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Newsroom
12 hours ago
- Business
- Newsroom
The double-whammy bill natural gas users have to pay
A controversial $200-million fund for investment in local gas exploration aims to tackle ever-dwindling supplies, but it won't be soon enough for thousands of households trapped with gas connections they don't want, a consumer expert says. The four-year contingency fund to subsidise new fossil fuel fields was announced by Resources Minister Shane Jones at last month's Budget. Just weeks later, the Ministry of Business, Innovation and Employment revealed that our natural gas supply is running out faster than previously thought, with latest data showing reserves have fallen 27 percent from last year. But any new developments will take years, and gas households already face surging costs, says Paul Fuge, manager of Consumer New Zealand's Powerswitch. Residential consumers make up only 4 percent of the country's total gas use and Fuge says it won't be running out in the near future. But that is no consolation for gas customers who are being hit in the pocket twice. 'It costs more to have gas than electricity so an electricity-only house is much cheaper to run than a gas-electricity house because you can substitute all your gas appliances for electric appliances … but you can't run a TV on gas or your lights on gas,' says Fuge. That means gas customers have to have an electricity connection, which means double the costs of the infrastructure – gas pipes and electricity lines – needed to deliver the energy to people's homes. Gas customers are also locked out of cheaper electricity plans because most gas suppliers also demand that customers take their electricity. The companies that provide cheap electricity don't provide gas, Fuge says. Add to that the phasing out of low electricity charges for low users, which was a benefit for gas customers. 'What that means is people's electricity connections for the low users are getting more expensive every year over five years and that disadvantages gas customers,' he says. Customers who are renters are stuck with gas, as are people on low incomes because they can't afford to switch, Fuge says. He explains to The Detail why he thinks thousands of new households have connected to gas in recent years, despite rising prices. 'I wonder if it's when people are building new houses, developers may be putting in gas for various reasons.' The Ministry of Business, Innovation and Employment does not have specific figures for new connections but based on rising residential use, Fuge calculates that the number of household connections has increased by around 18,000 since 2019, to 290,000. Residential customers make up the smallest proportion of gas use. According to industry group GasNZ more than half a million New Zealand homes and businesses rely on gas and Liquified Petroleum Gas (LPG). There are 300 large industrial gas customers, from methanol exporter Methanex to dairy plants and wood processors. Newsroom senior political reporter Marc Daalder says the large industrial users are more imperilled by the declining gas supply, as well as the electricity generators that rely on gas. He says the coalition's plans to repeal a ban on new oil and gas exploration will not solve our dwindling gas supplies any time soon. 'The fastest we've had from a conversion from finding that gas to producing that gas is 10 years and it's hard to say in 2035 we know exactly what our gas needs are going to look like. 'The reality is they're probably going to be a lot lower because we're going to be electrifying everything and some of the industries that we've got that rely on gas are going to be electrifying or closing down.' The other option is finding more gas in the existing fields which has been going on consistently and continually for many years, including since the exploration ban was put into place. 'About a billion dollars has been spent trying to find extra gas in those existing fields and there have been a few minor successes but nothing major.' However, two fields are showing potential new gas finds, which the $200-million government co-investment fund could boost. 'Shane Jones would really like for the Government to be able to completely revitalise the gas industry and send people out looking for brand new gas in brand new places. The reality is we haven't found any gas in a brand new place for two decades or longer,' says Daalder. 'It's not like the Gulf of Mexico where there is all this gas sitting there. The resource probably isn't that strong; $200 million isn't going to suddenly make it commercial to take that big of a gamble.' Check out how to listen to and follow The Detail here. You can also stay up-to-date by liking us on Facebook or following us on Twitter.
Time of India
18-06-2025
- Time of India
Nashik: Police detain man for running illegal gas refilling centre
Nashik: The Nashik city police have detained a person operating an illegal gas refill centre on the Wadala-DGP Road. Authorities also seized property worth over Rs1 lakh, including 4 domestic Liquified Petroleum Gas (LPG) cylinders, an electronic gas refilling machine, a gas regulator, and a weighing machine. The central crime branch, led by inspector Anchal Mudgal, busted the operation. The crackdown followed instructions from police commissioner Sandeep Karnik to investigate illegal businesses within the city. On Tuesday, while patrolling the Mumbai Naka, Indiranagar, and Upnagar areas, assistant police inspector Pravin Mali received a tip-off about the illicit refilling station. Police immediately raided the tin shed facility, finding two individuals refilling LPG from a domestic cylinder into an autorickshaw. Last month, the crime branch unit 2 had raided an illegal gas refill centre in the Nashik Road area and seized 63 domestic gas cylinders. Three people were detained, besides seizure of gas cylinders and machinery worth over Rs2.5 lakh. In April, the city police had detained two people and recovered 13 gas cylinders, three motors, and three weighing machines, all worth Rs1.2 lakh. The illegal gas refill centre was in Shramik Nagar area of Satpur.
Business Standard
12-06-2025
- Business
- Business Standard
Aegis Logistics' arm commissions Cryogenic LPG terminal at Mangalore
Aegis Logistics has announced that its wholly owned subsidiary, Sea Lord Containers (SCL), has commissioned a cryogenic Liquified Petroleum Gas (LPG) terminal at Mangalore. The terminal, which has a static storage capacity of 82,000 metric tonnes, commenced operations on 12 June 2025, for the storage and terminalling of liquified petroleum gases. The said terminal, developed by SCL on behalf of Aegis Vopak Terminals, an associate company, the terminal will be transferred to Aegis Vopak Terminals at a later date. The company will provide further updates to the stock exchanges in due course. Aegis Logistics is engaged in the import and distribution of liquefied petroleum gas (LPG), as well as the storage and terminalling of LPG, petroleum, oil, and chemical products. The company also undertakes the construction of terminals and allied infrastructure to support its logistics and energy operations. The companys consolidated net profit declined 4.5% to Rs 124.25 crore on an 8.9% fall in net sales to Rs 1,706.99 crore in Q4 FY25 over Q4 FY24. The scrip shed 0.04% to Rs 802.30 on the BSE.
Business Standard
12-06-2025
- Business
- Business Standard
Aegis Logistics announces commissioning of cryogenic LPG terminal at Mangalore
Aegis Logistics announced that Sea Lord Containers (SCL), wholly owned subsidiary of the Company has commissioned its cryogenic Liquified Petroleum Gas (LPG) terminal at Mangalore for storage & terminalling of liquified petroleum gases with static storage capacity of 82,000 MT w.e.f. June12, 2025. The said terminal, which is developed by SCL on behalf of Aegis Vopak Terminals, an Associate Company, would be transferred subsequently.
Business Upturn
12-06-2025
- Business
- Business Upturn
Aegis Logistics commissions cryogenic LPG terminal in Mangalore via subsidiary Sea Lord Containers
By Aditya Bhagchandani Published on June 12, 2025, 11:52 IST Aegis Logistics Limited announced that its wholly owned subsidiary, Sea Lord Containers Limited (SCL), has successfully commissioned a cryogenic Liquified Petroleum Gas (LPG) terminal in Mangalore as of June 12, 2025. The terminal boasts a static storage capacity of 82,000 metric tonnes and is intended for storage and terminalling of LPG. This new infrastructure asset was developed by SCL on behalf of Aegis Vopak Terminals Limited, an associate company. Aegis stated that the transfer of this terminal to the associate entity will be communicated separately to the stock exchanges in due course. The commissioning marks a significant milestone in Aegis Logistics' expansion in the LPG storage and handling space, strengthening its infrastructure presence along India's western coast. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
