MBIE now foresees annual gas production below 100 petajoules by 2026 versus 2029

A drilling programme now under way at Mangahewa. (Image: NZME)

Thu, 05 Jun 2025

The Ministry of Business, Innovation and Employment now expects annual gas production to fall below 100 petajoules by 2026, versus its prior forecast of 2029.New Zealand’s natural gas reserves were 27% lower on the year on Jan. 1 as “reserves continue to reduce faster and sooner than previously forecast”, said Karlene Tipler, head of data service delivery for MBIE. “In 2024, natural gas proven plus probable (2P) reserves reduced from 1300 PJ to 948 PJ. The reduction in natural gas reserves is largely driven by field...

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