Articles tagged with Natural Gas
New Offshore Petroleum Exploration Permit Granted in Taranaki Basin, NZ
1 week ago | 176 viewsNew Zealand has granted its first new offshore petroleum exploration permit since reversing the ban, awarding Australian company EnZed Energy a 12-year permit for a 546 sq km area east of the Kupe gas field in the Taranaki Basin. This move signals renewed investor confidence and aims to address declining natural gas reserves, which have dropped 23% to the lowest level in over two decades, emphasizing the importance of exploration for future energy security. The government highlights that natural gas remains crucial for electricity generation and industry, and exploration is essential to assess New Zealand’s remaining resource potential.
Tags: Shane Jones EnZed Energy New Zealand Petroleum and Minerals Kupe gas field Taranaki Basin Kaheru prospect Coalition Government petroleum exploration natural gas energy security$200M Gas Security Fund Opens Jan 12, 2026 to Boost NZ Natural Gas Supply
7 months ago | 1088 viewsThe $200 million Gas Security Fund, opening on 12 January 2026, aims to increase natural gas availability in New Zealand by supporting projects that accelerate supply or enable storage for critical demand periods. Declining gas production is raising costs and hindering economic growth, making natural gas essential during the transition to renewable energy sources. A new gas advisory panel will provide expert guidance to ministers, ensuring informed decisions amid the complexities of gas exploration and market conditions.
Tags: Shane Jones Chris Bishop Gas Security Fund New Zealand natural gas Ministry of Business Innovation and Employment Kānoa Grow Regions gas exploration energy transitionNew Zealand Petroleum Exploration Permits Open in September: Crown Minerals Amendment Bill Impact
1 year ago | 1713 viewsThe Crown Minerals Amendment Bill, following its third reading, will allow operators to apply for new petroleum exploration permits starting in September. The Bill removes the ban on oil and gas exploration beyond onshore Taranaki, introduces a new tier of permit for small-scale non-commercial gold mining, and aims to boost investment in Crown-owned minerals. Changes in liability for decommissioning costs and the need for clarity in regulatory burden and risk are also addressed in the Bill to enhance investor confidence and energy security.
Tags: Shane Jones petroleum exploration permits Crown Minerals Amendment Bill oil and gas exploration energy security natural gas decommissioning investment liability