Trinidad natgas cutback still in place for Methanex: executive

31 October 2013 20:08  [Source: ICIS news]

HOUSTON (ICIS)--Natural gas curtailments in Trinidad will continue into 2014 for Methanex and other methanol producers there, the chief executive of Methanex said on Thursday.

The National Gas Co, Trinidad’s state-run utility, said in late September that curtailments would end soon, but officials there have not responded to recent calls and emails.

Methanex’s latest earnings release said the company continues to have natural gas curtailments at its two plants in Trinidad. Current restrictions have been reduced to around 10%, said John Floren, Methanex chief executive, during a conference call.

The latest round of curtailments, which began in September with cutbacks of 25% for producers, have become routine at Trinidad’s Point Lisas Industrial Estate for the past few years because of repair work on offshore platforms.

Producers schedule annual maintenance turnarounds to coincide with announced curtailments. Methanex’s 900,000 tonne/year Titan plant scheduled a 30-day turnaround during September and returned to normal operation in early October, the company said.

Methanex also owns 63.1% of the 1.8m tonne/year Atlas plant in Trinidad. BP owns the remaining share of the unit.

US methanol spot barge prices have slipped this week, currently at 156.5-157.5 cents/gal, compared to 157.0-158.0 cents/gal on 25 October.

By: Lane Kelley
+1 713 525 2653

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