Prime minister Jacinda Ardern has announced an end to New Zealand’s offshore oil and gas exploration.
“There will be no further offshore oil and gas exploration permits granted,” she says.
There are 31 oil and gas exploration permits currently active with 22 offshore.
These permits cover an area of 100,000 square kilometres and run as far out as 2030.
All agreements with current permit holders will be maintained to the end, Ardern says.
“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.
“We will be working with the Taranaki community and businesses in particular on this as a long term project and I will be visiting myself later in May to underline this Government’s commitment to ensuring there is a just transition to a clean energy future.
“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,” Ardern says.
