Methanex Closes Taranaki Plant After 40 Years of Operation

Methanex, a major methanol producer and gas user, has announced that it will close its 40-year-old plant in Taranaki, New Zealand. The company has struck a deal to sell substantially all of its New Zealand natural gas contractual entitlements, starting in 2026.

The move comes after 40 years of operation, with Methanex citing the sale as a key factor in the decision to idle the plant indefinitely.

No specific details on the sale price or terms have been released. The company's New Zealand gas entitlements are expected to change hands as part of the deal.