08 September 2010 23:35 [Source: ICIS news]
HOUSTON (ICIS)--Methanex plans to restart its 470,000 tonne/year methanol plant in ?xml:namespace>
The plant consumes approximately 50,000 MMBtu of natgas daily when running at full capacity but has been idle since 2001, according to Methanex. The company estimated it would cost about $40m (€31.6m) to restart the plant.
In a late July conference call, Aitken said the optimum price would be in the $3-$4/MMBtu range. At that price, Aitken said the probability of restarting the plant was "more than 50-50," he said.
The NYMEX front-month contract closed Wednesday at $3.81/MMBtu.
"We believe that the current lower natural gas price environment in
($1 = €0.79)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|