Source: Energy Resources Aotearoa
Energy Resources Aotearoa welcomes the introduction of the Crown Minerals Amendment Bill to the House, which will include reversing the 2018 ban on new gas exploration outside onshore Taranaki.
Chief Executive John Carnegie says reinstating exploration in new permit areas provides a welcome signal to industry and international investors that New Zealand is ‘open for business’.
“We urgently need more investment in exploration and production to ensure a reliable power supply and grow a flourishing, job-rich energy and resources sector.
“This Bill provides a more balanced pathway for investment and enables reliable, home-grown energy that can secure New Zealand’s energy future.”
Carnegie says the sector welcomes a return to sensible, pragmatic policy settings that fairly manage the upstream oil and gas sector.
“We have all seen how critical natural gas is for our electricity system, our factories and homes this winter, and actions to secure future gas supply show how we can have secure and affordable energy while achieving our long-term climate goals.
This Bill will help New Zealand reduce its reliance on coal to keep the lights on in our increasingly renewable weather-dependent energy system.” says Mr Carnegie.
The draft Bill outlines a more balanced regulatory framework outlining clear responsibilities for decommissioning and environmental impacts. It gives the public confidence that explorers and producers are clear in their responsibilities and that the government possesses the necessary regulatory tools to hold them accountable.
Energy Resources Aotearoa believes that affordable, reliable energy is crucial for the well-being and prosperity of all New Zealanders. We welcome the new legislation as an essential step in protecting our future energy security and well-being.
About Energy Resources Aotearoa
Energy Resources Aotearoa is New Zealand’s peak energy industry body. We represent participants from right across the energy system, providing a strategic sector perspective on energy issues and their adjacent portfolios. For further details about our members and to learn more about Energy Resources Aotearoa’s initiatives, please visit our website. https://www.energyresources.org.nz/
