Is There A Gas Shortage 2024 Nz. Mbie’s annual petroleum reserves report detailing a 20 per cent reduction in new zealand’s natural gas reserves shows the need to reverse the oil and gas exploration ban,. The coalition government's decision to reverse the ban on new oil and gas exploration aims to address nz’s energy security due to rapidly depleting natural gas reserves.
Gas production forecast to fall below demand. Natural gas makes a significant contribution to new zealand’s energy mix and to the economy.