NZ's Contact Energy says to buy gas from Genesis

Reuters

Tue, Jun 24, 2014, 6:09 PM

WELLINGTON, June 25 (Reuters) - New Zealand's largest listed power company Contact Energy on Wednesday said it had entered an agreement with Genesis Energy to buy gas from January 2015.

The company said it would buy 27 petajoules of gas over the term of the contract with Genesis, which is majority owned by the New Zealand government.

"Completing the supporting gas purchase with Genesis Energy is a significant step for Contact as we contemplate our future gas purchase needs," the company said in a statement.

Majority owned by Australia's Origin Energy Ltd, Contact runs 10 power stations which generate nearly one-third of New Zealand's electricity.

(Reporting by Naomi Tajitsu; Editing by Diane Craft)

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NZ's Contact Energy says to buy gas from Genesis

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