Jonathan Young - Energy and Resources

18 July 2018

Methanex’s announcement that they have secured gas contracts through to 2029 is a much-needed confidence booster for the Taranaki region after being hung out to dry by the Coalition Government, National’s Energy And Resources spokesperson Jonathan Young says.

“Agreements like this enable exploration and production companies to confidently explore for more resources which according to current MBIE estimates, will need replenishing with further discoveries by 2029,’’ Mr Young says.

“This decision will certainly bolster confidence in the Taranaki region after the Government announced they will not be issuing any new offshore exploration licences and will be reviewing whether the same will apply to onshore after the next election.

“I have certainly conveyed to Methanex that the National Party have a different attitude than the Coalition Government, that we will support future exploration while we also tackle the issues around climate change, in partnership with the hydrocarbon sector.

“Methanex’s considered approach is in stark contrast to the Government’s decision on a whim in April to bring a halt to future oil and gas exploration in New Zealand without any consultation with the industry itself.

“It is clear that this decision is having and will continue to have significant consequences for people’s jobs, the economy, and the environment.

“This Government must go back to the drawing board and come to a new decision based on evidence and advice about what’s good for New Zealand.”

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