(Reuters) – U.S. oil giant Chevron (NYSE:)’s Australian unit said on Tuesday it would supply a total of 130 petajoules of gas to aluminium producer Alcoa (NYSE:) over a 10-year period starting 2028.

The gas will be supplied from Chevron’s 530 terajoules-a-day Gorgon and Wheatstone facilities, and North West Shelf Venture in the state of Western Australia, Chevron Australia said in a statement.

Separately, Alcoa said the gas would be used to power its alumina refineries in Western Australia.

Alcoa had previously secured gas supply deals with Chevron, Warrego Energy and Exxon Mobil (NYSE:) in 2020 to power its Kwinana, Pinjarra and Wagerup alumina refineries in the state from 2024 onwards.

However, the aluminium company said in January that it would stop production at the Kwinana refinery, citing challenging market conditions and the facility’s age.

© Reuters. FILE PHOTO: An Alcoa aluminum plant in Alcoa, Tennessee, U.S. is seen in this April 8, 2014 file photo REUTERS/Wade Payne/File Photo

A spokesperson from Alcoa said an unexpected gas disruption and subsequent power outage at its Pinjarra Alumina (OTC:) Refinery on Tuesday had impacted process flow.

“Alcoa continues to restore refining operations at the site and the cause of the disruption is being investigated,” the spokesperson said.


Source link

Best Brokers

Unmatched trading fees, generous bonuses, top notch Regulation Frame.

T&Cs Apply

Risk disclosure: All investments involve a degree of risk of some kind. Trading financial derivative products comes with a high risk of losing money rapidly due to leverage.

Top-Tier Regulations. Unmatched Spreads and Commissions. Trading View is available.

T&Cs Apply

Financial Spread Trades and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.7% of retail investor accounts lose money when trading CFDs with this provider.

Modern and Intuitive Interfaces, Solid Regulatory Frame, and excellent Trading Fees.

T&Cs Apply
Risk warning: Trading derivatives is highly speculative, carries an inherent risk of loss and is not suitable for all investors. Before trading, you are strongly advised to read and ensure that you understand the relevant risk disclosures and warnings.

Highly Regulated. Low Spreads and Commissions. Vast Account Options.

T&Cs Apply

Risk Warning: Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment.