February 2019
NZIER report shows $28b cost from exploration ban
Last year’s oil and gas exploration decision could cost New Zealand $28 billion by 2050, according to a new study by the New Zealand Institute for Economic Research (NZIER).
The study was commissioned by PEPANZ and is the first proper analysis of the wider impacts of the decision. It shows:
- Exports are likely to fall by between and $3 billion and $10 billion
- The Taranaki economy could shrink by up to $40 billion
- "Undetectable" impact on global greenhouse emissions
You can read the full report here, and view some of the media coverage below:
Energy Voices campaign on TV
PEPANZ's Energy Voices campaign has been advertising on television throughout February, highlighting concerns over the end to new oil and gas exploration permits.
The first advertisement focused on real people affected by the decision and the latest version (below) highlights the $28 billion cost to New Zealanders.
The campaign continues to reach a very wide audience on social media with over 1.2 million appearances last week.
Petroleum Conference update
Expressions of interest are now open for the 2019 New Zealand Petroleum Conference.
Held annually, the conference is the only event in the country that brings together senior government officials, regulators, industry leaders, international experts, and service providers. The programme is being designed to maximise opportunities for delegates to meet, network and share information with key industry players and influencers.
Click here to express your interest. Please note this is a separate form from registering to attend the 2019 Conference, which can be done once your expression of interest is approved.
Hydrogen report raises questions
A new study has cast doubt on hydrogen's ability to replace natural gas in thermal electricity generation.
The report by Concept Consulting found carbon prices would need to rise to $300-400 and the cost of production fall for electricity generation from hydrogen to be economic.
“Large-scale storage is problematic, and hydrogen-fired turbines may struggle to compete with other options such as biomass or over-building renewable generation,” the report says.
The study was jointly funded by Contact Energy, the Energy Efficiency and Conservation Authority, First Gas, Meridian Energy, MBIE and Powerco.
Entries open for Deloitte Energy Awards
Entries are now open for the 2019 Deloitte Energy Excellence Awards.
The annual Awards recognise outstanding achievements in the New Zealand energy sector and will be held in Auckland on 21 August.
Two new categories have been announced this year:
- Network Initiative of the Year, which celebrates a network company, where an initiative delivers outstanding results
- Well-being Award, celebrating energy sector excellence in caring for our people
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