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Government says reversing the ban will bolster energy security
Green Party labels the move a backward step for climate aims
New Zealand’s government is pressing ahead with plans to lift a ban on offshore petroleum exploration, citing energy security challenges from “rapidly” declining natural gas reserves.
Gas is “critical” for the economy during periods of peak electricity demand and when generation dips from more intermittent sources such as wind, solar and hydropower, Resources Minister Shane Jones said in a statement on Sunday.
Read more: New Zealand Third-Quarter Power Generation Used More Fossil Fuel
Prime Minister Christopher Luxon’s administration had pledged to resume offshore oil and gas prospecting following last October’s election. Officials are also trying to speed up the construction of renewable plants.
New Zealand stopped offshore oil and gas exploration permits in 2018 under then-leader Jacinda Ardern but continued to allow onshore projects.
The post New Zealand Set to Scrap Oil, Gas Exploration Ban in Second Half appeared first on Energy News Beat.
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