New Zealand Activates Diesel Reserve to Strengthen Fuel Supply Security

Wellington (ANTARA) - New Zealand has activated a new strategic diesel reserve at the Marsden Point facility in the Northland region, the government announced on Tuesday, in a move to strengthen fuel supply security amid current global supply risks. Two refurbished storage tanks are now operational, providing a capacity of approximately 93 million litres of diesel. The project was completed within three months following the approval of NZ$21.6 million from the Regional Infrastructure Fund, according to a government statement. “While tensions in the Middle East have eased somewhat, global supply chains remain vulnerable and it is important New Zealand is better prepared for future disruptions,” said Finance Minister Nicola Willis at an event to formally mark the completion and recommissioning of the tanks. “Diesel is critical to keeping New Zealand moving,” Willis said, highlighting its role in freight, agriculture, and construction. Fuel retailer Z Energy was selected through a competitive procurement process to supply and manage the approximately 90 million litre stock, the statement said, adding that while the company owns and manages the stock, the government retains the authority to release it in the event of a supply disruption. The first shipment of diesel has already arrived at the facility, with a second delivery scheduled to arrive later this month, according to the statement.