Comparison of LNG Terminal and NZ Steel Renewable Energy Projects
NATURAL GASGREEN STEEL
The LNG Terminal project costs $2.7 billion, while the NZ Steel project cost $140 million. The LNG Terminal's greenhouse gas (GHG) benefits are estimated at 0.284 Mt CO₂-e, compared to NZ Steel’s projected annual savings of 0.8 Mt CO₂-e.
The NZ Steel project, funded by EECA, was expected to reduce emissions by 3.2 million tonnes by 2030 but lost funding due to government decisions. The LNG project may increase power prices despite potential benefits, while NZ Steel’s arc furnace aims to halve coal consumption and reduce government ETS obligations.

Feb 16, 2026, 10:27 AM