The oil and gas industry is welcoming the first loans from the Government’s $200 million Gas Security Fund.

It's investing $23.5 million into two projects, including drilling a new well and accessing deeper gas at existing fields. 

Both with be run by Todd Energy, while there are 17 other proposals sitting on the Government's desk. 

Energy Resources Aotearoa CEO John Carnegie told Ryan Bridge the loans are being used for existing field and infrastructure, so they offer one of the quickest opportunities to get more domestic gas into the market sooner.  

He says if they're successful, both projects expect to have gas flowing by the end of 2027. 

Carnegie says this is a public-private partnership at its best. 

LISTEN ABOVE   

The oil and gas industry is welcoming the first loans from the Government’s $200 million Gas Security Fund.
It's investing $23.5 million into two projects, including drilling a new well and accessing deeper gas at existing fields.&nbsp;
Both with be run by Todd Energy, while there are 17 other proposals sitting on the Government's desk.&nbsp;
Energy Resources Aotearoa CEO John Carnegie told Ryan Bridge the loans are being used for existing field and infrastructure, so they offer one of the quickest opportunities to get more domestic gas into the market sooner. &nbsp;
He says if they're successful, both projects expect to have gas flowing by the end of 2027.&nbsp;
Carnegie says this is a public-private partnership at its best.&nbsp;
LISTEN ABOVE &nbsp;&nbsp;

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

John Carnegie: Energy Resources Aotearoa CEO on the Government's first investments from the Gas Security Fund

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/73dbe492-2163-433a-b38a-b4bf000bb319/transcript