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NZ increases jet fuel supply to meet growing demand
Media release
Thursday 22 June 2017
NZ increases jet fuel supply to meet growing demand
New Zealand’s supply of aviation fuel grew significantly in the March 2017 quarter compared to the same period last year to meet strong demand from the airline industry, according to new data released today.
The New Zealand Energy Quarterly, released by the Ministry of Business, Innovation and Employment (MBIE), shows the amount of jet fuel used for international transport grew by 19 per cent, and domestic travel by 18 per cent.
James Hogan, MBIE’s Manager of Energy and Building Trends, says demand was met by not only importing more jet fuel but also increasing production at Marsden Point, the country’s only oil refinery.
“The amount of jet fuel produced at Marsden Point increased by seven per cent to 313 kilotonnes, while the volume of imports increased more than threefold compared to the previous March quarter – up from 26 kilotonnes to 111 kilotonnes.”
Refining NZ, which operates the refinery, is nearing its maximum production capacity for jet fuel, and is working on a tank farm reconfiguration project to improve its ability to handle jet fuel imports.
“Boosting the country’s jet fuel capacity means New Zealand can continue to meet growing demand.”
The data also shows an increase in renewable electricity generation, largely due to high levels of rainfall in some hydro catchment areas over summer 2016/2017.
“The higher than usual supply of renewables meant less demand needed to be met by fossil fuels, with coal-fired generation dropping by 52 per cent and gas-fired generation by 17 per cent.
“This resulted in a 39 per cent decline in fossil fuel emissions.”
Energy Quarterly data is collated from members of the energy industry and is used to provide insights into demand, supply, prices and emissions in the energy sector.
New Zealand Energy Quarterly: http://www.mbie.govt.nz/info-services/sectors-industries/energy/energy-data-modelling/publications/new-zealand-energy-quarterly
Read about electricity cost and price monitoring: http://www.mbie.govt.nz/info-services/sectors-industries/energy/energy-data-modelling/statistics/prices/electricity-prices
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