Methanex Exit Sparks Push for LNG Terminal

New Zealand's Energy Minister Simeon Brown has reaffirmed the importance of a proposed liquefied natural gas (LNG) import terminal, despite the recent announcement by Methanex that it will sell its remaining contractual New Zealand natural gas next year.

Methanex, the country's largest gas user, has been operating in Taranaki for 40 years and plans to wind down operations. The company cited a decline in global demand as the reason for its decision.

However, Minister Brown sees this development as an opportunity to accelerate the construction of the LNG import terminal. According to him, it remains 'critically important' for New Zealand's energy needs.