A successful Waikato coal-seam gas project which supplies enough energy for more than 500 homes showed how New Zealand is "now the lucky country" for its energy resources, Solid Energy chief executive Don Elder says.
Speaking at the state-owned company's maiden annual meeting in Auckland yesterday, Dr Elder dodged the sniping remarks of protesting environmentalists by talking up New Zealand as perfectly placed to exploit growing demand for coal.
The coal-seam gas scheme was the first of its type in New Zealand.
The scheme was adding up to one megawatt of electricity to the national grid. "Our resources in the Waikato are potentially as big as Kupe gas field and could provide up to 10 per cent of New Zealand's gas supply," Dr Elder said.
Gas from Solid Energy's four Huntly wells contain only 1 per cent carbon dioxide and 98 per cent energy-rich methane. The gas has a lower carbon footprint than conventionally produced natural gas, which up till now was New Zealand's cleanest thermal power source, Dr Elder said. Read more...
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