Todd Energy

What Todd Energy does

Todd Energy is a New Zealand-domiciled upstream and midstream energy company and a wholly owned subsidiary of Todd Corporation, a family-owned conglomerate established in 1884. The company produces natural gas from onshore fields in the Taranaki Basin (Kapuni, McKee, Mangahewa — 100% owned) and holds a 26% interest in the offshore Pohokura field, with a newly granted Petroleum Mining Permit for the Kārewa field (June 2025). Todd Energy's interests account for more than one-third of New Zealand's annual natural gas production, and its gas provides over 20% of the country's primary energy supply. Operations include specialized high-CO2 (44%) processing at the Kapuni Gas Treatment Plant, a 45 PJ/year combined processing station at McKee Mangahewa, and 200MW of fast-ramp gas-fired peaker generation (Junction Road and McKee Power Plants), each capable of reaching full capacity in 15 minutes.

The company operates a vertically integrated model spanning exploration, production, processing, power generation, and retail. Long-term contracts anchor demand from large industrial customers such as Methanex (10-year gas sales agreement targeting 450 PJ of contingent resources from Mangahewa) and Fonterra (long-term supply to the Whareroa co-generation plant since 1996), while subsidiary Nova Energy handles wholesale and retail sales of gas and LPG to commercial and residential customers. Revenue streams include natural gas, LPG (27,000 tonnes/year capacity), condensate and oil, electricity generation, and solar energy. Todd Energy owns its Big Ben drilling rig and operates petroleum storage at Paritūtū Tank Farm.

Todd Energy is in active transition alongside its core gas business. It commissioned a 2.1MW Kapuni Solar Plant in 2021 (NZ's largest grid-connected solar farm at the time), is building a 400MW Te Rahui Solar Farm joint venture with Meridian Energy, and was selected in March 2026 as preferred lead contractor for New Zealand's first superdeep, superhot geothermal exploration well. The company is committed to net-zero Scope 1 and Scope 2 emissions by 2045. It divested its Canadian subsidiary (Todd Energy Canada) in 2024 to refocus on New Zealand operations. The firm maintains ISO 9001, ISO 14001, AS/NZS 4801, and NZS 7901 certifications and operates as an Upper Tier Major Hazard Facility.

Name

Todd Energy

Legal name

Todd Energy Ltd

Website

https://toddenergy.co.nz

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

251–500 employees

Short description

Todd Energy is New Zealand's leading natural gas producer, operating onshore Taranaki fields and offshore acreage, and is expanding into renewable energy through solar and geothermal ventures. It serves industrial customers including Methanex and Fonterra, and retail customers via its Nova Energy subsidiary.

Ownership category

akta.pro rank

Product category

Natural Gas Production and Energy Generation

NAICS

Fossil Fuel Electric Power Generation (221112)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI)

akta.pro secondary industries

Binary Cycle (ORC/Kalina) Geothermal Power Plants (EUACAHAC), Gas-Fired Power Plant O&M and Life-Extension/Repowering Services (EUACABAJ), On-Site Gas Generation Systems (IMAEACAJ), Geothermal Power Plant EPC & Construction (Surface Facilities, Balance of Plant) (EUAMAEAE)

Keywords

• Natural gas production
• Onshore gas fields
• Gas processing services
• Gas-fired power generation
• LPG and condensate recovery

Headquarters

HQ city

New Plymouth

HQ country

New Zealand

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D, Others

Revenue model

1. Natural Gas Production and Sales: Todd Energy produces natural gas from its onshore fields (Kapuni, McKee, Mangahewa) and offshore fields (Pohokura, Kārewa). The gas is sold to industrial customers, commercial users, power generation facilities, and households. Nova Energy, a subsidiary, handles wholesale and retail selling of gas and LPG.
2. Condensate and Oil Sales: Production and sale of condensate and oil extracted alongside natural gas from producing fields.
3. LPG Production and Sales: LPG recovered from natural gas processing at Kapuni Gas Treatment Plant and McKee Mangahewa Production Station, sold through Nova Energy retail operations.
4. Electricity Generation: Operation of power plants (Junction Road 100MW, McKee 100MW) used by Nova Energy to supply electricity during times of high demand or when other generation is not available.
5. Solar Farm Operations: Operation of Kapuni Solar Plant (2.1MW) and construction/operation of Te Rahui Solar Farm (400MW joint venture with Meridian Energy).

