{"id":86325,"date":"2024-08-27T00:00:00","date_gmt":"2024-08-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/08\/27\/new-zealand-to-lift-ban-on-offshore-oil-and-gas-exploration-amid-energy-crisis\/"},"modified":"2024-08-27T00:00:00","modified_gmt":"2024-08-27T00:00:00","slug":"new-zealand-to-lift-ban-on-offshore-oil-and-gas-exploration-amid-energy-crisis","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/08\/27\/new-zealand-to-lift-ban-on-offshore-oil-and-gas-exploration-amid-energy-crisis\/","title":{"rendered":"New Zealand to lift ban on offshore oil and gas exploration amid energy crisis"},"content":{"rendered":"

New Zealand to reverse offshore oil and gas exploration ban amid energy crisis: <\/strong>New Zealand is planning to reverse its 2018 ban on offshore oil and gas exploration and take urgent measures to facilitate the import of liquified natural gas (LNG) to address severe energy shortages, Reuters<\/a> reports. The reversal laws, set to pass by the end of this year, will lift restrictions on exploration outside the energy-rich Taranaki region on the country\u2019s North Island. \"We are responding to a situation as I said New Zealand should never have seen in the first place,\" New Zealand\u2019s Prime Minister Christopher Luxon said as he urged the country\u2019s opposition to back the planned reversal. The decision comes after renewables failed to bridge the gap in natural gas production which plunged 27.8% in 1Q 2024, leading to a nationwide energy crunch, according to Energy Minister Simeon Brown.<\/p>\n

YET- <\/strong>The government plans to streamline the approval process for planned renewable energy projects to help reduce consent processing period to within one year, Brown said. It plans to open a first feasibility permit round for offshore renewable energy schemes in 2025, he added.<\/span><\/p>\n

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Shanghai plans major offshore solar farms:<\/strong> Shanghai will seek bids for its first set of offshore solar panels with a total capacity of at least 1 GW, Bloomberg<\/a> reported yesterday, citing a notice by the city government<\/a>. These solar farms, which will be located near offshore wind turbines in areas like Jinshan and Fengxian, aim to maximize the use of existing transmission infrastructure in the two districts. <\/p>\n

REMEMBER<\/strong>- China\u2019s government greenlit Shanghai's plan last month<\/a> to install 29 GW of offshore wind capacity to help the city cut emissions and meet Beijing's climate targets. The plan is expected to supply about 100 bn kWh of clean electricity annually \u2014 over half of Shanghai's yearly power consumption \u2014 upon its completion.<\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n