Methanex to Idle NZ Facilities Amid Supply Shortages

Methanex Corporation has announced it will idle its New Zealand production facilities indefinitely in the first quarter of 2027. The decision comes as a result of declining domestic natural gas availability and a lack of clear pathways to new supply. Methanex, the world's largest methanol supplier, cited four decades of operation at the facilities and contributions made by employees.

The company will continue to match operating rates with available supply and sell gas into New Zealand energy markets as appropriate. Methanex President Rich Sumner stated that the decision was expected given declining gas availability in the country. The company expects no material cash costs associated with this decision.