Gull Welcomes Governments Ethanol Fuels Update

Gull Welcomes Governments Ethanol Fuels Update

Auckland, 13 February 2007 - Gull New Zealand, which was the first company to introduce environmentally-friendly low sulphur diesel to motorists, and has been an

advocate for introducing biofuels, says that it is supportive of the Government's announcement today requiring biofuel sales from 2008. Gull is particularly pleased that the Government has acted on Gull's advice on fuel specifications for petrol - ethanol blends.

Gull has been a strong advocate for the introduction of biofuels for Kiwi drivers, and has been in detailed discussions with the Government and interested parties to seek a waiver to the current Petroleum Products Specifications Regulations (PPSR's) which has been a barrier to providing alternative fuels into the New Zealand market. Now with updates to the PPSR's Gull can move forward and offer new fuels to the New Zealand motorist.

Dave Bodger, General Manager of Gull New Zealand, says the Gull is still reviewing how the change from the proposed 2.25 percent sales obligation to a 3.4 percent obligation will affect Gull's operations but welcomed the Government's move giving motorists a choice for greener, more sustainable future.

"Gull is very pleased that the Government has taken on board Gull's recommendation for a regulations update concerning petrol- ethanol blends and this will now give New Zealand motorists the option of driving with this new generation fuel. It is an exciting new chapter for the transport industry and Gull intends to offer Kiwi's the choice of biofuels in 2008," says Bodger.

Bodger says that Gull does not anticipate additional costs in producing a petrol - ethanol blend for Kiwi motorists and looks to a fuel that will give value at the pump with enhancements in octane. Given price increases are likely for a biodiesel blend with current production and base fuel costs, Gull's interest is much greater in the petrol – ethanol blend options.

In addition, Bodger says that Gull was the first company to introduce biofuels to Australian motorists in 2006 and has already gained a following for boidiesel in the West Australian market, and he expects that New Zealand drivers will also respond in a similar way to a green option of a petrol - ethanol blended fuel.

"Gull looks forward to talking further with Government agencies, Minister's and interested members of the public regarding today's biofuels decision".

ENDS

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