Channel Infrastructure Addresses Fuel Shortage Concerns Amid Redevelopment Investment
Channel Infrastructure's CEO, Buchanan, reassured that fuel storage levels are normal at Marsden Point, despite closure criticisms. A $30 million redevelopment of the head office is underway, while alternative fuel strategies, including a biofuel refinery with Air New Zealand and Qantas, are being explored. The site holds 350 million litres of unused storage, potentially extending fuel supply by 14 days. Challenges remain in immediate fuel supply and refined fuel import restrictions.
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Channel Infrastructure's CEO, Buchanan, stated there is no need for panic regarding fuel shortages, noting normal storage levels at Marsden Point. He addressed criticisms of the refinery's closure, emphasizing that the main issue lies in crude supply, not refinery capability.
A study indicated that transitioning to zero-emission vehicles and increasing fuel storage are effective measures for fuel security. The company has 350 million litres of unused storage, which could provide an additional 14-day fuel buffer if utilized.
Z Energy is restoring a 30-million-litre jet fuel tank, set to be commissioned by year-end. A biofuel refinery project is also in development, with Air New Zealand and Qantas involved. The head office redevelopment, costing $30 million, aims to bolster confidence in Northland's energy sector.
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