Article

The LNG Terminal project costs $2.7 billion, funded by households, while the NZ Steel project cost $140 million to replace a coal furnace with an electric arc furnace. Estimated greenhouse gas benefits from the LNG project are 0.284 Mt CO₂-e, compared to NZ Steel's projected 0.8 Mt CO₂-e annually.

The NZ Steel project, funded by EECA, was expected to contribute significantly to emissions reductions but was denied new funding. The LNG project may lead to higher electricity prices, while NZ Steel aims to reduce coal usage and government ETS costs by approximately $30 million annually. The comparison suggests a lack of alignment with climate priorities.