Due to the shortage of natural gas in Qatar, Hydro's joint venture company Qatalum has initiated a controlled shutdown of its aluminium production.
The controlled shutdown of the Qatalum smelter started on March 3 and is expected to be completed by the end of March. The decision to shut down was made after the company's gas supplier informed it of a forthcoming suspension of its gas supply. The aim of the controlled shut down is to minimize the health, environment and safety risks related to the shutdown and prepare the plant for a future restart. A full restart could take six to twelve months, but it is not known when the plant can potentially restart if fully closed.
Hydro is informing customers, working to mitigate the consequences and evaluating alternative channels to fulfill contractual commitments. The safety of the Qatalum employees remains the highest priority.
Based on the shutdown of aluminium production at Qatalum, Hydro has issued a Force Majeure notice to its Qatalum customers.
Qatalum is a 50/50 joint venture owned by Hydro and Qatar Aluminum Manufacturing Company Q.P.S.C. (QAMCO). The plant has a nameplate capacity of primary aluminium of 636,000 metric tonnes and casthouse capacity of 664,000 metric tonnes. Qatalum is fully integrated with a smelter, casthouse, carbon plant and a dedicated gas fired power plant.
Investor contact:
Elitsa Blessi
+47 91775472
Elitsa.Blessi@hydro.com
Baard Erik Haugen
+47 92497191
Erik.Haugen@hydro.com
Media contact:
Halvor Molland
+47 92979797
Halvor.Molland@hydro.com
