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Source: Energy Resources Aotearoa New data showing a 2.6% increase in proved plus probable (2P) gas reserves estimates over the past year has been welcomed, but with a note of caution from Energy Resources Aotearoa. “It’s good news for New Zealand to see a small increase in the amount of reserves expected from the Maui and Turangi fields, given the current energy shortage we are grappling with,” says chief executive John Carnegie. “However, reserves are theoretical until actually produced. Investment into existing assets is underway which is great news in the medium ter...

The Government committed to the Paris Agreement and passed the Zero Carbon Act, both of which set 1.5C of warming as the target. In a statement, Woods said the permit announcements should not be a surprise to anyone. “In July 2018, Cabinet agreed to see out three block offers for onshore blocks in Taranaki: 2018, 2019 and 2020. This is part of that process.” The outcome of the 2020 application process would be announced next year. Woods said she will consider a range of factors before deciding whether the process would proceed this year. If this goes ahead, new permits could be issued...

The Government committed to the Paris Agreement and passed the Zero Carbon Act, both of which set 1.5C of warming as the target. Erica Finnie of 350 Aotearoa said the permit approval was disappointing and contradicted the Government’s action on cutting emissions. “What are we doing granting another 10 years for exploration permits in Taranaki? The Climate Change Commission’s advice to the Government has been really clear that we need to phase out fossil fuels,” she added. “There’s no room for new fossil fuel projects in the pathway,” Finnie said. “If the Government wants t...

Press Release – Energy Resources Aotearoa A new survey by BusinessNZ showing major increases in electricity and energy costs is another warning sign for the future, according to Energy Resources Aotearoa. “Its a real worry, but not surprising, to see big increases in energy costs for businesses … A new survey by BusinessNZ showing major increases in electricity and energy costs is another warning sign for the future, according to Energy Resources Aotearoa. “It’s a real worry, but not surprising, to see big increases in energy costs for businesses in this survey,” says chief execu...

New figures showing a near doubling of coal-fired electricity generation highlight New Zealand’s energy shortage and the need for natural gas as a lower carbon alternative, according to Energy Resources Aotearoa. 'It doesn’t seem right we are importing ...