Incitec Pivot experiencing gas supply issues

Company News

by Rachael Jones

Incitec Pivot (ASX:IPL) currently have third party gas supply issues affecting their operations.

Northern gas pipeline operations have been delayed due to technical issues.

They should commence between 29 December 2018 and 10 January 2019.

This affects gas supply to Gibson Island and Phosphate Hill plants.

The delay could cost the company approximately $3.5 million.

St Helen's Oregon plant in the US has been impacted by the elevated and volatile gas pricing following the rupture of Enbridge Inc’s Westcoast Pipeline and the subsequent rate reductions on the pipeline.

This could cost an extra US$10 million.

Shares in Incitec Pivot (ASX:IPL) are trading 2.13 per cent lower at $3.67.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.