New Zealand has expanded its Gas Security Fund, now worth NZ$200 million (US$114 million), to support a wider range of projects aimed at strengthening the country’s gas supply.

The fund will potentially cover exploration and appraisal drilling, upgrades to existing gas facilities, and efforts to increase storage capacity. In addition, the government may directly invest in new gas field developments where strong business cases exist.

Prime Minister Christopher Luxon said the move is designed to ensure reliable domestic gas supply and encourage investment in both new and existing gas assets. Industry experts suggest that the expanded fund could help modernize infrastructure, boost production, and provide long-term supply stability.

The initiative comes as New Zealand balances energy security with its climate goals, ensuring gas continues to play a role in the country’s transition to cleaner energy sources.