The Resources Minister says the Government loan book is necessary to entice business back to the gas industry. 

It's investing $23.5 million in two Taranaki projects from its $200 million Gas Security Fund, including drilling a new well and accessing deeper gas at an existing field. 

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

Shane Jones told Mike Hosking there needs to be incentives. 

He says people are unwilling to invest on their own and a take a risk if there's a prospect the sector will be closed down again. 

The Government's touting thousands of homes could be powered if the gas investment is successful. 

Todd Energy's projects could produce an additional four petajoules a year – equivalent to the energy consumed by 120-thousand homes.  

Jones told Hosking it could unlock up to 19.9 petajoules of additional gas reserves. 

LISTEN ABOVE   

The Resources Minister says the Government loan book is necessary to entice business back to the gas industry.&nbsp;
It's investing $23.5 million in two Taranaki projects from its $200 million Gas Security Fund, including drilling a new well and accessing deeper gas at an existing field.&nbsp;
Both with be run by Todd Energy, and there are 17 other proposals sitting on the Government's desk.&nbsp;
Shane Jones told Mike Hosking there needs to be incentives.&nbsp;
He says people are unwilling to invest on their own and a take a risk if there's a prospect the sector will be closed down again.&nbsp;
The Government's touting thousands of homes could be powered if the gas investment is successful.&nbsp;
Todd Energy's projects could produce an additional four petajoules a year – equivalent to the energy consumed by 120-thousand homes. &nbsp;
Jones told Hosking it could unlock up to 19.9 petajoules of additional gas reserves.&nbsp;
LISTEN ABOVE &nbsp;&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

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Shane Jones: Resources Minister on the first two projects funded by the Gas Security Fund

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/00f230c4-fad2-4c7f-99fd-b4be014b5908/transcript