Onshore fuel stockholdingLast updated: February 28, 2022
Onshore fuel stockholding
Published: February 28, 2022
Submitting To: Ministry of Business, Innovation and Employment (MBIE)
Issue for Business: The consultation paper discusses various levels of stocks to be held physically onshore by fuel wholesale suppliers as a means to increase our fuel security in the event of a fuel disruption, how to implement this requirement and various proposed structures to manage this requirement. We note changes to the refinery are unlikely to impact on fuel security in the case of domestic supply interruptions but may increase the risk of disruption in an extended closed border event. We acknowledge increased fuel stocks held within New Zealand would provide security against this particular scenario, however we caution that any moves to increase security must be balanced against the increased costs faced by consumers.