Methanex Corporation starts the production of methanol from its 0.8 million tonne Chile plant which was not in action from 2007. The Argentine Government permitted the export of natural gas from Argentina to Chile. And because of the Government permission, Methanex has started getting its supply from Argentina. It is expected that the current gas contracts will allow for a two-plant operation in Chile during the summer months and up to a maximum of 75% of a two-plant operation annually until mid-2020.
As per John Floren, CEO Methanex the project of restarting the Chile plant was completed under budget and on time. The plant has started its production owing to the supplies of natural gas from Argentina and its is expected to benefit in long run and they can secure adequate gas without any seasonal fluctuations hammering the operation of the plant. This restart will help the company increased its exposure in high growth North American market where in, the demand of methanol and its derivatives is growing exponentially.
Methanex – Methanex is a Publicly traded company based out in Vancouver. It is one of the largest producer and supplier of methanol to major markets. It is having one of the largest fleet of methanol ocean tankers and has global effective supply chain. The company’s share is listed in two trading market such as, NASDAQ (in United States) and Toronto Stock Exchange (in Canada).
– Vasundhra Singh,
Assistant Research Executive,