Abstract
Supply and demand forecasts to 2020 published by the Ministry of Commerce highlight the significance of the depletion of the Maui gas and condensate field for the New Zealand energy scene. Maui currently produces around 34% of our primary energy and 45% of our transport fuels, including fuel from the synthetic fuels plant. The depletion of Maui around 2010 is expected to reduce our liquid fuel self-sufficiency and reduce the availability of gas for electricity generation and petrochemicals. The Ministry's forecasts conclude this will result in price rises for gas and electricity, and increased use of coal, geothermal, hydro, wind and other renewables for generation. The depletion of the Maui field highlights the importance of developing an attractive petroleum royalty regime to encourage further exploration of New Zealand's petroleum resources.
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