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 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Textiles | On 27th Apr 2017

Seven new organisations join ZDHC Programme

The Zero Discharge of Hazardous Chemicals (ZDHC) Programme from...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Mohammad Hassan
Biax Fiberfilm

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Jay Ramrakhiani
Occasions Elegance Wear

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X