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The oil and gas industry in New Zealand explores and develops oil and gas fields, and produces and distributes petroleum products and natural gas. In 2022, New Zealand's net self-sufficiency in oil (production divided by consumption) was 12%, i.e. the country imported much more crude and refined oil than it exported. [1]
New Zealand Unit Prices. The New Zealand Emissions Trading Scheme (NZ ETS) is an all-gases partial-coverage uncapped domestic emissions trading scheme that features price floors, forestry offsetting, free allocation and auctioning of emissions units.
Greymouth Petroleum is an energy company in New Zealand, established in 2002. [1] It owns gas and oil fields, principally in onshore Taranaki, including Kowhai and Turangi in the north of the basin, and smaller fields such as Ngatoro and Kaimiro to the south, mainly delivering gas into industrial customers served by the Maui pipeline as well as Methanex locally.
In 2021, New Zealand's Total Energy Supply (TES) amounted to 829.3 petajoules (PJ), marking an 11% increase compared to 2011. The energy supply composition highlighted a diverse range of sources, with renewables being the largest contributor at approximately 42%, followed by oil at 34%, natural gas at 17%, and coal contributing about 7%.
Gas injection into storage began in 2008 and the surface facility was constructed by Contact Energy in 2009 and 2010. [5] The facility was officially opened in 2011 [6] with a development cost of $177m. [7] In 2017, Contact Energy sold the gas storage facility to Gas Services New Zealand. [8]
Fracking has been carried out in New Zealand since 1989, mostly in Taranaki and also in coal seams in Waikato and Southland. [1] Concerns have been raised about its negative effects and some local government jurisdictions have called for a moratorium on fracking but this has been rejected by the government. [2]
The Kupe natural gas field is located in the Tasman Sea, 30 km off the coast of the town of Manaia in Taranaki, New Zealand. The field was discovered in 1986 and is located in 35 metres of water. [1] [2] The production facility comprises an unmanned offshore platform, a 30 km single three phase pipeline to shore and an onshore production ...
The Australian Gas Light (AGL) sold NGC to Vector Limited in 2004 and 2005. The company was again sold in 2016 to First State Funds, being renamed First Gas during the acquisition. [4] In 2016, First Gas purchased the Maui natural gas pipeline from Maui Development for $335 million. This is the main gas transmission pipeline in New Zealand.