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LPG Supplies Will Continue to Meet Growing Demand

Media Release

LPG Supplies Will Continue to
Meet Growing Demand

New Zealand’s largest LPG supplier Rockgas, is confident that New Zealand’s LPG supplies will meet growing consumer demand.

Rockgas General Manager Owen Poole, said today that despite a statement by the Chairman of Maui Development MDL Dr Lloyd Taylor, ‘that the gas of-take from the Maui Field could be depleted by 2007 ’ – two years earlier than first estimated, Rockgas was confident there would be ample LPG to meet future customer demands.

Current New Zealand production of LPG is about 205,000 tonnes per annum. Of which 85,000 is exported.

“The Pohokura field, when it comes on stream in 2005, is estimated to produce between 200,000 and 300,000 tonnes LPG per annum. The Swift field is expected to produce a minimum of 12,000 and possibly up to100,000 tonnes per annum. The Tawn, Kapuni and Maui fields are expected to produce beyond 2006/7 but at a reduced rate. So based on current market information, the total output from all of the fields from that time is estimated to be 350,000 to 450,000 tonnes per annum,” Mr Poole said. This level of production will far exceed New Zealand demand for LPG.

“We were concerned that the statement by Dr Taylor would dissuade people from using LPG because it created the erroneous impression that LPG supplies were going to run out in five years.”

Dr Taylor was talking about Natural Gas which is different than LPG.

“We firmly believe that LPG has a key role to play in the future use of New Zealand’ energy resources because of its cost competitiveness and environmental advantages ,” Mr Poole said.

For further information contact: John Donnelly – Rockgas 04 5766226 or 025 223 3894

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