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

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

Trade & consumers want MDR free digital payments: CAIT

Apparel/Garments | On 12th Dec 2017

Trade & consumers want MDR free digital payments: CAIT

Transaction charges like the merchant discount rate (MDR) applicable...

Interviews View All

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Jay Ramrakhiani
Occasions Elegance Wear

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

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search