Methanex CEO, John Floren, says the company continues to work towards a long term gas contract.
Energy Minister Franklin Khan has said T&T’s downstream industry has not been forgotten or neglected as it continues to be a significant earner of foreign exchange and has a critical part to play in the country’s economic recovery.
However, the downstream industry operates in a highly elastic global environment where prices are dictated primarily by demand, he said.
Khan was speaking at the virtual launch of the T&T’s Energy Chamber Energy Conference 2021 which was held yesterday.
The minister noted that prior to 2014, commodity prices for ammonia and methanol were at an all-time high.
Methanex Provides Update on Trinidad Operations
Methanex Provides Update on Trinidad Operations
VANCOUVER, British Columbia, Jan. 07, 2021 Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that it expects its Titan methanol facility (“Titan”) in Trinidad (875,000 annual operating capacity) will remain idled indefinitely. As a result, the Company has made the decision to restructure its Trinidad operations to support a one-plant operation and reduce its Trinidad workforce by approximately 60 positions filled by employees and long-term contractors.
To date, we have not been successful reaching an agreement for an economic longer-term natural gas agreement and given that the economic recovery path remains uncertain we believe it is prudent to reduce costs while continuing our efforts to secure longer-term gas supply. The Atlas methanol facility (Methanex interest 63.1%) is not affected by the change and continues to operate as it is underpinned by a separate natural
Methanex to send home 60 workers cnc3.co.tt - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnc3.co.tt Daily Mail and Mail on Sunday newspapers.
Methanex Provides Update on Trinidad Operations
January 07, 2021 08:15 ET | Source: Methanex Corporation Methanex Corporation Vancouver, British Columbia, CANADA
VANCOUVER, British Columbia, Jan. 07, 2021 (GLOBE NEWSWIRE) Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that it expects its Titan methanol facility (“Titan”) in Trinidad (875,000 annual operating capacity) will remain idled indefinitely. As a result, the Company has made the decision to restructure its Trinidad operations to support a one-plant operation and reduce its Trinidad workforce by approximately 60 positions filled by employees and long-term contractors.
To date, we have not been successful reaching an agreement for an economic longer-term natural gas agreement and given that the economic recovery path remains uncertain we believe it is prudent to reduce costs while continuing our efforts to secure longer-term gas supply. The Atlas methan
15:58 PM | January 7, 2021 | Mark Thomas
The 875,000-metric tons/year facility at Couva was idled in March 2020, company s Atlas plant at same location still operating.
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