New Zealand Government Plans LNG Import Facility Amid Gas Supply Shortage

New Zealand's gas supply is projected to decline by 24% by 2025, prompting the Government to seek expressions of interest for an LNG import facility, with a decision expected in December. Businesses, particularly small and medium enterprises without dedicated energy managers, face rising gas costs and uncertainty regarding energy pricing.

Research by Verian indicates that many businesses are hesitant to commit to new energy systems due to high costs and existing debts. The Government, through EECA, aims to assist businesses in identifying energy savings and implementing efficiency measures, potentially reducing energy bills by 10-30%.

Initiatives include energy assessments and audits, as well as promoting renewable energy solutions. New Zealand generates approximately 85% of its electricity from renewable sources, and efforts are underway to utilize wood biomass for energy, presenting a sustainable option for businesses reliant on fossil fuels.