16 December 2011 21:32 [Source: ICIS news]
The 550,000 tonne/year plant, operated by Methanol Holdings (Trinidad) Ltd (MHTL), was shut down on Wednesday so the company could make smaller cutbacks on its four other plants there, said Jan W Spin, president of Southern Chemical Corp (SCC).
The shutdown stems from the natural gas curtailment in Trinidad that has lasted for most of this year. Industry sources have said the cutback will extend into the first half of January 2012.
Spin said when M2 restarts next week all of the plants will be running at 85–90% capacity.
MHTL operates five units with a total of about 4.07m tonnes/year capacity at Point Lisas, Trinidad.
The Caribbean island just off the coast of Venezuela produces roughly 75% of US methanol imports and 80% of American ammonia imports at plants in Trinidad’s Point Lisas Industrial estate.
US spot methanol prices have remained at 113–114 cents/gal for the past week.
There has been little or no buying in the market because market players want to avoid paying taxes on inventory remaining at the end of the year.
($1 = €0.77)
For more on methanol visit ICIS chemical intelligence
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