Gas is back on the...

Gas is back on the menu!

https://www.energynewsbulletin.net/policy/news/1443261/nz-opposition-to-bring-oil-and-gas-back

NZ Opposition to bring oil and gas back

NEW ZEALAND’s opposition has vowed to repeal the offshore oil and gas exploration ban established under the Labour Ardern government in 2018 which saw major companies exit the country.

National Party leader Christopher Luxon will take on the Labour Ardern government at New Zealand's federal election next year.

• Markets > Policy

• 14 November 2022
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Paul Hunt

Deputy Editor: Energy & Commodities

The Ardern government was elected in 2017 and campaigned on a platform of tackling climate change and announced a year later it would not issue new exploration licences offshore. It also limited onshore exploration to the Taranaki Basin.

This could be reversed if the major opposition National Party wins government at next year's election.

Current polling shows Labour's support at a five-year low as cost-of-living and inflation pressures mount.

Based on polling the Nationals could take a 10-seat majority and install centre-right leader Christopher Luxon as prime minister.

Shadow energy minister Stuart Smith delivered a speech to the Energy Trusts of New Zealand and Waipa Networks Association in Cambridge late last week where he called for "realism" in future energy policy.

He said the current government's target of 100% renewables was unachievable and gas would play an important part in the energy mix for decades to come.

"Gas will be part of the solution to deliver Net Zero," Smith said in quotes carried by Stuff.co.nz.

"We need gas to secure our electricity system and to keep energy affordable.

"That is why National has committed to restarting offshore oil and gas exploration."

He said.

The National party is not alone in efforts to repeal the ban.
The ACT party, which holds 10 seats in parliament, also supports such a move.

There is a very real chance that the two parties could form a coalition government in 2023.