Alunorte Faces High Costs Due to Gas Supply Disruptions
Norsk Hydro has revealed that its Alunorte alumina refinery is facing significant financial challenges due to disruptions in natural gas supply. The refinery, which was informed in August 2026 by its supplier CELBA about disruptions, has not received contracted gas deliveries and is now sourcing gas at spot-based prices, leading to higher costs.
The company estimates a fourth-quarter 2026 cost impact of USD 90-110 million from the difference between contract and spot-based gas prices. This follows a third-quarter 2026 financial impact of USD 75-100 million and lost alumina production of 100,000 to 120,000 tonnes, reported in mid-August this year.
Alunorte is working on a long-term gas supply solution on competitive terms and does not expect further interruptions. However, the financial impact remains uncertain, subject to gas prices, contractual developments, and the implementation of the long-term solution. The company is also pursuing legal remedies to protect its contractual rights and interests.
Investors can contact Gerd Aalborg Aas and Valentina Gandolfi for more information.