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2024-06-14 Down Under
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New Zealand Seeks To Scrap Exploration Ban to Reverse Gas Decline
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[OilPrice] New Zealand’s government is proposing the lifting of a 2018 oil and gas exploration ban as it seeks to halt a decline in domestic natural gas supply, boost energy security, and signal to international investors that it is open for business.
This week, the coalition government said it would introduce a bill in Parliament in the second half of 2024 to remove the ban on petroleum exploration beyond onshore Taranaki as part of a series of proposed amendments to the Crown Minerals Act.
Industry welcomed the government’s announcement as a step in the right direction to ensuring reliable, home-grown energy for all New Zealanders but noted that the return of exploration firms to the country would depend on the nature and extent of legislative changes and the perceived risk.
The removal of the ban is aimed at dealing with the energy security challenges posed by rapidly declining natural gas reserves, Resources Minister Shane Jones said. 
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Posted by Cleared Cookies Lost Nic 2024-06-14 00:00||
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Posted by Grom the Reflective 2024-06-14 02:34||
2024-06-14 02:34||
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Posted by Mullah Richard 2024-06-14 09:08||
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Posted by SteveS 2024-06-14 10:43||
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