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Speaker 1: Government's lowering the bar for gas companies to get access

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Speaker 1: to that big fund, the two hundred million bucks, the

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Speaker 1: Gas Security Fund. This is meant for new exploration. They're

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Speaker 1: loosening the criteria, opening it up to a wider range

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Speaker 1: of products. Boost down dwindling supply. We know we need

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Speaker 1: more of it. This means, on top of looking and

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Speaker 1: drilling for more gas, ourselves will take applications for anyone

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Speaker 1: who can get us more gas quickly. John Carnegie is

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Speaker 1: the Energy resources out there at our CEO with me

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Speaker 1: this morning.

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Speaker 2: John, Good morning, Yeah, good morning Ryan.

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Speaker 1: How many applications have we had for the current regime

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Speaker 1: do you know? Or how much interest?

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Speaker 2: Not much? Oh, I know, we're already seeing some positive signs.

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Speaker 2: I spent some time last month with international partner groups

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Speaker 2: in Central America and the UK that have members who

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Speaker 2: are actually looking incredibly closely at the whole package of

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Speaker 2: the new regulatory settings for the sector and this change

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Speaker 2: will hopefully spark more interesting and actually we've already had

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Speaker 2: one new permit at the time, and we expect more

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Speaker 2: to come.

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Speaker 1: How many more do you reckon?

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Speaker 2: Well, that's going to be a judgment made by the

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Speaker 2: companies as to whether or not New Zealand's investible and ultimately,

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Speaker 2: companies will only invest if they see stable, durable policy

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Speaker 2: and that's why bipartisan political support for these measures are

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Speaker 2: so crucial.

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Speaker 1: Which we haven't got yet obviously. Is you know Shane

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Speaker 1: Jones has been talking about, is this actually the amount

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Speaker 1: two hundred million is not enough in the fund or

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Speaker 1: is it the criteria? Are we limiting it at too much?

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Speaker 1: And is that why they're having to change this now?

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Speaker 2: No, Look, I think more money is always nice, Ryan,

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Speaker 2: Oil and gas exploration is an expensive business and frankly

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Speaker 2: two hundred million won't go far, especially if it's sliced thinly.

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Speaker 2: But actually, as I've just alluded to, it as much

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Speaker 2: about the overall risk profile of the activity than the

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Speaker 2: money itself, and so it's encouraging the new level of support.

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Speaker 2: But the focus now should be on creating durable, evidence

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Speaker 2: based policy settings to give investors confidence for the future

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Speaker 2: and on helping reduce their cost base.

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Speaker 1: Appreciate your time is wining, John John Carnegie Energy Resources

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Speaker 1: out here at our CEO.

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Speaker 2: For more from earlier edition with Ryan Bridge.

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Speaker 1: Listen live to news talks at b from five am

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Speaker 1: weekdays or follow the podcast on iHeartRadio,