Contact Energy has announced a new contract with OMV for the supply of natural gas from the Pohokura field.
The contract, which is set to run from January 2026 to December 2032, is conditional upon the receipt of consent from the Minister.
The initial 12-month forecast volume is approximately 3.5 petajoules, with the annual volume expected to decline over the duration of the agreement.
Contact said the new supply contract will support the operation of its gas peaking units at Stratford and provide gas supply to retail customers.
The company's current contracts for supply from the Maui and Pohokura gas fields are set to expire in December 2024 and 2025, respectively.
Contact's chief executive, Mike Fuge, highlighted the importance of securing gas supply for the operation of its peaking assets in the context of the energy transition.
Contact also has initiatives in place to reduce reliance on its gas peakers, including the construction of a 100MW grid-scale battery and the planning of two more.
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