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The Government is welcoming a likely $250 million a year increase to exports and the 500 additional construction jobs as part of the agreement announced this afternoon by the Todd Corporation and Methanex New Zealand to increase methanol production in Taranaki.
Methanex is entering into a 10 year contract with Todd that enable it to restart the second methanol manufacturing train at its Motunui facility, north of New Plymouth.
- Phil Heatley
- Steven Joyce
- Energy and Resources
- Economic Development
New Zealand has secured oil reserves for 2012 that ensure the country will continue to meet its international obligations, Energy and Resources Minister Phil Heatley announced today.
“As a member of the International Energy Agency, New Zealand is required to hold 90-days of stock of the previous year’s net oil imports,” says Mr Heatley.
“New Zealand's total 90-day obligation for 2012 is 1.1 million tonnes. The majority of these reserves are commercial stocks held by companies in the oil and gas sector,” says Mr Heatley.
- Phil Heatley
- Energy and Resources