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what was written in the reports
There were many concern's clearly stated when these report's were written
Impact of conversion to fuel terminal 23 March 2020
(extract)
The change of the Marsden Point facility to a fuels terminal would have a significant impact of New Zealand's fuel security including:
No ability in New Zealand to correct product that is significantly off-specification which needs to be taken into account with stock level decisions;
Possible issues with jet import availability if it all needs to meet a lower sulphur specification for transport via RAP;
No local supply of sulphur for fertiliser; replacement supply needed for CO2
Loss of technical processing expertise; and
Loss of ability to process New Zealand crude in a major supply emergency (global meltdown or pandemic where New Zealand might be isolated for a time).
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Fuel Security & Fuel Stockholding Costs and Benefits 2020
This is a new scenario to assess a product focused disruption rather than crude. We do not need to be specific about the particular scenario, other than it would be an event that impacted New Zealand’s normal product supply chains.
Hostilities or the threat of hostilities in North Asia that resulted in the cessation of product exports from South Korea and neighbouring countries;
Hostilities or the threat of hostilities in the South China Sea that resulted in the interruption of crude supplies to North Asia and product supply from China/Taiwan (and possibly North Asia); or
Interruption to Singapore exports from a pandemic or something similar in the region.
Unlike crude oil disruptions, there is no material available on the probability of an Asian product disruption.
A 2017 Wood Mackenzie study noted that "Global oil markets would be severely affected in the event of a regional conflict that affects South Korea, Japan and China, where about 65 percent of Asia's refining capacity is located"22.
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