Contact Energy buys 350 gigawatts worth of Methanex gas

Methanex has cut back on methanol production. (Image: NZME)

Tue, 13 Aug 2024

Contact Energy has agreed to buy around gas from Methanex equivalent to around 350 gigawatts of electricity. The agreement with the Taranaki-based methanol manufacturer will allow Contact to run its Taranaki Combined Cycle (TCC) gas-fired power station for the rest of the year if the market needs it. The agreement covers around 3.5 petajoules of gas starting immediately and running through October this year. Contact chief executive Mike Fuge said in a statement that the deal was in response to an ongoing decline in domestic gas p...

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