09 January 2012 20:34 [Source: ICIS news]
HOUSTON (ICIS)--Methanex’s Atlas methanol plant in Trinidad went down late last week for a 37-day turnaround, a company spokeswoman said on Monday.
The 1.7m tonne/year plant began the turnaround on Friday, said Deborah Samaru, spokeswoman for Methanex in Trinidad and Tobago.
Methanex’s other methanol plant in Trinidad, the 850,000 tonne/year Titan plant, continues to operate, Samaru said.
Spot barge methanol prices remained unchanged from Friday’s close at 113-115 cents/gal, sources said. A trader said prices had not changed because the market knew that the Atlas turnaround was coming and had planned for it.
The trader said methanol demand continues to weaken and that spot prices would be lower if not for rising oil prices.
Front-month futures for West Texas Intermediate crude closed on Monday at $101.31/bbl, down slightly from $101.56/bbl at the end of last week.
The trader said weak sales had been reported this winter for windshield washer and drilling fluid, which both use methanol.
Methanex owns 63.1% of the Atlas plant, and BP owns 36.9%.
BP said in October last year it wanted to sell its share, and Methanex said it would be interested in buying.
For more on methanol, visit ICIS chemical intelligence
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