12. Energy and Resources—Natural Gas SupplyJONATHAN YOUNG (National—New Plymouth) to the Minister of Energy and ResourcesEnergy and Resources—Natural Gas Supply12. JONATHAN YOUNG (National—New Plymouth) to the Minister of Energy and Resources: When was the last significant hydrocarbon discovery in New Zealand?Hon Dr MEGAN WOODS (Minister of Energy and Resources): I'm advised that the last significant hydrocarbon discovery was Tūrangi onshore gas in 2005. Tūrangi currently represents about 5 percent of New Zealand's total natural gas production. This was followed by Kōwhai in 2008. This is also an onshore gasfield and represents about 2 percent of total production. I'd point out to the member that both those fields are onshore and of course a block offer process for onshore Taranaki is currently under way.Jonathan Young: Why is the Minister so upbeat that of the 100000 square kilometres of permitted area 10 to 15 percent could turn into producing fields when as reported the last 79 wells drilled since 2006 have not seen a commercial discovery of gas?Hon Dr MEGAN WOODS: It's not just my natural optimism that makes me so upbeat; it is the fact that we have OMV—the company that owns more than half the mining and exploration permits in this country—who just at the end of last week said the exploration acreage is enough to keep our firm busy for the next 10 to 15 years. The ban declared last month does not affect producing assets." They went on to say "This has no impact at all. It has no impact on existing licences neither on production licences nor on exploration licences." They went on to say—I'm sure the member will be very heartened to hear—"We are in a very good position in New Zealand."Jonathan Young: Considering the recent history has not been as positive as the Minister sounds what is her plan for homeowners businesses and industries who rely on gas when by the end of next year current gas reserves start to fall short of meeting current gas demand?Hon Dr MEGAN WOODS: I reject the assertion in the member's answer. The current quality assured—SPEAKER: Question.Hon Dr MEGAN WOODS: Sorry question. The current quality assured estimates for what the gas reserves are in New Zealand are published annually in the Energy in New Zealand publication. That currently sits at around 10 years. The numbers are currently being quality assured for 2018 and will be released. I'd like to reassure that member that when the company that holds more than half the permits for mining and exploration in this country is proudly proclaiming "We are in a very good position in New Zealand" I have good reason to share their optimism. Jonathan Young: Is the Minister aware of how many terawatt hours are required to switch gas users to electricity in their thinking that this is a sunset industry?Hon Dr MEGAN WOODS: That is a hypothetical question but what I would like to point out to the member is the potential that we have in the consents that exist out there—100000 square kilometres roughly the size of the North Island. If you take the industry's own conservative estimates of a 10 to 15 percent chance of finding a find that is economically viable to drill—this is 10000 to 15000 kilometres. We currently have 1756 square kilometres in production. We are talking about an area 5.5 to 8.5 times the area currently in production. I think that member should stop scaremongering."