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New Zealand Launches $1.2B Gas Transition Loan Scheme to Support Businesses

2 hours ago | 47 views

The New Zealand Government is launching the Gas Transition Loan Guarantee Scheme, offering up to $1.2 billion in bank loans with an 80% Crown guarantee to help businesses reduce gas dependency, protect jobs, and conserve dwindling gas supplies. Budget 2026 allocates $48 million to cover potential losses and $5.9 million to support businesses exploring alternative energy options, aiming to reduce gas use by up to 10 PJ annually while maintaining or increasing production. Additionally, new legislation will require improved transparency in gas supply and demand data to strengthen market confidence and inform better policymaking amid declining gas reserves and rising prices.

Tags: Nicola Willis Simeon Brown Shane Jones Gas Transition Loan Guarantee Scheme Budget 2026 New Zealand gas Energy Efficiency and Conservation Authority Gas Act LNG importation facility MBIE