Methanex to Idle New Zealand Plants, Sell Gas Entitlements

Corporate Action
โดย GlobeNewswire·NZ·Read original
Summary · why it matters

Methanex Corporation announced it has agreed to sell substantially all of its New Zealand natural gas contractual entitlements, which expire at the end of the decade, and expects to indefinitely idle its New Zealand production facilities during the first quarter of 2027. The decision follows a continued decline in domestic natural gas availability and a lack of clear pathway to meaningful new supply, making operations unsustainable. The company will work closely with employees, contractors, suppliers, customers, and government stakeholders during the transition. Methanex does not expect material cash costs from this decision and will update production or financial guidance with its quarterly communications. President and CEO Rich Sumner noted the facilities have operated for over four decades and the company will safely idle and preserve the plant for potential future restart.

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Idling New Zealand plants due to declining gas availability and lack of new supply.

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