Methanex Idles New Zealand Methanol Facilities Amid Gas Shortage

Methanex Corporation has announced that it will idle its New Zealand methanol production facilities in the first quarter of 2027 due to a worsening shortage of domestic natural gas and a lack of new supply prospects.

The company has agreed to sell substantially all of its remaining New Zealand natural gas contractual entitlements from the first quarter of 2027 through the end of the decade. This move is expected to bring an end to more than four decades of production in the country, although Methanex will preserve the facilities in case market conditions eventually support a restart.

Rich Sumner, President and CEO of Methanex Corporation, stated that 'Our New Zealand production facilities have operated for more than four decades and our people have made significant contributions to the Company's global operations and the New Zealand energy sector.'