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MOSCOW (MRC) -- Methanex Corporation
announced that it expects its Titan methanol facility (“Titan”) in Trinidad
(875,000 annual operating capacity) will remain idled indefinitely, said Hydrocarbonprocessing.
As
a result, the Company has made the decision to restructure its Trinidad
operations to support a one-plant operation and reduce its Trinidad workforce by
approximately 60 positions filled by employees and long-term
contractors.
To date, the facility has not able to reach an agreement for
an economic longer-term natural gas agreement and given that the economic
recovery path remains uncertain the company believes it is prudent to reduce
costs while continuing efforts to secure longer-term gas supply. The Atlas
methanol facility (Methanex interest 63.1%) is not affected by the change and
continues to operate as it is underpinned by a separate natural gas supply
agreement that expires in 2024.
John Floren, President and CEO, Methanex
Corporation, commented, “We remain committed to doing business in Trinidad and
Tobago and we believe that we will be able to secure an economic longer-term
natural gas agreement for Titan in the coming years. Our operations in Trinidad
are well located to supply global methanol markets and are an important
component of our global production network. We are taking the necessary steps to
maintain Titan to ensure a safe and efficient restart of the plant when a
longer-term gas agreement is reached."
As per MRC, Air Liquide said on Wednesday
that it has agreed with Methanex Corp. to supply oxygen, nitrogen and utilities
to its upcoming methanol plant expansion project at Geismar, Louisiana. Air
Liquide will invest more than USD270 million in two new large air separation
units (ASUs) and infrastructure assets connected to its Mississippi River
pipeline, and significantly increase its production capacity in the US Gulf
Coast region to serve Methanex and its other customers in the industrial basin
that encompases Geismar and Baton Rouge.
Ethylene and propylene are
feedstocks for producing PE and polypropylene (PP).
According to MRC's ScanPlast report,
Russia's estimated polyethylene (PE) consumption totalled 1,990,280 tonnes in
the first eleven months of 2020, up by 1% year on year. Only high density
polyethylene (HDPE) shipments increased. At the same time, polypropylene (PP)
shipments to the Russian market reached 1 090,900 tonnes in the first eleven
months of 2020 (calculated using the formula: production, minus exports, plus
imports, excluding producers' inventories as of 1 January, 2020). Supply of
exclusively PP random copolymer increased. |
