Methanex secures long-term gas supplies in New Zealand

Canadian company Methanex Corporation says that it has secured further gas supplies in New Zealand. The new gas quantities equate to about 2.5 million tonnes of methanol production over the next five years.

Bruce Aitken, President and CEO of Methanex commented, “This new gas, combined with the 10-year agreement signed earlier this year, underpins long term production at our Motunui site. These agreements are a reflection of the improved natural gas supply position that has developed in New Zealand over the past several years. We are continuing to work with suppliers and are optimistic that we will be able to secure more gas to underpin the restart of the Waitara Valley Plant next year.”

Methanex is a Vancouver-based, publicly traded company and is the world’s largest supplier of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada.