\u201cThank you for the way that you are transitioning what was the refinery site into a terminal site that\u2019s future-proofing New Zealand\u2019s energy needs and security,\u201d he said.<\/p>\n
Luxon said this year\u2019s fuel shock from the Middle East conflict showed the importance of diesel to New Zealand\u2019s economy, powering freight, farming and emergency services.<\/p>\n
\u201cWhile higher fuel prices were difficult to navigate, having a shortage of fuel would\u2019ve been even tougher.\u201d<\/p>\n
The Government funded up to $21.6 million for the diesel storage project because it made New Zealand more resilient, he said.<\/p>\n
\u201cIt\u2019s really important that we have this facility here in New Zealand. While global tensions rise and fall, New Zealand must be ready … it\u2019s all about making our country more resilient and more secure.\u201d<\/p>\n
Channel Infrastructure chief executive Rob Buchanan (from left) greets Prime Minister Christopher Luxon at Marsden Point, symbolising the way Government and industry have worked together on the project. Photo \/ Dean Purcell<\/p>\n
While somewhat overshadowed by the new diesel storage tanks, Z\u2019s $30 million refurbished jet fuel tank provides an extra 30 million litres of jet fuel storage<\/a> \u2013 enough to fuel 10,000 flights between Auckland and Wellington.<\/p>\n This project was also ahead of time by about six months<\/a>.<\/p>\n Z chief executive Lindis Jones was also full of praise for Channel, saying it had made \u201cextraordinary progress\u201d.<\/p>\n He acknowledged the partnership between Z, Channel and the Government, saying good relationships had to be formed because of the unprecedented fuel security concerns.<\/p>\n Buchanan said Channel and its partners have spent $165 million on new storage and infrastructure at Marsden Point over the last couple of years, despite the tough economy.<\/p>\n Channel was now launching an ambitious Energy Precinct, including a biodiesel plant, transforming the site from a \u201cclosed refinery\u201d to a terminal for the future, he said.<\/p>\n \u201cThat has the potential to create 20,000 construction jobs here in Northland and bring new opportunities for New Zealand.\u201d<\/p>\n Extra fuel storage like an insurance policy<\/p>\n When fuel was unable to get through the Strait of Hormuz, the Government worked with Channel Infrastructure and Z to improve New Zealand\u2019s diesel storage, as an insurance policy against future disruption.<\/p>\n Channel recommissioned two storage tanks<\/a> \u2013 the largest of which has a diameter big enough to fit The Beehive inside \u2013 to take 93 million litres of diesel, providing about nine days\u2019 average use.<\/p>\n After a competitive procurement process, Z Energy was selected to supply and manage<\/a> the 90 million litre diesel reserve, with the Crown controlling its release to market if needed.<\/p>\nOfficials, including PM Christopher Luxon, are dwarfed by the size of the new fuel storage tanks at Channel Infrastructure. Photo \/ Dean Purcell<\/p>\n
PM Christopher Luxon (right) meets with some of the Channel Infrastructure team behind the refurbishment of the storage tanks. Photo \/ Dean Purcell<\/p>\n