Press Release – PEPANZ A new investigation into how imported LNG might be needed to keep the lights on is disappointing but unsurprising, according to the Petroleum Exploration and Production Association of New Zealand (PEPANZ). The Gas Industry Company (GIC) has requested …
A new investigation into how imported LNG might be needed to keep the lights on is disappointing but unsurprising, according to the Petroleum Exploration and Production Association of New Zealand (PEPANZ).
The Gas Industry Company (GIC) has requested proposals for a study into the practicalities of importing LNG to fill gaps in our energy system, as part of a wider study into gas market settings requested by the Minister of Energy and Resources.
“Importing natural gas from Australia in the form of [liquefied natural gas] would be crazy when we have our own local resources here. “More than likely it would mean higher energy prices for consumers and higher emissions from shipping [it] here.” Carnegie said it means New Zealand would be funding the Australian economic recovery, instead of generating jobs and royalties for itself. “If we’re going to keep using natural gas until at least 2050 as the Climate Change Commission acknowledges, surely it’s better to produce it locally.” But a spokesman for GIC said the implication they are about to start facilitating the import of natural gas is not correct.
Source:Â PEPANZ
The mothballing of a Methanex plant at Waitara Valley is disappointing for the workers, their families and Taranaki, according to the Petroleum Exploration and Production Association of New Zealand (PEPANZ).
âThis reinforces how important a secure long-term supply of natural gas is to our economy and especially our export industries,â says PEPANZ Chief Executive John Carnegie.
Methanex uses nearly half of New Zealandâs natural gas production to create methanol, which is an essential ingredient used in hundreds of everyday consumer and industrial items. It is also used as a clean burning fuel for shipping.
âMethanol is a perfect example of how natural gas is being used with lower emissions. It would be a disappointing outcome if production increases overseas using coal, which would mean higher global emissions.