Methanex completes restart of second New Zealand methanol plant

05 July 2012 14:12  [Source: ICIS news]

TORONTO (ICIS)--Methanex has completed the restart of a second methanol plant in New Zealand and may restart a third idled unit there as the country’s natural gas supplies have improved, the Vancouver-based producer said on Thursday.

With the restart of the 650,000 tonne/year methanol plant, Methanex's production capacity at its Motunui site in New Zealand is now 1.5m tonnes/year, it said.

Methanex restarted the first Motunui plant in 2008. The capacities had been shut down in 2004 because of high feedstock costs and low margins.

“The [restarted] plant adds a competitive new supply source for our customers in the fast-growing Asian markets and is expected to generate strong returns for shareholders," said CEO Bruce Aitken.

"With the improved natural gas supply position that has developed in New Zealand over the past several years, we have further opportunities to increase production by debottlenecking the Motunui site and potentially restarting our plant at the nearby Waitara Valley site," Aitken added.

By: Stefan Baumgarten
+1 713 525 2653

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