23 September 2013 18:48 [Source: ICIS news]
HOUSTON (ICIS)--Trinidad’s state-run utility said on Monday that natural gas cutbacks for September should end within the next week, though there is talk that restrictions could run into October.
The curtailments, which were also imposed in September and October 2012, have become routine for methanol and other petrochemical producers at Trinidad’s Point Lisas Industrial Estate for the past few years, because of repair work on offshore platforms. Producers have scheduled annual maintenance turnarounds to coincide with the cutbacks.
Trinidad’s National Gas Company said in a statement that the biggest restriction during the past month occurred during the 3-20 September period but that producers are moving back to normal capacity levels now.
The statement said cutbacks should end and producers should be back to full production “on or before” 30 September.
However, gas restrictions in September last year carried over into October, and some expect that to happen this year as well. A recent report issued by Raymond James analyst Steve Hansen said Trinidad gas restrictions of 25-35% for September might run “possibly into early October”.
US methanol spot barge prices have inched up 4-5 cents/gal during the month on tightened supply from the curtailments. Currently at 142-143 cents/gal, the spot price averaged 138 cents/gal at the end of August.
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