Methanex Considers Idling Titan Plant Amid Gas Price Hikes
Methanex, the world's largest methanol producer and supplier, is considering idling its Titan plant at Point Lisas in Trinidad and Tobago due to gas curtailment and rising natural gas prices. The company's CEO, Rich Sumner, said that Methanex is discussing possible outcomes with National Gas Company (NGC), including a short-term gas supply contract.
The idling of the Titan plant would be the second major petrochemical investor to raise concerns about continued operation in Trinidad and Tobago. Nutrien Ltd. is reviewing strategic options for its Trinidad nitrogen operations, including a potential sale of its facility.
NGC's chairman, Gerald Ramdeen, defended the company's approach to gas allocation, prioritizing national returns over full industrial utilization. He stated that NGC must manage the gas it has in the best interest of the people first.