Norsk Hydro
Hydro provides an update on the natural gas supply situation at the Alunorte alumina refinery.
Alunorte was informed in August 2026 by its supplier CELBA of disruptions to natural gas availability. Consequently, Alunorte has not received contracted gas deliveries and is currently sourcing gas in the market at spot based prices. Alunorte is in parallel progressing a long-term gas supply solution on competitive terms.
Hydro reported on the potential financial and production impact for the third quarter of 2026 in mid-August this year, estimating a lost alumina production of 100,000 to 120,000 tonnes and a financial impact of USD 75 to 100 million for Bauxite & Alumina. For the fourth quarter of 2026, the estimated cost impact of the difference between contract price and spot based gas prices for Alunorte is between USD 90-110 million.
Alunorte does not expect further interruption to gas supply as a result of the current situation and continues to manage the matter in close collaboration with infrastructure owner CELBA and the relevant authorities.
The financial impact remains uncertain and is subject to gas prices, contractual developments, and the implementation of a long-term solution.
Alunorte is also pursuing available legal remedies and other measures to protect its contractual rights and interests under the existing gas supply agreement.
Investor contact:
Gerd Aalborg Aas
+47 913 05 534
Valentina Gandolfi
+47 958 82 355