The government has finalised a deal with Z Energy to secure almost 90 million additional litres of diesel fuel, equivalent to about nine days of national supply, as concerns over global fuel security continue amid instability in the Middle East.
Finance Minister Nicola Willis said the agreement would significantly strengthen the country’s short-term fuel resilience, with the diesel expected to begin arriving in refurbished storage tanks at Marsden Point by the end of June.
“We have now placed an order for the fuel and expect the diesel will be in the refurbished tanks at Marsden Point as early as the end of June,” Willis said.
She said Channel Infrastructure was moving quickly to complete the tank refurbishment project, describing it as “an ambitious project” that would strengthen New Zealand’s fuel storage capacity.
Associate Energy Minister Shane Jones said the agreement demonstrated the Government’s willingness to invest in fuel security as international tensions continue to threaten global supply chains.
“This Government has shown that we take New Zealand’s fuel security seriously and are willing to invest where it counts, with this agreement being the first of its kind here,” Jones said.
Jones said ministers were continuing to monitor the impact of the Middle East conflict and would consider further measures if needed to protect fuel supplies.
“Working with industry to establish reserve fuel supplies and increase our fuel storage capacity is exactly the kind of action we need to be taking right now to give ourselves the insurance we need,” he said.
Image credit: Jennifer Latuperisa-Andresen
My f***ing hero’s. Just do what you’re overpaid to do for all NZers you morons.