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Methanex to move one of its shuttered methanol plants to North America

June 23/2011

(ICIS) -- Methanex is considering moving one of its shuttered methanol plants in Chile to North America, a company executive said on Wednesday. Speaking at an investor conference, Methanex senior vice president John Floren said that the company also is studying whether to restart one of its three closed plants in the South American country with coal instead of natural gas.

In April, Methanex CEO Bruce Aitken said there was a low probability that the companys lone methanol plant operating in its Chilean complex might have to be shut down in the coming months because of a low natural gas supply during the southern hemispheres winter. Aitken said then that Methanex might move the plant in Punta Arenas, Chile.

Floren referred to Methanexs long-term problem in Chile of obtaining natural gas supplies. Its taking longer for us to be successful there than we first imagined, Floren said. One option for Methanex would be to move the plant to the US or Canada, where Methanex is headquartered, Floren said.

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