Energy Resources Aotearoa welcomes today’s announcement from Resources Minister Shane Jones and Associate Finance Minister Chris Bishop on the implementation of the Government’s $200 co-investment fund for natural gas supply.

The changes mean the Gas Security Fund can now support a broader range of projects that help bring more gas to market sooner, store it for when it’s needed, and rebuild reserves for the future.

Chief Executive John Carnegie says the pragmatic move recognises the real pressures facing New Zealand’s energy system and is a sensible step to help address New Zealand’s gas supply challenges.

"Supporting a wider range of projects, from additional drilling in existing fields and production facility upgrades to exploration and appraisal drilling, can help lift gas supply in the near term and secure longer-term investments like greenfield exploration beyond Taranaki."

Carnegie says the decision shows the Government understands both the urgency of New Zealand’s gas shortages and the need to restore investor confidence after several difficult years.

"For too long, investors have been wary of committing capital to New Zealand’s petroleum sector because of the lasting impact of the previous exploration ban and the broader set of policy-induced risks.

Energy investors look for stability, clarity, and fairness. This announcement sends a strong signal that New Zealand is once again open for responsible investment in the gas projects that keep our energy reliable and affordable.

With gas reserves rapidly running down, our country faces a growing energy supply crisis, which is driving up electricity prices for households and threatening industries that rely on gas."

Carnegie says the focus on practical, investment-ready projects is exactly what’s needed.

"New Zealand can’t afford to wait. The proposed administrative arrangements are lean and agile, which should ensure that decisions can be made quickly."

Carnegie is pleased to see the announcement reflecting another clear example of pragmatic policy for the energy sector, but says cross-party support remains vital for future supply security.

"Secure and affordable energy should not be a partisan issue. Energy Resources Aotearoa will continue to call for durable, evidence-based settings that recognise the ongoing role of natural gas in supporting the electricity sector, and meeting household and industrial needs while emissions fall over time."

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