Methanex Chilean complex may reach full capacity

06 May 2008 19:58  [Source: ICIS news]

HOUSTON (ICIS news)--Canadian producer Methanex could ramp up its Chilean methanol plants to full capacity within a year, up from their current level of 33%, the company said on Tuesday.

The announcement follows an agreement that Methanex made with Chile’s state-owned gas company Empresa Nacional del Petroleo (ENAP) to supply natural gas to the producer's 3.8m tonne/year methanol complex near Punta Arenas.

The Methanex complex has been running at reduced rates since Argentina halted natural gas exports to the site last year.

Industry analysts said exports from Argentina are unlikely to resume, and Methanex president Bruce Aitken indicated it would be better for the company to get the gas itself.

“It’s much quicker for us to do it than rely on someone else to do it,” Aitken said during the company’s annual meeting.

($1 = €0.65)

For more on Methanex's plants near Punta Arenas in Chile, visit ICIS plants and projects

For more on methanol visit ICIS chemical intelligence

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By: Steven McGinn
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