{"id":189554,"date":"2025-12-18T06:20:09","date_gmt":"2025-12-18T06:20:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/189554\/"},"modified":"2025-12-18T06:20:09","modified_gmt":"2025-12-18T06:20:09","slug":"shane-jones-opens-200m-gas-security-fund-for-proposals-next-month","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/189554\/","title":{"rendered":"Shane Jones opens $200m gas security fund for proposals next month"},"content":{"rendered":"<p class=\"vUWuwjCGukMuO\" style=\"display:none\">A gas advisory panel is being established to ensure decisions are informed by deep commercial and technical expertise, particularly given the complexities of gas exploration and market conditions in New Zealand.<\/p>\n<p class=\"vUWuwjCGukMuO\" style=\"display:none\">The panel would provide expert technical advice to the decision-making ministers, who are Jones and Associate Finance Minister Chris Bishop.<\/p>\n<p class=\"vUWuwjCGukMuO\" style=\"display:none\">The fund\u2019s opening date for expressions of interest is January 12.<\/p>\n<p class=\"vUWuwjCGukMuO\" style=\"display:none\">Jones said the Government was moving \u201cat pace\u201d to restore confidence in the gas sector, which was affected by the previous Labour-led Government\u2019s ban on new offshore exploration in 2018.<\/p>\n<p class=\"vUWuwjCGukMuO\" style=\"display:none\">In May, as part of the Budget, the Government set aside $200m of tagged contingency over four years for a Gas Security Fund, which was aimed at addressing the waning gas supply and restoring investor confidence.<\/p>\n<p class=\"vUWuwjCGukMuO\" style=\"display:none\">Last month, the Government announced the fund\u2019s scope was to be expanded to enable a broader range of investments to accelerate or increase gas supply in the short, medium and long term.<\/p>\n<p class=\"vUWuwjCGukMuO\" style=\"display:none\">Last year, the faster-than-expected run-down of offshore gas reserves helped to drive a spike in wholesale power prices to $820 a megawatt hour (MWh) compared with a previous winter average of about $150MWh.<\/p>\n<p class=\"vUWuwjCGukMuO\" style=\"display:none\">Gas accounts for about 8% of New Zealand\u2019s electricity generation.<\/p>\n<p>Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our <a href=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\">Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"A gas advisory panel is being established to ensure decisions are informed by deep commercial and technical expertise,&hellip;\n","protected":false},"author":2,"featured_media":141826,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[8038,78777,82259,12067,3334,138,2082,295,16460,83644,2176,1132,6722,4486,111,139,1536,69,5493,2680,23471,8279,312,2437,7228,1533],"class_list":["post-189554","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-natural","tag-78777","tag-200m","tag-aimed","tag-availability","tag-business","tag-for","tag-fund","tag-gas","tag-increasing","tag-jones","tag-million","tag-minister","tag-month","tag-new-zealand","tag-newzealand","tag-next","tag-nz","tag-open","tag-opens","tag-proposals","tag-resources","tag-says","tag-security","tag-shane","tag-will"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/189554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=189554"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/189554\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/141826"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=189554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=189554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=189554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}