It appears unlikely such a long transition will appease the more immediate demands of environmental groups.
Those groups are increasing their pressure on the Government to cease permitting of all new oil, gas and coal exploration. More than 200 protesters from several groups yesterday blocked access to the annual oil and gas sector conference in Wellington's TSB Arena, resulting in several arrests.
Minister for Energy and Resources Megan Woods told those at the conference she would not announce Block Offer 2018, as the Government was still ''actively considering'' the issue. An announcement would be made in ''coming weeks''.
Earlier this month, Prime Minister Jacinda Ardern accepted a 45,000-signature Greenpeace petition on the steps of Parliament calling for an end to oil and gas exploration.
Dr Woods yesterday reiterated there would be no changes to existing exploration permits.
''They are not under threat.''
The country had about a decade of natural gas consented for drilling and potentially many more years which could be discovered under exploration permits, she said.
''Some of these permits run as late as 2046,'' she said.
A raft of major international explorers has left New Zealand shores during the past two years, citing low oil prices and the expense of test drilling.
The block offer system was introduced by the former National government, where some of the country's 20 prospective oil basins, mainly offshore, were put up for tender.
Dr Woods' address focused on the ''transformational change'' required to reach Labour's goals of being a carbon-neutral economy by 2050 and using 100% renewable electricity, in a normal hydrological year, by 2035.
''These targets commit us to a long-term transition away from fossil fuels and towards renewable energy,'' she said in her speech.
Recent data showed that for most of 2017 renewable energy generation was generally well above 80% for each quarter, but dry weather meant coal and gas were needed to meet demand.
Dr Woods transition work would be led by a non-political Independent Climate Commission, developing carbon budgets up to 2050, which would give ''certainty and stability of policy'' to the oil and gas industry and a ''just transition'' towards a low carbon economy.
''I don't want to see an abrupt transition that leaves industries stagnant, communities without a future and individuals without a hope,'' she said.
Dr Woods said the Government's provincial growth fund and green investment fund would ''invest billions'' into local infrastructure and clean energy projects.
''It will be against this backdrop of transition planning that we make our decisions around future block offers,'' she said.
In support of innovation to create jobs in new industries, the Government would introduce research and development tax incentives, part of lifting New Zealand's R&D spending to 2% of gross domestic product, in line with the Organisation of Economic Co-operation and Development level.
''This will mean New Zealand can transition to a cleaner economy, protect our planet while still having high-paying jobs that support families,'' she said.
