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Oil, gas industry almost half of New Zealand's marine economy: report

Xinhua, October 27, 2016 Adjust font size:

The oil and gas industry accounted for up to 48 percent of New Zealand's marine economy in the year to March 2013, the government statistics agency said in a new report Thursday.

Overall the marine economy directly contributed 1.9 percent, or 4 billion NZ dollars (2.86 billion U.S. dollars), to total gross domestic product (GDP) in the March 2013 year, about the same as in 2007, said the Statistics New Zealand report.

Offshore minerals, mainly oil and gas extraction and exploration, was the largest contributor to the marine economy, at 48 percent, while shipping contributed 24 percent, and fisheries and aquaculture contributed 22 percent.

An additional 3.7 billion NZ dollars (2.64 billion U.S. dollars) was estimated to have been generated through supporting industries, contributing a total 3.5 percent of GDP.

In terms of employment, the marine economy supported 102,400 filled jobs, of which 47 percent were in shipping and 46 percent in fisheries and aquaculture.

"While New Zealand's marine economy is slightly smaller than global estimates, it still constitutes a significant part of our economy," environmental statistics manager Danny Oberhaus said in a statement.

The report was released in conjunction with another report on New Zealand's marine environment issued by the Ministry for the Environment and Statistics New Zealand.

It listed greenhouse gas emissions as one of three serious concerns for New Zealand's oceans and marine wildlife, as carbon dioxide emissions resulted in warmer and more acidic seas.

Environment campaigners and opposition lawmakers on Thursday called for greater action in curbing New Zealand's high per-capita greenhouse gas emissions and further protections for marine environments and wildlife.

The Petroleum Exploration and Production Association of New Zealand (PEPANZ) said the marine economy report showed oil and gas production and exploration was "incredibly important" to the New Zealand economy.

"There is strong potential for growth in the contribution that oil and gas exploration and production makes to our marine economy over the coming years," PEPANZ chief executive Cameron Madgwick said in a statement. Endit