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Todd Energy produces and processes natural gas from its onshore Taranaki fields (Kapuni, McKee, Mangahewa) and offshore fields (Pohokura, Kārewa), recovering condensate, LPG and natural gasoline. It generates electricity through gas-fired peaker plants (Junction Road and McKee, 200MW combined) and operates the Kapuni Solar Plant, with the 400MW Te Rahui Solar Farm in joint-venture development. Its subsidiary Nova Energy handles wholesale and retail sale of gas and LPG to households and commercial customers across New Zealand.

Product overview

Todd Energy is New Zealand's leading natural gas provider and a subsidiary of Todd Corporation. The company's core offering is natural gas production from onshore fields in Taranaki (Kapuni, McKee, Mangahewa), supplemented by power generation through the McKee and Junction Road gas-fired power plants. Nova Energy, Todd's subsidiary, handles wholesale and retail sales of the produced gas and LPG. Todd Energy is expanding into renewable energy with the Kapuni Solar Plant (2.1MW) and the Te Rahui Solar Farm joint venture (400MW with Meridian Energy). The company also operates petroleum storage (Paritūtū Tank Farm) and has developed PermitMe, an electronic permit-to-work system. Todd Energy operates as an Upper Tier Major Hazard Facility and has been selected as preferred contractor for New Zealand's first superdeep geothermal exploration well.

Differentiator

Problem solved

Functional benefit

Products and services

• Natural Gas Production Production of natural gas from onshore Taranaki fields including Kapuni, McKee, and Mangahewa, supplying gas that provides more than 20% of New Zealand's primary energy supply to industrial, commercial, power generation, and residential customers.
• McKee Mangahewa Production Station

Quantifiable outcome

• Natural gas provides more than 20% of New Zealand's primary energy supply
• +5 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

19 partnerships are on record, tiered major, core and minor.

• New Zealand Government (MBIE)majorStrategic or Co-development Partner · 1 January 2025Todd Energy selected as preferred lead contractor to drill New Zealand's first exploratory superdeep, superhot geothermal well at Rotokawa Geothermal Reservoir. Project targets depths of 5-6 km to explore supercritical geothermal resources for renewable energy development.
• Nova EnergycoreChannel Partner/ Reseller/ DistributorNova Energy is a subsidiary of Todd Corporation responsible for wholesale and retail selling of most of the gas and LPG Todd Energy produces in New Zealand. Nova Energy also uses Todd Energy's Junction Road and McKee Power Plants to supply electricity during high demand periods.
• Todd CorporationcoreOthersTodd Energy is one of a number of companies governed by Todd, a family-owned business established in 1884. Todd is one of New Zealand's oldest family-owned businesses that has helped drive the progress and prosperity of New Zealand.
• Otaraua HapūcoreStrategic or Co-development Partner11-year partnership with Otaraua Hapū includes environmental monitoring, biodiversity projects, cultural advisory, and support services across Todd's sites in Taranaki and Bay of Plenty. Named Community Initiative of the Year at 2025 NZ Energy Excellence Awards. Began with catering services for rig camps and grew to comprehensive collaboration.
• Ngāti MutungacoreStrategic or Co-development PartnerThree-year partnership extension confirmed for Taramoukou conservation project and new freshwater projects. Partnership includes Pohutukawa planting sourced from historically significant stand planted by Ngāti Mutunga ancestors.
• Meridian EnergymajorStrategic or Co-development PartnerJoint venture with Nova Energy for Te Rahui Solar Farm project located at Rangitāiki near Taupō. The 400MW solar farm, when complete, will power approximately 100,000 homes. Todd Energy responsible for construction through to ongoing operations and maintenance.
• Ngā Ringawera OtarauacoreStrategic or Co-development PartnerPartner for Te Mahere Rerenga Rauropi biodiversity project at Mangahewa D wellsite. Handled pre-spraying and provided plants for stage one of the biodiversity project.
• Te Kāhui MarucoreStrategic or Co-development PartnerPartner for Te Mahere Rerenga Rauropi biodiversity project, carrying out planting work with support from Tupu ā nuku and Ngā Ringawera Otaraua.
• East Taranaki Environmental Collective (ETEC)coreStrategic or Co-development PartnerTodd Energy supporting ETEC's pest eradication efforts at Everett Park Scenic Reserve for three years. Funding used to help re-gas and re-lure self-resetting traps targeting rats to enable biodiversity recovery.
• Taranaki Regional CouncilcoreStrategic or Co-development PartnerCollaborative partnership on biodiversity projects including McDonald's Glen restoration near Kapuni J wellsite, biodiversity planning, and environmental awards recognition.
• NP PartnersmajorStrategic or Co-development PartnerTodd Energy has invested more than $9 million in local projects through the NP Partners Programme over 20 years, supporting cornerstone projects including WOMAD, Todd Energy Aquatic Centre, and Len Lye Centre.
• Trees for SurvivalcoreStrategic or Co-development PartnerSupporting Trees for Survival's expansion to Taranaki with five new schools onboard. Programme enables school children to grow native plants and restore natural environment.
• Ngati Rahiri HapūcoreStrategic or Co-development PartnerPartnership for planting near Mangahewa C wellsite in north Taranaki as part of biodiversity project with other hapū.
• Parininihi ki Waitotara (PKW)coreStrategic or Co-development PartnerPartnership for planting near Mangahewa C wellsite with Otaraua Hapū, Ngati Rahiri Hapū and Tawhirikura Hapū.
• Tawhirikura HapūcoreStrategic or Co-development PartnerPartnership for biodiversity planting near Mangahewa C wellsite with other hapū partners.
• PowercocoreOthersTransmission and distribution network operator for natural gas in Taranaki region, connecting Todd Energy's production to end users.
• FonterracoreChannel Partner/ Reseller/ DistributorLong-term natural gas supply to Fonterra/Todd Energy co-generation plant at Whareroa (70MW) and Taranaki By-Products plant near Okaiawa. Partnership since 1996.
• MethanexcoreChannel Partner/ Reseller/ Distributor10-year natural gas sales agreement supporting Mangahewa Expansion Project targeting 450 PJ of contingent gas resources. Methanex uses gas feedstock at Motunui complex.
• New Plymouth District CouncilminorStrategic or Co-development PartnerTodd Energy achieved Gold status in NPDC's Resource Wise Business Programme in 2022 for waste reduction achievements.

