Industry Co.
From 1 April 2015 amendments to the VTC occur under this new process. Some background on how the change came about, and information on the old and new amendment processes is provided in the Background section. Also provided in the Background section are details of all the VTC code change appeals Gas Industry Co considered before that date.