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Simeon Brown: Energy Minister on New Zealand's natural gas reserves reaching a two-decade low
Natural gas reserves have plummeted to the lowest level in two decades.
Latest MBIE annual petroleum reserves data shows a 23% decline in the country's natural gas reserves.
Energy Minister Simeon Brown says many of our gas fields are coming to the end of their life, with our largest gas field, off the coast of Taranaki, set to close this year.
He told Ryan Bridge new gas fields haven't been discovered in a long time, and the domestic oil and gas industry needs to be reinvigorated.
Brown says if no new gas fields are found, then the country needs to look at alternatives.
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