The coalition Government is pushing ahead with plans to reverse the ban on oil and gas exploration outside onshore Taranaki.
Legislation to undo the 2018 ban will be introduced to Parliament in the second half of this year, Resources Minister Shane Jones announced on Sunday.
“When the exploration ban was introduced by the previous government in 2018, it not only halted the exploration needed to identify new sources, but it also shrank investment in further development of our known gas fields which sustain our current levels of use.
“Without this investment, we are now in a situation where our annual natural gas production is expected to peak this year and undergo a sustained decline, meaning we have a security of supply issue barrelling towards us.”
Greenpeace dismissed Jones’ plans as a “pipe dream”.