September 2020
Aussies stepping on the gas
The Australian Government has announced a 'gas-fired recovery' to rebuild their economy from the impacts of Covid-19.
Prime Minister Scott Morrison is planning to get more natural gas into the domestic market, open new areas for exploration and even potentially build a new gas-fired power station.
"Gas is a critical enabler of Australia’s economy," Mr Morrison told media.
“Our competitive advantage has always been based on affordable, reliable energy. As we turn to our economic recovery from COVID-19, affordable gas will play a central role in re-establishing the strong economy we need for jobs growth, funding government services and opportunities for all.”
The role of natural gas also has the backing of Australia's Chief Scientist who says it is a valuable transition fuel.
PEPANZ will be publicly highlighting this different approach in Australia and advocating for New Zealand to investigate a similar plan.
Election 2020: Energy policy update
*Labour's energy policy brings forward the target of 100% renewable electricity to 2030 instead of 2035, and invests up to $100 million into consideration of a pumped hydro scheme in Otago. PEPANZ is surprised at the 100% target given this goes against the advice of the Interim Climate Change Committee, and we have published our concerns over pumped hydro.
*National's energy policy will reverse the 2018 offshore exploration decision and take a 'fuel neutral' approach to energy policy.
*ACT's energy policy also promises to repeal the 2018 decision, and replace the Zero Carbon Act with "a no-nonsense climate change plan which ties our carbon price to that of our trading partners."
*Green party energy policy includes a ban new industrial coal boilers, ban fracking "unless it is proven safe" and bring forward the 100% renewable electricity goal to 2030.
New Plymouth election event (rescheduled)
PEPANZ's special Election 2020 event in New Plymouth has now been confirmed for Tuesday 6th October.
Our two expert guest speakers are Dr Oliver Hartwich (Executive Director of the New Zealand Initiative) and Phil O'Reilly (Managing Director of Iron Duke Partners.
Topics for discussion include:
- What are the big policy issues facing New Zealand?
- What are the likely outcomes of the election?
- What does this mean for the oil and gas sector?
5pm for a 5:45pm start: Tuesday 6 October
Gover Street: 31 Gover Street, New Plymouth
Webinar with APPEA Chief Executive
PEPANZ is delighted to invite you to an exclusive webinar with Andrew McConville, Chief Executive of the Australian Petroleum Production & Exploration Association (APPEA).
This comes in light of the Australian Government championing a "gas-fired recovery" to Covid-19. Join us to hear what this means for the industry in Australia and New Zealand, and discussion on:
*Latest industry and regulatory developments in Australia
*How APPEA is engaging with their Government(s) and the wider public to build social licence
*Lessons our industry can take from Australia.
Standing up for industry over divestment
PEPANZ has written to Kiwibank and KiwiSaver provider Simplicity challenging their recent decisions on working with companies involved in the production of fossil fuels.
We expressed concern that Simplicity's decision to divest from Genesis Energy ignores expert advice on the important role of natural gas in lowering emissions.
We've also challenged Kiwibank's decision to withhold banking services from the upstream sector, given the role of oil and natural gas in the energy transition.
We think it's important for PEPANZ to publicly challenge these decisions and highlight the importance of our sector to the economy and society, creating better lives for people while also supporting the transition.
Member profile: Trigpoint Capital
PEPANZ is proud to welcome Trigpoint as our newest member.
Trigpoint provides investment research, analysis and advisory services to a range of public and private sector clients.
They specialise in financial modelling and commercial support to help clients make the best investment decisions.
Every month we'll be profiling different PEPANZ members, highlighting the range of skills and services in our local industry.
PO Box 25259, Wellington 6146
