Methanol Holdings puts 2 plants on hold, NGC gas prices too high
Methanol Holdings (Trinidad) Ltd (MHTL) is one of the largest methanol producers in the world. -
The National Gas Company (NGC) and Methanol Holdings (Trinidad) Limited (MHTL) have failed to renew a contract for the continued supply of gas, which has forced the energy giant to idle two of its plants because the proposed prices are too high.
MHTL falls under the purview of the Proman Group. In an internal message to employees, managing director Claus Cronberger said the company was working on a long-term gas supply contract since March but due to high pricing by the NGC it was unable to secure a favourable contract.