John Carnegie: Energy Resources Aotearoa CEO on gas supply dropping 27 percent in the last year - Heather du Plessis-Allan Drive

New Zealand’s gas supply is reducing faster and sooner than previously forecast, new reports from experts warn.

As of January 1, 2025, natural gas reserves have reduced 27 percent compared to last year, the Ministry of Business, Innovation and Employment (MBIE) said.

Energy Resources Aotearoa CEO John Carnegie says there's reason to be concerned.

"Put simply, with the rapidly reducing gas supply, our gas reserves are at historic low levels. New Zealand is facing higher energy prices, increased reliance on imported coal, uncertainty for industrial users."

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