Latest round of cutbacks over for methanol producers in Trinidad

03 July 2013 17:23  [Source: ICIS news]

HOUSTON (ICIS)--The latest round of natural gas curtailments for methanol producers in Trinidad appears to be over, sources said on Wednesday.

Cutbacks of 10-20% for most of June have ended, according to a source close to methanol plants at the Caribbean island’s Point Lisas Industrial Estate.

The island’s seven methanol plants, with a combined capacity of 6.2m tonnes/year, supply most of the methanol in the US market.

A leak in late June caused a new curtailment of 20% for 4-5 days, but production has now resumed at normal levels, the source said.

The state-owned National Gas Co. in Trinidad has not responded in recent weeks to questions about curtailments.

Natural gas supply interruptions have been an ongoing problem in Trinidad for the past two years, due to work being done on offshore platforms.

Methanol sources said new cutbacks are expected for July and August, with a major curtailment expected in September.

US methanol spot barge prices have remained stable in an inactive market this week, at 139-140 cents/gal, sources said.

($1 = €0.77)

By: Lane Kelley
+1 713 525 2653

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