Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

World Energy report shows New Zealand alone in rejecting gas

No other country appears to be following New Zealand’s ‘leadership’ in abandoning natural gas exploration, according to the International Energy Agency’s World Energy Outlook for 2018.

"Global demand for natural gas is forecast to grow strongly as a lower carbon, affordable and practical energy source," says Petroleum Exploration and Production Association of New Zealand (PEPANZ) CEO Cameron Madgwick.

"The report says that global demand for natural gas is likely to grow 45% by 2040 under the ‘New Policies’ scenario. Even under the most ambitious ‘Sustainable Development Scenario’ new investment into oil and gas is still required.

"Around the world natural gas is replacing coal which is helping lower emissions and energy costs.

"It’s also becoming an export industry as a number of massive projects are underway in places like Australia, Canada and Mozambique. This is a global industry New Zealand can and should be a part of.

"Instead of other countries following New Zealand’s example, they appear to be avoiding our mistake in ending new offshore exploration permits."

More information is available at https://www.iea.org/newsroom/news/2018/november/world-energy-outlook-2018-examines-future-patterns-of-global-energy-system-at-a-t.html


Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.