Economy / Energy

Does the country have adequate fuel reserves?

09:05 am on 8 December 2022

Photo: 123RF

A dud batch of aviation gas has sent ripples through the airline sector - they've been told they'll be supplied with less fuel than usual in the coming weeks - right at the busiest travel time of the year. Last month, the government announced an increase in the amount of petrol, jet fuel and diesel that importers and wholesalers must hold and that it would boost its own reserves of diesel in an effort to improve the country's ability to weather fuel shocks. Energy and Resources Minister Megan Woods says the government is still investigating storage facility options and the stocks are unlikely to be accumulated until late 2023 or early 2024. Are the new minimum storage requirements adequate when one dud batch of av-gas can have such an impact, and when Marsden Point no longer has refining capability? Kathryn speaks with Simon Terry, Executive Director Sustainability Council, who has serious misgivings about the way the government has approached the issue.

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