Business Scoop
Network

PEPANZ searching for analysis on offshore ban

Press Release – PEPANZ

The Petroleum Exploration and Production Association of New Zealand (PEPANZ) has lodged a series of Official Information Act requests with Government agencies today seeking the analysis behind the ban on offshore exploration for oil and gas.The Petroleum Exploration and Production Association of New Zealand (PEPANZ) has lodged a series of Official Information Act requests with Government agencies today seeking the analysis behind the ban on offshore exploration for oil and gas.

“We remain deeply concerned about this decision and the manner in which it appears to have been made,” says PEPANZ CEO Cameron Madgwick.

“It is concerning to still have no robust information from the Government on how this will impact New Zealand’s future energy security. Households and businesses need to know what will happen when known natural gas supplies begin to run out in just a few years’ time.

“The fact that some permits go through until the 2030s is little reassurance given that our gas supply will run out long before then without major discoveries.

“Even in the unlikely event they are all drilled, most exploration only has an average success rate of around 10% to 15%. It would be very risky to rely on hoping we strike it lucky when we need energy to keep the lights on and keep New Zealand moving.

“We have also requested what research, if any, has been done on what this ban means for domestic and global emissions. It is unlikely to have any real impact given that it does not impact demand and that other countries will easily fill any supply gap we leave.

“Using the OIA is an unusual step for us an organisation but reflects the seriousness of this issue.”

OIA requests have been lodged with:

– The Ministry for Business, Innovation and Employment (MBIE)

– The Ministry for Foreign Affairs and Trade (MFAT)

– The Department of Prime Minister and Cabinet (DPMC)

– The Environmental Protection Authority (EPA)

– The Ministry for the Environment

– The Treasury

ENDS

Content Sourced from scoop.co.nz
Original url