Source: MinterEllisonRuddWatts
Z Energy and Air New Zealand are collaborating to advance their decarbonisation plans by importing 1.2 million litres of Sustainable Aviation Fuel (SAF) from international supplier, Neste. Top law firm, MinterEllisonRuddWatts advised Z Energy on its contractual arrangements.
Produced by the world’s largest SAF supplier, Neste, and imported through a partnership between Z Energy and Air New Zealand, the first shipment will help test and set up the supply chain for importing SAF into New Zealand.
MinterEllisonRuddWatts partners Jane Parker and John Conlan, and Solicitor Kate Wilson advised Z Energy on its contract with Neste, as well as its arrangements with Air New Zealand (building on the existing fuel supply agreement between the parties).
“We are delighted to advise Z Energy on what is a significant sustainability milestone. Enabling the use of SAF is another way Z Energy is advancing its decarbonisation plan and leading the way in a transitioning industry,” says Jane Parker.
“This is an excellent example of how collaboration can achieve positive outcomes which help shape New Zealand’s future.”
Partner John Conlan agrees, saying: “The first shipment of SAF signals an important step in Z Energy and Air New Zealand’s – and New Zealand’s – effort to reduce carbon emissions. While this move allows Z Energy and Air New Zealand to establish and test the supply chain for future SAF imports, it also opens the door to other carriers seeking access to more sustainable jet fuel options.”
Z Energy’s Chief Executive Officer Mike Bennetts says it is investing in low-carbon revenue streams that benefit both customers and the planet.
“We support and recognise the need for SAF to become the norm in Aotearoa and it is a key part of Z Energy’s roadmap to support our customers on their journey to a low-carbon future. We are pleased to work alongside Air New Zealand and Neste to bring this shipment of SAF into the country and recognise collaboration with others will be essential to help us decarbonise at the scale and pace needed to address climate change.”
SAF is made from sustainably sourced, renewable waste and residue raw materials.
The first shipment, which is due to arrive this month, could fuel around 400 return flights between Auckland and Wellington, and will reduce lifecycle carbon emissions by up to 80%- compared to fossil jet fuel.
