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Abstract Vast amounts of carbon are stored beneath the seafloor in the form of methane hydrate. Hydrate is stable at moderate pressure and low temperature at a depth extending several hundred meters beneath the seafloor to the base of gas hydrate stability (BGHS) often marked by bottom simulating reflections (BSRs) in seismic profiles. However, data from logging‐while‐drilling and coring during Integrated Ocean Discovery Program Expeditions 372 and 375 offshore New Zealand identified hydrate ∼60 m beneath the BSR. This hydrate appears to be dissociating over thousands of years following a gradual temperature increase from sediment burial modulated by changes in bottom‐water temperature and sea‐level fluctuations. Slow hydrate dissociation significantly buffers the release of methane and therefore, carbon through glacial cycles. Dissociating hydrate beneath the BGHS may also increase estimated global budgets of methane stored in hydrate.