Methanex to Exit NZ Natural Gas Market Amid Supply Decline

Methanex Corporation has announced its decision to sell substantially all of its New Zealand natural gas contractual entitlements. The sale, which is expected to be completed in the first quarter of 2027, will mark the end of Methanex's operations in New Zealand.

The company cited the continued decline in domestic natural gas availability and the lack of a clear pathway to new supply as reasons for its decision. Despite contributing to managing New Zealand's declining gas environment, Methanex has determined that continued operations are not sustainable.

Rich Sumner, President and CEO of Methanex Corporation, stated, 'Our New Zealand production facilities have operated for more than four decades... we will work closely with employees, contractors, suppliers, customers, and government stakeholders during this transition period.'