What happened to New Zealand's gas reserves in 2024?

As at January 1st 2024, New Zealand’s gas reserves dropped 20 per cent (335 PJ) to 1,300 PJ. Of this decrease: 44 per cent (147 PJ) was due to gas extraction and use in the 2023 calendar year. 30 per cent (100 PJ) was due to reserves downgraded to contingent resources3.

When will the New Zealand energy strategy be published?

We will be updating this page over the course of the year. The strategy will be published by the end of 2024. The Government is developing the New Zealand Energy Strategy to support the transition to a low emissions economy, address strategic challenges in the energy sector, and signal pathways away from fossil fuels.

Does New Zealand have a long-term energy strategy?

New Zealand does not have a long-term energy strategy. In its May 2022 ERP, the government committed to developing such a strategy to achieve its vision for the energy and industry sectors.

What is New Zealand's energy strategy?

The government plans to promote the electrification of end-use sectors such as buildings, transport and industry, leveraging a renewables-based electricity system. The New Zealand Energy Strategy 2011-2021 set a target for 90% renewable electricity by 2025. Subsequently, the government set an aspirational goal of 100% renewable electricity by 2030.

What is New Zealand's energy self-sufficiency?

In 2023, national self-sufficiency remained unchanged in at 73 per cent. Key contributors to New Zealand’s energy self-sufficiency are coal and oil — Self-sufficiency: The ability of a country to meet its own energy supply needs through domestic production.

How many investment projects are there in New Zealand?

There is also a list of 145 investment projects which have been publicly announced (as at June 2024), with information on each project’s status. Projects range in size from 1MW to 1000MW and are predominantly wind and solar, but also geothermal, hydro and battery. They are geographically spread, but mostly in the North Island to match demand.