Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

New energy scenarios highlight the importance of natural gas


The importance of natural gas for keeping energy affordable, reliable and sustainable in the decades ahead has been highlighted in the BusinessNZ Energy Council (BEC)’s future scenarios released today, says the Petroleum Exploration and Production Association of New Zealand (PEPANZ).

"The electrification of transport and industry can lower emissions but to do this we need reliable and affordable electricity. Natural gas will play a crucial role in achieving this by backing up renewable electricity sources which are susceptible to weather events," says PEPANZ spokesman Phil Rennie.

"Energy security is crucial to New Zealanders and this is a key advantage of natural gas highlighted in the report. Natural gas peaking power is not subject to weather variabilities which means we can reliably keep the lights on and showers hot.

"One of the two scenarios shows the need to import LNG by 2040. Surely producing our own natural gas would be a much better option. If neither are wanted, what will we use to power New Zealand homes and export industries?

"There is also a role for carbon capture and storage under both scenarios. This technology is a reality around the world but we need a regulatory regime to specifically enable it here in New Zealand.

"There is no doubt the energy resources we use in the future will change, but this research highlights the importance of not closing off options or trying to pick winners."

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Fuels Rushing In: Govt "Ready To Act" On Petrol Market Report

The Government will now take the Commerce Commission’s recommendations to Cabinet...
• A more transparent wholesale pricing regime • Greater contractual freedoms and fairer terms • Introducing an enforceable industry code of conduct • Improve transparency of premium grade fuel pricing... More>>

ALSO:

Reserve Bank Capital Review Decision: Increased Bank Capital Requirements

Governor Adrian Orr said the decisions to increase capital requirements are about making the banking system safer for all New Zealanders, and will ensure bank owners have a meaningful stake in their businesses. More>>

ALSO:

Aerospace: Christchurch Plan To Be NZ's Testbed

Christchurch aims to be at the centre of New Zealand’s burgeoning aerospace sector by 2025, according to the city’s aerospace strategic plan. More>>

ALSO:

EPA: Spill Sees Abatement Notice Served For Tamarind Taranaki

The notice was issued after a “sheen” on the sea surface was reported to regulators on Thursday 21 November, approximately 400 metres from the FPSO Umuroa. A survey commissioned by Tamarind has subsequently detected damage to the flowline connecting the Umuroa to the Tui 2H well. More>>

Taskforce Report: Changes Recommended For Winter Grazing

A Taskforce has made 11 recommendations to improve animal welfare in intensive winter grazing farm systems, the Minister of Agriculture Damien O’Connor confirmed today. More>>

ALSO: