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New Zealand expanded its $200 million Gas Security Fund to boost energy security with diverse gas projects, seeking bipartisan support.
New Zealand has expanded its $200 million Gas Security Fund to include short-, medium-, and long-term projects like drilling in existing fields, facility upgrades, exploration, and gas storage to address declining reserves and rising energy costs.
The fund, now open to a broader range of initiatives beyond new gas fields, aims to strengthen energy security, support regional jobs, and mitigate investor concerns from past policy shifts.
Investment decisions will be made jointly by key ministers, guided by an independent panel and legal review, with applications expected soon.
The government emphasizes the need for cross-party support as natural gas is seen as a necessary bridge during the transition to lower-emission energy.
Nueva Zelanda expandió su Fondo de Seguridad de Gas de $200 millones para impulsar la seguridad energética con diversos proyectos de gas, buscando apoyo bipartidista.