First day of import terminal operations at Marsden Point
For immediate release
Channel Infrastructure, the Marsden Point fuel import terminal has today officially launched, with trading opening on the new company, CHI, on the NZX this morning.
Channel Infrastructure, the Marsden Point fuel import terminal has today officially launched, with trading opening on the new company, CHI, on the NZX this morning.
Commenting, CEO Naomi James said: “This is a significant milestone for the Company. After 60-years of operations as New Zealand’s only oil refinery, we look back on our past with pride, and because of this change, we can now also look to the future with confidence that we have a sustainable business that will continue to contribute to our community, and New Zealand, long into the future.”
Over the past two weeks, the dedicated team have been working hard to safely shut down the refinery process units and will now begin to decommission these assets. The long-term Terminal Services Agreements with customers bp, Mobil and Z Energy have commenced today, and the first import shipment is expected to discharge at Marsden Point in the coming days.
Ms. James added: “I want to acknowledge the dedication and commitment of our workforce over the last two years, and in the past few weeks as we completed the safe shutdown of the refinery, while ensuring that we have continued to safely and reliably keep New Zealand supplied with its fuel needs.”
“We have been discussing a potential change to our business for two-years now, since we commenced our strategic review with the goal of determining the best way for our business to have a long-term and sustainable future in the face of the most difficult operating environment in our history.”
“As difficult as change can be, we also know that with change comes opportunity, and we are excited by the growth opportunities we have ahead of us at Marsden Point site, whether that’s additional fuel storage to support fuel security, renewable electricity supply through the Maranga Ra solar project or the work underway with customers and partners on biofuel and hydrogen opportunities. As Channel Infrastructure we are committed to supplying the fuel that New Zealand families, businesses, and the economy needs to keep moving, and we are looking forward to the next stage in our journey”
Next week, the company will release its first sustainably report, which will outline further detail about how Channel Infrastructure will contribute to New Zealand’s energy transition in the years ahead.
ENDS
