The country is not going to produce enough gas to meet expected demand in at least the next three years, according to the latest data from MBIE.
New Zealand uses about 150 petajoules a year - similar to the amount it consumes in electricity - but field operators expect to be able to extract only 140 petajoules in each of the next 3 years.
While it is estimated the fields hold 1827 petajoules in total, only 70 per cent is commercially available, and only 7.5 percent is being drawn per year.
Energy Minister Simeon Brown says the numbers are "very concerning" and will stifle economic growth and the Government has commissioned a study on options for ways to find new gas supply in the short term.
Kathryn speaks with John Kidd, head of research at advisory firm Enerlytica.
Photo: Beach Energy
