Methanex Exit Threatens Gas Price Spike in New Zealand

Methanex, New Zealand's single biggest gas consumer, has announced plans to close its operations and sell off its gas contracts by next year. The company has been a major part of the Taranaki economy for over four decades, using nearly half of the region's gas at times.

The impact on households and small businesses is expected to be significant, with higher prices likely to follow the loss of supply. Methanex's departure will leave a large void in the market, which could lead to increased costs for consumers.