Methanex Corporation’s New Zealand arm has finalised gas contracts with a number of Taranaki-based suppliers to allow its Motunui methanol plant to continue operating until the end of 2011.
Supply contracts for the plant, which has a capacity of 900,000 t/a of methanol, include options for further natural gas supplies in 2012.
The company said that it estimated global demand for methanol to be at all-time high levels.
Approximately 90 per cent of the methanol produced at the Motunui plant is shipped to customers in Asia. The remaining 10 per cent is supplied to the local New Zealand market.
Methanex also said that it has the potential to increase its methanol production capacity in New Zealand by up to 1.4 MMt/a. The company said that any such increase would depend on world markets for methanol and natural gas.
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