Port Taranaki chief executive Guy Roper says the Government’s announcement today that there will be no new offshore oil and gas permits is disappointing and unsettling for Taranaki and New Zealand.

“Oil and gas make a significant contribution to the Taranaki and national economy so we are concerned and disappointed. We believe this decision will have long-term impacts on export returns and associated jobs in Taranaki,” Mr Roper said.

“What the government has stated is a significant change for the sector and its support industries. We believe these decisions should involve consultation so we can put in place a well thought-out plan to transition to a low carbon economy.

“This transition is a generational change to allow new technology to develop and the economy to evolve. Natural gas is a key to this transition and that resource exists in Taranaki,” he said.

Mr Roper said Port Taranaki would assess the implications of the Government’s announcement as more information came to hand and would continue to support the oil and gas industry’s exploration under existing permits.