The natural gas supplying company E-Gas has been entered in to liquidation as the company faced so many difficulties in recent past. The industry regulator has carried out a three years long inquiry in to a legal dispute with the Todd Energy.

The BDO Spicer’s have been appointed to manage the liquidation for the firm which has almost 9% market shares in the country.

Above that almost 7000 customers were suffered with this dispute in the city of Auckland. The managing director of E-Gas, Ron Rosenberg has confirmed the voluntary liquidation to the business desk. According to the website of a Gas Industry Company the arrangements are in place to continue the supply to existing customers in short term.

In the longer term it is likely that the liquidator will arrange to have the E-Gas customers transferred to another retailer.

The E-Gas has been warning that it was considering an orderly exit from both the retail and wholesale market.

The company is understood to have been facing a 90% increase in up-front security payments required by the Auckland gas network company.