Photo by: Bloomberg
PERTH (miningweekly.com) – The New Zealand government has announced that no new future offshore oil or gas exploration permits would be granted, in a bid to address climate change.
“All three of the parties in this government are agreed that we must take this step as part of our package of measures to tackle climate change. I’m grateful for the support of New Zealand First in ensuring the transition away from fossil fuels protects jobs and helps regions equip themselves for the future,” Prime Minister Jacinda Ardern said.
“In each of the last two years only one permit has been granted for offshore oil and gas exploration. This decision does not affect current reserves or the potential finds from current exploration permits. As the industry itself admits, there is good potential for more to be found.
“This is a responsible step which provides certainty for businesses and communities that rely on fossil fuels. We’re striking the right balance for New Zealand - we’re protecting existing industry, and protecting future generations from climate change,” said Ardern.
Energy and Resources Minister Megan Woods announced that this year’s block offer would be limited to onshore acreage in Taranaki alone.
“We are protecting existing exploration and mining rights. No current jobs will be affected by this, as we are honouring all agreements with current permit holders,” Woods said.
“There are 31 oil and gas exploration permits currently active, 22 are offshore. These permits cover an area of 100 000 km2, nearly the size of the North Island, and run as far out as 2030 and could go an additional 40 years under a mining permit.
“Today, we are providing certainty for industry and communities so they can plan for the future. We are making careful and considered changes over time and supporting communities with a managed transition.”
Woods said that the government would be working with the Taranaki community and businesses in particular on this as a long-term project.