03 October 2008 08:32 [Source: ICIS news]
SINGAPORE (ICIS news)--Methanex is still testing one of its two 900,000 tonnes/year methanol plants in Motonui, New Zealand, for a possible re-start later this year, after four years of non-operations, said a company source on Friday.
Methanex had earlier signed a new gas supply contract to run the Motonui plant for two years.
Methanex owns three methanol plants in New Zealand, two at Motunui and another in the Waitara Valley.
The company is currently running its 500,000 tonnes/year Waitara Valley methanol facility but will idle it once the Motonui plant achieves successful on-spec material production, the source added.
According to earlier statements by Methanex, the Waitara unit remained a "flexible asset" and could be restarted if additional natural gas feedstock was secured.
The two methanol plants at Motonui were shut down in 2004 due to high feedstock prices and low margins.
The other 900,000 tonne/year unit at Motonui will continue to remain idle.
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