Scale indicators11 records

Recent moves13 records

Expansion highlights6 records

Direct peers

• Contact Energy: New Zealand's largest listed electricity generator and gas retailer; operates a similar vertically integrated generation-retail model across thermal and renewable assets, competing for the same industrial and household customers.
• Genesis Energy: NZ state-controlled integrated energy generator-retailer with thermal, hydro, and wind capacity, directly comparable as a multi-fuel generator and gas/electricity retailer in the same market.
• Greymouth Petroleum Holdings: New Zealand's second-largest onshore gas producer operating in the same Taranaki basin with overlapping customer base and similar upstream-to-retail business model.
• OMV New Zealand: Operates NZ offshore production (Maari field, acquired from Todd in 2018) and competes for NZ upstream talent, capital, and resource development optionality in Taranaki.
• Meridian Energy: New Zealand's largest renewables generator and Todd Energy's JV partner on the Te Rahui Solar Farm; overlaps as both an electricity generator and renewable energy developer in the same geography.

Others

• Methanex Corporation: Long-term anchor customer for Todd Energy's Mangahewa gas (10-year contract) and operates the Motunui methanol complex in Taranaki; not a competitor but the single largest gas offtake partner and a key counterparty.

Broad incumbents

• Vector Limited: NZ infrastructure operator that previously owned the Kapuni Gas Treatment Plant sold to Todd; competes as a gas distribution and metering business with overlapping NZ energy infrastructure footprint.
• Infratil: NZ-headquartered infrastructure investor with material energy holdings (Mercury NZ, Tilt Renewables); comparable as a strategic investor in NZ energy transition assets and utility-scale renewables.
• Santos: Australian diversified upstream oil and gas producer where CEO Mark Macfarlane held management roles for 14 years; comparable regional E&P operator with similar oil, gas, and LNG business mix.

Regional players

• Eastland Group: Regional NZ infrastructure company with energy generation and distribution assets in Gisborne, comparable as a smaller-scale integrated NZ energy operator in adjacent geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Todd Energy