Update, 2.43pm: There is no tsunami threat to New Zealand following a 7.1M earthquake that has struck southeast of Loyalty Islands at 1.51pm today, Saturday May 20.

The National Emergency Management Agency - NEMA has assessed the information with the assistance of GNS Science advisors.

"Based on current information, the initial assessment is that the earthquake is unlikely to have caused a tsunami that will affect New Zealand," says a NEMA spokesperson.

This Advisory has been issued to all local Civil Defence authorities, emergency services, other agencies and media.

This will be the final message via the National Warning System for this event unless the event parameters change significantly.

Earlier, 2.12pm: The National Emergency Management Agency - NEMA and GNS Science are assessing whether the 7.1M earthquake that has struck southeast of Loyalty Islands at 1.51pm today, Saturday May 20, has created a tsunami that could affect New Zealand.

If a tsunami has been generated in this location it is not likely to arrive in New Zealand for at least one hour.

This National Advisory has been issued following a rapid assessment of preliminary earthquake information.

The situation may change as more information becomes available.

"We will provide an update when we have completed a further assessment," says a Nema spokesperson.

Updates will be published on www.civildefence.govt.nz.

Only messages issued by the National Emergency Management Agency represent the official warning status for New Zealand.