OPERATIONS

New Zealand gas reserves fall over 5% as energy crisis heats up

Gas reserves in New Zealand have fallen by over 5% according to the latest government statistics, which is largely due to oil and gas explorers leaving the country after prime minister Jacinda Ardern banned new offshore exploration.

paul hunt

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The data showed that proven and probable (2P) reserves of oil and gas had fallen 5.1% in the last 12 months. 2P Gas reserves stood at 1967 petajoules at 1 January 2022, down from 2074 PJ a year earlier. ...

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