Energy Minister, Simon Watts has joined international leaders and businesses at the Indo-Pacific Energy Security Ministerial and Business Forum in Japan.
“As the world grapples with the recent events in the Middle East and heightened geopolitical uncertainty, energy security has never been more important to the economic prosperity of New Zealand and our partners in the Indo-Pacific region,” Mr Watts says.
The Minister said New Zealand’s attendance at the Indo-Pacific Energy Security Ministerial and Business Forum was essential to reaffirming our commitment to securing global energy supply chains, particularly for liquid fuels.
“While the conflict in the Middle East continues to be disruptive to international oil markets and the global economy, New Zealand is prepared for a disruption to fuel supply. Our fuel system is resilient, our stocks are healthy, and our plans are built precisely for moments like this. We are actively monitoring the fuel security situation for New Zealand and remain in close contact with fuel companies.”
“In the light of the International Energy Agency’s (IEA) decision to proceed with collective action, attending the Forum is a valuable opportunity to engage directly with New Zealand’s closest trading partners in the Indo-Pacific region and emphasise the importance of international collaboration.”
Mr Watts will attend the forum from 14 to 15 March and return to New Zealand on Monday.
