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Port of Tauranga, the country’s largest and busiest port, has garnered resource consent approval for its long-awaited Stella Passage development.
The NZX-listed sea terminal – responsible for more than half the country's exports by value – has been stymied in progressing the berth and wharf extensions and capacity increases since 2019 by iwi and hapū opposed to the expansion.
The fast-track approval, the 34th project to be signed off since last February, took about five months since the appointment of the panel.
It involves extending the Sulphur Point container berth by 385 metres and the Mt Maunganui wharves by 315m. There is associated reclamation of the land behind the new wharves and dredging of the passage.
In a statement, the company said it was now reviewing the final decision and its conditions in detail. It is still subject to appeal rights under the Fast-track Approvals Act.
The Government’s $200 million Gas Security Fund, established in Budget 2025, has made its first loans, with two Taranaki projects run by Todd Energy receiving up to $23.5m.
The loans were announced on Monday by Associate Finance Minister Chris Bishop and Associate Energy Minister Shane Jones.
“These two projects, if successful, are expected to provide around four petajoules per year at peak production,” said Jones. “That’s equivalent to around 6 percent of New Zealand’s 2027 expected gas production.”
One loan of up to $7.3m will go to Todd’s McKee-Tariki Production Well Project, aimed at accessing more gas through an existing well, while up to $16.2m will go towards drilling a new well at the McKee Gas Cap Project.
Todd is to contribute $3.1m and $7m to the respective projects.