New Zealand's Genesis Energy at over three-year high on securing additional gas supply

Genesis Energy

02/09/2026 05:40

** Shares of Genesis Energy GNE.NZ rise 2.6% to NZ$2.7500, their highest since April 2023 
** Stock on track for its sharpest rise since June 19, if gains hold
** Energy supplier secures around 11.4 petajoules of additional third-party gas supply for the period from March 2027 to December 2029
** Co also secures access to up to 8.6 PJ of gas from January 2027 to December 2028, as it exercised its right of first refusal with regard to Kupe gas supply from Beach Energy
** Co says these arrangements strengthen its fuel portfolio and gas position through to FY29, providing sufficient gas to meet retail demand forecasts
** YTD, stock up 16.3% 

 (Reporting by Tejas Harish in Bengaluru)
 ((tejas.harish@thomsonreuters.com;))