Methanex restarts idled Chile I plant

TORONTO (ICIS)–Methanex has restarted its Chile I methanol plant in Punta Arenas, Chile, the Canada-based international methanol major said in a statement issued late Thursday.

The plant had been idled since May due to insufficient natural gas supplies.

CEO John Floren said Methanex managed to secure gas supplies from both Chile and Argentina through a tolling arrangement.

He did not comment on capacities. A media official at the the company’s headquarters in Vancouver was not immediately available for additional comment on Friday.

Lack of gas supplies for its plants in Chile has prompted Methanex to shift capacities out of that country to the US Gulf Coast.

Floren added: “There continues to be upstream activity in southern Chile, including the assessment of unconventional reserves in the region.”

“We are focused on realising full value from our remaining Chile assets, and remain optimistic that we can continue to operate in the region over the coming years,” he added.

Additional reporting by Lane Kelley in Houston.