Methanex to Restart Methanol Production in Canada

摘要

Methanex today announced plans to restart its 470,000-m.t../year methanol plant in Medicine Hat, AB in April 2011. The unit was idled in 2001 following a spike in natural gas feedstock prices that eventually resulted in the shut down of most North American methanol production. Improvements in natural gas supply in North America from shale and other sources have driven gas prices significantly lower in the past two years. The plant "offers a unique opportunity to capitalize on the attractive pricing dynamic between methanol and natural gas in that region," says Bruce Aitken, president and CEO of Methanex. "We believe that the current lower natural gas price environment in North America has made this plant a competitive new supply source." Restart costs are approximately $40 million, Methanex says.