The New Zealand government will lift the ban on offshore oil and gas exploration

The New Zealand government announced on the 26th that it will pass a law by the end of this year to lift the previous Labour government’s ban on offshore oil and gas exploration,and take emergency measures to remove regulatory barriers to import liquefied natural gas in the face of energy shortages.New Zealand Prime Minister Rakson urged opposition parties to support the bill,stating that severe shortages in the past few weeks have caused the country’s energy prices to soar to the highest levels among developed economies.

New Zealand Energy Minister Simon Brown stated that natural gas production in New Zealand will decrease by 12.5%in 2023 and another 27.8%in the first quarter of 2024,due to a nationwide energy shortage caused by more coal and diesel generators being used to power the grid.Renewable energy sources such as hydropower,solar energy,and wind energy cannot fill this gap.Brown said that the New Zealand government will make the approval,construction,and maintenance of renewable energy generation,power distribution,and transmission easier and cheaper.The approval of most renewable energy projects will be completed within one year,and the government plans to launch the first round of feasibility permits for offshore renewable energy programs in 2025.