Home / Knowledge / News / Textiles / Methanex expects gas shortages to Trinidad plants
Methanex expects gas shortages to Trinidad plants
27
Aug '14
Canada based and world's largest producer of methanol, TSX-listed Methanex Corporation expects gas curtailments to its two methanol plants in Trinidad to be around 20 percent in the second half of 2014.

Methanex said it anticipates gas curtailments in Trinidad in the second half of 2014 to be higher than those experienced in the first half of the year.

In a statement, Methanex quoted the National Gas Company (NGC) as advising Methanex, that it should expect higher curtailments in the second half of 2014.

The reason for which NGC said are, due to upstream platform maintenance and tie-in activities and the ongoing mismatch between upstream commitments and downstream demand from customers.

Resultantly, Methanex now estimates curtailments to its two Trinidad facilities to be in the range of 20% for the second half of 2014.

Methanex said it continues to work with the Trinidad government and other stakeholders with a view to resolving gas supply shortfalls to its Trinidad plants.

However, the methanol producer added that the situation is dynamic and it is difficult to forecast the gas curtailments or when 100% gas supply can be expected to return.

Methanex is the operator of two plants in Trinidad, Titan and Atlas and holds 100% and 63.1% interests respectively, in the two facilities.

The combined production capacity of the two plants located in Point Lisas Industrial Estate in Central Trinidad is around two million tonnes.

For the second quarter of 2014, Methanex reported adjusted EBITDA of $160 million, compared to $157 million reported in the quarter ended June 30, 2013.

Adjusted net income stood at $91 million or $0.94 per share on a diluted basis in the second quarter of 2014, compared to adjusted net income of $99 million or $1.02 per share from a year earlier.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 8th Dec 2016

China’s economy on track to meet growth expectations

China’s GDP has grown at 6.7 per cent in the first three quarters of...

SSM TK2-20 CT

Textiles | On 8th Dec 2016

SSM shows winding & air-texturing machines at India ITME

SSM (Schärer Schweiter Mettler AG), a leader in yarn processing and...

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search