New report highlights important energy questions
A new report is highlighting key energy challenges and opportunities facing New Zealand, in particular questions over our future supply of natural gas.
The publication 鈥淎sking the Burning Questions鈥� is from the Petroleum Exploration and Production Association of New Zealand (PEPANZ) and highlights three urgent questions facing New Zealand:
- What happens if our natural gas supply continues to decline?
- What does a declining gas supply mean for our emission goals?
- Do we have the right policy settings, given the changed environment for the oil and gas sector?
鈥淚n the absence of new exploration permits, we are now effectively in a closed and contracting system with rapidly shrinking natural gas reserves and shrinking opportunities to replace them,鈥� says PEPANZ Chief Executive John Carnegie.
鈥淣atural gas production is forecast to shrink 60% over the next 10 years which could increase costs for 天美直播s and businesses.
鈥淭his has implications for the many industries who rely on natural gas to invest and create exports and jobs. Using our locally produced energy is a much better option than relying on other countries through imported LNG.
鈥淚t would also hamper global efforts to reduce emissions if industries moved overseas and used coal instead.
鈥淩enewable energy is great but it isn鈥檛 anywhere near affordable, reliable or practical enough yet to replace all the roles of natural gas.
鈥淭he answers to these questions will help us navigate an informed, evidence-based course towards a prosperous New Zealand with affordable, reliable and sustainable energy.鈥�
The publication is available at https://www.pepanz.com/dmsdocument/152