Contact Energy hopes to have NZ’s first underground gas storage facility operational by 2010, at the depleted Tariki/Ahuroa field near Stratford. Contact acquired the field from Swift Energy late last year. CEO David Baldwin says the storage facility will allow more flexibility in supplying gas for electricity generation, with demand for gas expected to become […]
NZ’s crude oil and condensate production have remained at near-record levels for the fourth consecutive quarter. The Ministry of Economic Development’s NZ Energy Quarterly shows production of crude is expected to be boosted again later this year as Maari, a new field located off the Taranaki coast, starts producing its first oil. The Maari field […]
Chris Mole, Associate Editor
• Trial to start around February 2009.
• Aim is to encourage Govt subsidies.
• Meridian to help evaluate i MiEV.
Mitsubishi is to trial its i MiEV (Mitsubishi Innovative Electric Vehicle) in NZ next year as a first step towards a possible introduction of the cars to the local market and to create greater […]
A new report by PricewaterhouseCoopers advises NZ businesses to “carbon-proof” themselves to minimise costs under the new Emissions Trading Scheme. The Emission Critical report warns businesses need to focus their attention on energy efficiency, and develop robust carbon management strategies to price carbon into all business decisions. PwC’s Climate Change Team Leader, Julia Hoare, says […]
The primary unit of trade for the ETS is the NZ unit (NZU). One NZU is equivalent to one tonne of CO2 equivalent emissions. Several other types of Kyoto compliant emission units can also be used under the ETS, including Emission Reduction Units (ERUs), Removal Units (RMUs) and Certified Emission Reductions (CERs). To ensure only […]
Chris Mole, Associate Editor
• Framework still may be amended.
• Business and farmers remain opposed.
• Is it really all about perception?
NZ is set to launch the first emissions trading market outside Europe and whoever wins the November election, the ETS is here to stay. National is committed to the concept of Emissions Trading but if it […]
The South Island’s Ngai Tahu iwi has filed a new claim with the Waitangi Tribunal designed to protect the value of its 1998 settlement from the effects of the ETS. The tribe says the ETS will cut tens of millions of dollars off the value of its forestry assets because of penalties under the ETS […]
The Govt’s ETS legislation, arguably the biggest economic reform since the 1980s, looks set to be passed by Parliament this week but not without a last-ditch fight by its opponents to stop it. The Scheme was under heavy crossfire last week from business, the Federation of Maori Authorities, Opposition parties in Parliament, and even one […]
Chris Mole, Associate Editor
• New Environmental Protection Agency.
• Reform Environment Ministry.
• No baseline budget increase.
The National Party intends to create a new Environmental Protection Agency by expanding the powers of the existing Environmental Risk Management Authority and drawing in staff from a “bloated” Environment Ministry. This is one of the cornerstones of its Environment Policy […]
One-time minnows NZ Oil & Gas and Pan Pacific Petroleum are now swimming with the big fish on the stock exchange. NZOG is sitting on a cash mountain of $290m and Pan Pacific on $A80m from the Tui oil bonanza. NZOG’s June year profit soared 1326% to $97m from its 12% stake in the Tui […]
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