- Hon Nicola Willis
- Hon Shane Jones
The first of two shipments of New Zealand's diesel reserve is now on its way to New Zealand, Finance Minister Nicola Willis and Associate Energy Minister Shane Jones say.
The fuel was loaded on 31 May and is now en route to Marsden Point in Northland, where it is expected to arrive mid-June (16-18 June). The second shipment is expected to arrive in early July.
Channel Infrastructure is continuing work to refurbish two former crude oil tanks at Marsden Point to create around 93 million litres of capacity for the diesel. The tanks will be ready to receive the fuel when the first shipment arrives.
Together, the two shipments represent around nine days' of typical diesel consumption for the country.
The additional supply will not count towards the fuel companies' minimum stockholding obligations, and will be controlled by the Government.
Nicola Willis says the reserve will strengthen New Zealand's fuel security and resilience.
"Diesel is critical to keeping New Zealand moving. It powers freight, agriculture, construction and many of the services New Zealanders rely on every day.
"Having additional diesel available in New Zealand provides greater resilience and gives New Zealanders confidence that we are better prepared for potential supply disruptions," Nicola Willis says.
"The Crown and Z Energy agreed that the company will own and manage the reserve stocks. How and when the reserve is used will be decided by ministers," Shane Jones says.
The refurbishment of the tanks at Marsden Point is being paid for by up to $21.6 million from the Regional Infrastructure Fund.
