Energy Resources Aotearoa says gas producers were severely damaged by the previous ban on oil and gas exploration. 

It's asked the Government to underwrite the risk of oil and gas exploration. 

Government ministers say they've made no decisions. 

Energy Resources Aotearoa chief executive John Carnegie says it would only protect the sector from pernicious future policy changes. 

"Oil and gas exploration companies are worried that any investment they make in New Zealand could be eroded or stripped away if the Government changes."

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