US Huntsman mulls investment in methanol plant

30 April 2013 23:13  [Source: ICIS news]

HOUSTON (ICIS)--US-based Huntsman is considering some kind of investment in a methanol plant, the CEO said on Tuesday.

The company did not elaborate on the nature of that investment.

"That is something we continue to review," said Peter Huntsman, company CEO.

Huntsman made his comments during an earnings conference call.

"We are one of the largest consumers of methanol and, obviously, if the right opportunity were to avail itself, that is an area we would have an interest," he said.

Huntsman estimated that his company consumes one half to three quarters of the capacity of a world-scale methanol plant.

"That's an area that I would hope we would be able to take advantage of in the next year or so in methanol production," Huntsman said.

He did not elaborate on the nature of any potential investment.

The advent of shale gas has encouraged several companies to relocate, restart or build methanol plants in the US.

Methanex restarted a plant in Canada, and Orascom Construction Industries (OCI) restarted one in Beaumont, Texas.

LyondellBasell is also restarting one in the US, while Celanese is building one.

Methanex is also moving two methanol units from Chile to Louisiana.

Additional reporting by Lane Kelley

By: Al Greenwood
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