PEPANZ comment on draft Minerals and Petroleum Resource Strategy

“We welcome the effort by the Government to set a shared vision and provide some certainty to industries on the future direction of policy,” says Petroleum Exploration and Production Exploration Association of New Zealand (PEPANZ) CEO Cameron Madgwick.

“Meaningful consultation and careful consideration of evidence before making major decisions should lead to good policy outcomes.

“It’s pleasing to see the economic benefits of natural gas and oil recognised and their importance to our society and way of life.

“Around 400,000 New Zealand homes, schools, hospitals and businesses rely on natural gas. It provides energy for cooking, heating and hot showers and powers many of our most important industries.

“We would however like to see more recognition of how natural gas can help us transition to a lower carbon world. It can displace coal and encourage electrification by keeping the cost of electricity down.

“Carbon capture storage is also a vital technology that should be considered as a tool in lowering emissions. It is a reality around the world but needs a regulatory regime to specifically allow it here in New Zealand.

“The strategy should also consider the importance of energy security. It makes sense to produce our own natural gas and oil locally rather than importing it.”

The draft strategy is available at