Genesis secures additional gas to strengthen fuel portfolio
MARKET RELEASE
Date: 2 September 2026
NZX: GNE / ASX: GNE
Genesis secures additional gas to strengthen fuel portfolio
Genesis has secured approximately 11.4 PJ of additional third-party gas supply for the period from
March 2027 to December 2029.
In addition, Genesis has exercised its right of first refusal in respect of Kupe gas supply from Beach
Energy Resources NZ (Kupe) Limited and Kupe Mining (No.1) Limited, both wholly owned subsidiaries
of Beach Energy, securing access to up to 8.6 PJ of gas from January 2027 to December 2028, subject
to execution of the relevant transaction documentation and required ministerial approval.
Together, these arrangements strengthen Genesis’ fuel portfolio and gas position through to FY29,
providing sufficient gas to meet forecast retail demand and support the transition away from baseload
gas generation.
Chief Wholesale Officer Tracey Hickman commented “this additional gas gives us greater choice in
how we manage our generation mix and respond to customer demand and changing market
conditions. It complements our existing fuel arrangements and enhances the flexibility of our
generation portfolio.”
Gas Position (PJs per month)
ENDS
-
0.5
1.0
1.5
2.0
2.5
3.0
Jul-26Nov-26Mar-27Jul-27Nov-27Mar-28Jul-28Nov-28Mar-29Jul-29Nov-29Mar-30
Kupe - equityKupe - contractedKupe - ROFRThird party contracts
For investor relations enquiries, please contact:
Michael Hunter
GM Investor Relations & Corporate Valuation
M: 021 073 1603
For media enquiries, please contact:
Graeme Muir
Group Manager Communications
M: 027 202 4885
About Genesis Energy:
Genesis Energy (NZX: GNE, ASX: GNE) is a diversified New Zealand energy company. Genesis sells
electricity, reticulated natural gas and LPG and is one of New Zealand's largest energy retailers with
nearly 500,000 customers. The Company generates electricity from a diverse portfolio of thermal and
renewable generation assets located in different parts of the country. Genesis also has a 46% interest
in the Kupe Joint Venture, which owns the Kupe Oil and Gas Field offshore of Taranaki, New Zealand.
More information can be found at www.genesisenergy.co.nz
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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