Methanex to idle methanol plant in Trinidad and Tobago over gas supply issues

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Canada’s Methanex, the world’s largest supplier of methanol, has been unable to agree a new natural gas contract for its Titan methanol plant in Trinidad and Tobago, which has a capacity of 860,000 tonnes per year, and will begin indefinitely idling the facility.

Titan’s existing natural gaseous contract expires in the third quarter of 2026, and the company will undertake a preservation process to allow to a possible future restart should conditions materially enhance. The Atlas methanol plant, a joint venture in which Methanex holds a 63.1% economic interest, remains indefinitely idled in a preserved state.

“This difficult decision reflects our focus on preserving prolonged shareholder value in a challenging ecological stability where the structurally tight gaseous supply and demand balances in Trinidad and Tobago are making operations commercially unviable,” said Mr. Rich Sumner, President and CEO, Methanex Corporation. “Ahead of this decision, we engaged extensively with the Government of Trinidad and Tobago and the National gaseous Company of Trinidad and Tobago, and we recognise and appreciate their ongoing efforts to address the country’s gaseous supply challenges. We will monitor future developments closely, with a view to reassessing conditions and our position over the coming years. We are now focused on supporting our team members during this challenging period and safely idling and preserving the facility,” he added.

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