RestructuringJun 29, 2026, 04:57 PM
Methanex Idles Titan Methanol Plant in Trinidad
AI Summary
Methanex Corporation announced it will indefinitely idle its Titan methanol plant in Trinidad and Tobago, which has an 860,000 tonnes per year capacity. This decision stems from the company's inability to secure a new natural gas contract, with the current one expiring in Q3 2026. The company plans to preserve the facility for a potential future restart if conditions improve, noting that its Atlas plant is already idled. This move aims to preserve long-term shareholder value amidst challenging gas supply conditions in Trinidad and Tobago.
Key Highlights
- Methanex to indefinitely idle its Titan methanol plant in Trinidad and Tobago.
- Titan plant has an 860,000 tonnes per year methanol production capacity.
- Decision driven by inability to agree on a new natural gas contract.
- Titan's existing natural gas contract expires in the third quarter of 2026.
- The Atlas methanol plant, 63.1% owned by Methanex, remains indefinitely idled.
- Titan is not currently contributing to the company's Adjusted EBITDA or Adjusted Free Cash Flow.
- Methanex does not expect to incur material cash costs from the idling decision.
Price Impact
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