Methanex still waiting for Repsol-YPF restart in Argentina

18 July 2002 18:51  [Source: ICIS news]

TORONTO (CNI)--Canada’s Methanex said Thursday it is still waiting for the 400 000 tonne/year Repsol-YPF methanol plant at Neuquen, Argentina to resolve its railroad transport problems and resume production.

Methanex markets all export volume from the Respol-YPF plant. Production at the plant was halted in May after courts in Argentina, responding to lawsuits by concerned neighbourhood groups, blocked the transport of the plant's methanol output by rail through certain communities.

Pierre Choquette, Methanex president and chief executive officer, told analysts here today: "The plant is ready to restart but will not restart until the communities allow the rail movements." The rail transports must go through the affected communities in order to reach sea ports, he noted.

According to Choquette, the situation remains unresolved "as we speak" and Methanex is waiting for the outcome.

He added: "With our approach to Responsible Care we would have take care of that well ahead of time. Apparently Repsol did not."

Vancouver, British Columbia-based Methanex was briefing analysts on the company’s second quarter results.

By: Stefan Baumgarten
+1 713 525 2653

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