04 February 2011 14:23 [Source: ICIS news]
LONDON (ICIS)--BP is in the process of restarting its 300,000 tonne/year methanol plant at Gelsenkirchen, Germany, following an unplanned shutdown on 25 January, a source at the company said on Friday.
The plant went offline because of a power outage and was expected to fully up and running by next week, the source said.
A trader suggested the lost volumes may have contributed to firming methanol prices, which have risen from €260-262/tonne ($356-359/tonne) FOB (free on board) Rotterdam to €268.50/tonne through the course of the week.
Other potential contributors to the bullish sentiment were outages at the 1.3m tonnes/year Salalah, Oman plant and the 850,000 tonnes/year Titan plant in Trinidad, as well as the ongoing political unrest in Egypt which has caused further delays to initial shipments from the new 1.3m EMethanex facility at Damietta, Egypt, according to market sources.
BP has plans for a turnaround at the plant from early-May to around mid-June.
($1 = €0.73)
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