Methanex Corporation announced it expects to idle its Chile operation in March 2013 due to anticipated insufficient natural gas supply.
Methanex is currently operating one plant in Chile at low operating rates. In 2013, planned output from this plant represents less than 5% of Methanex's total production.
John Floren, President and CEO, Methanex Corporation, commented, "Due to continued natural gas supply challenges, we do not expect to have sufficient feedstock to keep our Chile plant operating through the southern hemisphere winter. Our current expectation is that resumption of our plant operation would be possible later in the year."
Methanex is a Vancouver-based, publicly traded company and is the world's largest supplier of methanol to major international markets.