Contact secures gas supply
10 February 2020
Contact secures gas supply
Contact Energy (Contact) has signed an agreement with gas producer OMV New Zealand to
secure 37 petajoules (PJ) of gas to be delivered from 2021 to 2025.
OMV have also notified Contact that it will supply at least 6.3PJ of Contact’s 10PJ
entitlement from Maui in 2021.
In addition, Contact has also entered into an additional new 3.6PJ gas agreement with an
undisclosed third party for delivery in 2020.
Chief Generation and Development Officer James Kilty said Contact was pleased to secure
this supply. “Today’s agreements secure our fuel position in line with firming requirements
for the medium term.”
He said the agreements supported the ongoing transition to a lower-emissions future for
New Zealand. “We’re continuing to make progress in expanding our geothermal generation
at Tauhara, which is New Zealand’s pre-eminent renewable development in that it does not
rely on firming fuel.
“There is an ongoing need for gas generation to firm intermittent sources of renewable
generation such as wind and hydro generation. We need to ensure there are affordable and
stable alternatives when weather-dependent generation options are unavailable.”
-ends-
Investor enquiries
Matthew Forbes
matthew.forbes@contactenergy.co.nz
Ph +64 21 072 8578
Media enquiries
Paul Ford
paul.ford@contactenergy.co.nz
Ph +64 21 809 589
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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