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New Zealand Energy Corp. Provides Update on Tariki Gas Storage Project
New Plymouth, New Zealand--(Newsfile Corp. - November 26, 2025) - New Zealand Energy Corp. (...
About this update from New Zealand Energy Corp.
[{"type":"text","content":"New Zealand Energy Corp. Provides Update on Tariki Gas Storage ProjectNew Plymouth, New Zealand--(Newsfile Corp. - November 26, 2025) - New Zealand Energy Corp. (TSXV: NZ) (\"NZEC\" or the \"Company\") is pleased to provide the following update regarding the ongoing work associated with the Tariki Gas Storage Project. NZEC, together with its joint venture partner L&M Energy Limited, has executed a non-binding memorandum of understanding (\"MoU\") with Genesis Energy Limited (\"Genesis\"), one of New Zealand's leading energy generators and retailers. The MoU formalizes a framework that commits the parties to collaborate exclusively on a programme of technical studies, commercial negotiations, and project development milestones required to progress the Tariki Gas Storage Project to a final gas storage services agreement which will then support moving towards a final investment decision and ultimately project completion and commercial operations. The MoU is a critical milestone that positions the Tariki Gas Storage Project to become a foundational asset in New Zealand's evolving energy market.Malcolm Johns, CEO of Genesis, stated, \"Genesis has recently enhanced our relationship with the Tariki Gas Storage Project through the execution of an MoU. This agreement sets out a clear programme to close out remaining studies and negotiations towards a gas storage services agreement.\"Subsurface and engineering work to confirm the Tariki Gas Storage Project's parameters continues to advance. Dynamic subsurface modelling to define the range of gas storage capacity, cushion-gas requirements, operating pressures, injection/withdrawal rates, and long-term storage behaviour is on schedule for delivery in December 2025. Gas storage facility development concept studies are underway, including surface facilities, compression, and operational configuration. NZEC has commenced recruiting additional personnel to expand its gas-storage development capabilities and support execution and delivery of the Tariki Gas Storage Project.NZEC continues to progress operational readiness requirements at the Tariki-A site. By the end of Q2 2025, velocity-string sizing was completed. Workstreams to plan temporary gas compression for Tariki-5A advanced through Q3 2025, including sourcing and tendering for required equipment and services. Based on curre...