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Methanex Provides Update on New Zealand Operations
Methanex said declining domestic gas supply made New Zealand operations unsustainable, and the company expects to idle its plant after 40 years.
- Methanex Corporation announced it will sell its New Zealand natural gas entitlements and indefinitely idle its Taranaki production facility during the first quarter of 2027 after 40 years of operation.
- Declining domestic natural gas availability and the lack of new supply options forced the decision, with Methanex stating that continued production in New Zealand is no longer sustainable.
- The plant employs around 300 people and exports about 95% of its methanol production to the Asia Pacific region, making it New Zealand's only methanol manufacturer.
- Genesis Energy secured about 11.4 petajoules of gas from a third party and exercised rights to access up to 8.6 petajoules from Beach Energy through December 2029, strengthening its fuel portfolio.
- President and CEO Rich Sumner stated Methanex will preserve the facility for "long-term optionality" should future circumstances support a restart, while working closely with stakeholders during the transition.
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The Toronto Star+6 Reposted by 6 other sources
Methanex Provides Update on New Zealand Operations
VANCOUVER, British Columbia, Sept. 01, 2026 (GLOBE NEWSWIRE) -- Methanex Corporation (the “Company” or “Methanex”) (TSX: MX) (Nasdaq: MEOH) announced today that it has entered into an agreement to sell substantially all of its New Zealand natural gas contractual entitlements…
·Toronto, Canada
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Total News Sources11
Leaning Left7Leaning Right2Center1Last UpdatedBias Distribution70% Left
Bias Distribution
- 70% of the sources lean Left
70% Left
L 70%
R 20%
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