Malaysia’s PETRONAS shuts 1.7m tonne/year Labuan methanol plant

16 July 2013 10:10  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia’s PETRONAS Chemicals Group (PCG) has shut its 1.7m tonne/year No 2 methanol plant in Labuan on Monday because of unspecified reasons, a company source said on Tuesday.

Its 660,000 tonne/year No 1 methanol unit at the site is currently running at around 50-70% of capacity, the source said.

Spot methanol availability in Asia is tight as another major facility in Brunei is currently shut, market sources said.

Brunei Methanol Co’s 850,000 tonne/year methanol plant at Sungai Liang Industrial Park has been shut since May and is due to be restarted in end-July.

Southeast Asian methanol prices are still currently the highest in the whole of Asia at $410-420/tonne (€316-323/tonne) CFR (cost and freight), according to ICIS.

Methanol is used to manufacture formaldehyde, methyl tertiary butyl ether (MTBE), methylamines, methyl methacrylate (MMA) and acetic acid.

($1 = €0.77)

By: Heng Hui
+65 6780 4359

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