Alba Inks 10-Year Gas Supply Deal with Bapco Energies
"Securing a 10-year Natural Gas Supply Agreement marks a significant chapter for Alba”, as stated by Aluminium Bahrain B.S.C. (Alba)’s Chairman of the Board, Mr. Khalid Al Rumaihi, during the Signing Ceremony with Bapco Upstream, a 100% owned subsidiary of Bapco Energies, on 23 January 2024 at Al Dana Hall, Alba.
The signing ceremony was attended by Alba’s Chairman, Mr. Khalid Al Rumaihi, Bapco Upstream’s Chairman, Eng. Faisal Al Mahroos, Alba’s CEO, Ali Al Baqali, Bapco Upstream’s CEO, Johann Pleininger, and other Alba’s officials.
This Agreement takes effect on 23 January 2024, and supersedes all previous agreements. It serves as a continuation of the Company's current natural gas requirements under one contract. Another key highlight of this Agreement is the fixed price structure for the first 5-year period at US$4 per million British thermal units (MMBTU) post which the price will be determined by the Competent Authority.
Adding further to mark this milestone, Mr. Al Rumaihi stated: “Five years of stable gas price are just the foundation. This partnership with Bapco Energies lays the groundwork for a future where collaboration and transparency will fuel our sustainable growth.”