31 October 2013 19:54 [Source: ICIS news]
HOUSTON (ICIS)--Methanex’s top executive on Thursday said if the company builds a new 1.3m tonne methanol plant in Canada, as proposed, it would sell methanol produced there to Asia.
“It won’t be to sell that product in North America; it will be based on selling it in Asia,” said John Floren, Methanex chief executive.
“The cheaper gas is in North America, and the availability of gas is in North America,” Floren said in a conference call. “But most of the growth today is in Asia, and mainly China.”
Earlier this year, Methanex submitted plans for the Medicine Hat project for consideration to the Canadian environmental assessment agency. Floren said the final decision to build the plant would not be made until late 2014.
The company’s latest earnings announcement said that the Alberta plant produced 130,000 tonnes in the third quarter this year, a slight increase over 129,000 tonnes made there in the second quarter of 2013.
In September, Methanex increased the annual production capacity of the Medicine Hat facility by 90,000 tonnes to 560,000 tonnes through the completion of a debottlenecking project, according to its earnings release.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections