Genesis, Contact gain from temporary Methanex shutdown

Methanex is idling its methanol production until the end of October. (Image: NZME)

Tue, 13 Aug 2024

Genesis and Contact Energy are buying gas from Methanex after the methanol manufacturer decided to mothball its New Zealand operations until the end of October.A lack of gas has affected Methanex's operations as it competes with demand from other users.New Zealand Exchange-listed (NZX) Genesis said the electricity system was under stress from low hydro levels, calm wind conditions and a limited gas supply to support backup generation. In recent years, around 10% of the country’s electricity has been generated using gas.Contact...

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