Genesis Energy and Methanex have agreed to a gas supply arrangement for between 3.4PJ ­ 4.4PJ over winter that will support security of supply for the country's electricity system. The agreement comes at a time when the electricity market remains under some stress due to low hydro levels and tight gas supply and has relied on Huntly Power Station to fill the void left by renewable sources. This provides the energy equivalent of having up to 84% of the storage capacity of Lake Taupo. It will also mean lower carbon emissions for the country, with gas as fuel emitting approximately half the emissions of coal on an energy equivalent basis. Genesis acknowledges and is appreciative of the flexibility Methanex has shown in respect of their own business to make this gas available. It is another example of co-operation between the electricity, gas and manufacturing sectors to support New Zealand's security of supply at a time of stress for both the gas and electricity markets.