Source: Radio New Zealand
A rig at the Maui gas field. Supplied
Energy company OMV has put a possible end date on gas production at the Maui gas field.
The Austrian-based company’s latest annual report notes it informed the government gas production at Maui was expected to finish at the end of this year.
PwC’s Energy team managing director Aaron Webb said the field’s decline had been long signalled, with government officials previously forecasting a likely end to production in 2027.
“Maui’s closure is another sign that New Zealand is now transitioning away from gas,” Webb said.
He said one of the key issues to come from it was whether Taranaki-based methanol producer Methanex would leave as a result of the announcement.
“The two are tied together quite closely in terms of Methanex being a key purchaser of Maui’s gas, so we may see a lot smaller gas market in the next year.”
In a statement to RNZ, an OMV spokesperson said: “OMV confirms that the Māui gas field, which has been in operation for nearly 50 years, is approaching the end of its productive life. However, no final decisions have been made regarding the timing.
“Despite substantial investments in recent years aimed at extending the field’s viability, official disclosures indicate a significant decline in gas output.”
Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
