Insight
New Zealand gas shortage sparks policy U-turn and LNG import plans
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Report summary
New Zealand is an isolated gas market. The country meets all of its gas demand with domestic production and the infrastructure is concentrated in the North Island. Drought conditions and a decline in domestic production led to a gas shortage crisis in 2024 and 2025. Prime Minister Christopher Luxon's government has lifted the ban on new offshore exploration permits, revised decommissioning laws, and aims to start importing LNG from winter 2027. In this insight, we will discuss critical topics such as: What are the drivers and outcomes of the gas shortage in New Zealand? How does the supply and demand outlook for the next 10 years look? What could be the potential LNG demand and LNG prices in the next decade? What are the challenges of importing LNG into the country?
Table of contents
- Background
- What is happening?
- Government plan
- Our take
Tables and charts
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What's included
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