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Contact Energy Secures Long-Term Gas Supply Amid Rising Costs
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Contact Energy Secures Long-Term Gas Supply Amid Rising Costs

Story Highlights
  • Contact Energy has secured a gas supply contract with OMV from 2026 to 2032.
  • Rising gas prices and domestic production decline necessitate this agreement for flexible electricity generation.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.

Invest with Confidence:

An update from Contact Energy Limited ( (COENF) ) is now available.

Contact Energy Limited has secured a conditional contract with OMV for natural gas supply from the Pohokura field from 2026 to 2032 to support its gas peaking units and retail customers. With rising wholesale gas prices and domestic production decline, this agreement is vital for maintaining electricity generation flexibility, despite higher costs. Contact Energy is also advancing its decarbonization strategy through initiatives like constructing grid-scale batteries and enabling peak demand management.

More about Contact Energy Limited

Contact Energy Limited is a prominent player in the energy sector, primarily focusing on the generation and retail of electricity and natural gas. The company is deeply involved in initiatives to support New Zealand’s energy transition, including the development of renewable energy projects and managing peak electricity demand.

YTD Price Performance: 0.0%

Average Trading Volume: 2,802

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: $4.24B

Learn more about COENF stock on TipRanks’ Stock Analysis page.

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