Malaysia's Petronas delays methanol mega plant restart

21 April 2011 11:39  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia’s state-owned oil giant Petronas might restart its 1.7m tonne/year Petronas Methanol Labuan (PML 2) next week, a company source said on Thursday.

It was shut on 29 March for a scheduled maintenance.

“The maintenance took longer than expected,” the company source said.

Meanwhile, its 660,000 tonne/year PML 1 was not running well, the source added.

“Sometimes it’s up, sometimes it’s down,” he said.

Market players said they expected spot supply to be limited due to the turnaround in southeast Asia.

Bids were heard at $345/tonne (€238/tonne) CFR (cost & freight) southeast Asia today. This is about $5/tonne higher than last week, according to market players.

Methanol is used to make formaldehyde, methyl tertiary butyl ether (MTBE), methylamines, methyl methacrylate (MMA) and acetic acid.

Other regional methanol producers include Indonesia’s Kaltim.

($1 = €0.69)

For more on methanol, please visit ICIS chemical intelligence
Please visit the complete ICIS plants and projects database

By: Heng Hui
+65 6780 4359

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