Gerry Brownlee

The $1.3 billion Kupe Gas Project in Taranaki was officially opened by the Prime Minister John Key today.

The gas produced from the field will meet approximately 15 per cent of New Zealand's annual gas demand and approximately 50 per cent of New Zealand's LPG demand for the next 15 to 20 years.

"The commissioning of the Kupe Gas Project is an important milestone in the development of the New Zealand petroleum sector," Energy and Resources Minister Gerry Brownlee said.

"Not only does Kupe play an important part in New Zealand's energy infrastructure, it perfectly illustrates the important role the gas and oil industry can and do play in securing a better future for New Zealand.

"Origin estimates that around 375 New Zealand companies supplied or provided services to the Kupe project, and the value of orders placed in New Zealand was $620 million. Over the last three and half years, 4.4 million man-hours were expended on the project by New Zealand suppliers and workers.

"The Taranaki oil and gas industry accounts for almost 90 per cent of the sector's nationwide workforce. As New Zealand's frontier basins are explored, and our petroleum potential is reached, I look forward to seeing the same regional development in other parts New Zealand.

"My congratulations go to the joint venture owners, suppliers, contractors and the Taranaki community who have all played a major part in completing a first-rate project. New Zealanders should be proud. This is a world-class facility and New Zealanders have been instrumental in its development," Mr Brownlee said.