Home / FLD / New Zealand announces biofuels target

New Zealand announces biofuels target

The New Zealand government is to require 3.4% of transport fuel sold by oil companies in the country to be biofuels by 2012, Prime Minister Helen Clark said in a speech to parliament February 13. The government said the decision to mandate biofuel use had been taken following consultation with potential biofuel producers and oil companies. Dave Bodger, General Manager of Gull New Zealand, says that Gull is still reviewing how the change from the proposed 2.25% sales obligation in 2008 to a 3.4% obligation in 2012 will affect Gull’s operations, but welcomed the Government’s move giving motorists a choice for a greener fuel. The move is expected to have little impact on fuel prices, although there could be a slight increase from 2010 to offset some of the initial cost of getting ethanol and biodiesel to the market. (February 14, 2007)