Methanex

Methanex Corporation is a Canadian company that supplies, distributes and markets methanol worldwide.[1]

Methanex Corporation
TypePublic
TSX: MX
Nasdaq: MEOH
IndustryMethanol
Headquarters,
Key people
Rich Sumner, CEO
Ian Cameron, CFO
ProductsMethanol
SubsidiariesWaterfront Shipping Ltd.
Websitewww.methanex.com

Methanex is the world’s largest producer and supplier of methanol to major international markets in North and South America, Europe, and Asia Pacific.[2] Methanex is headquartered in Vancouver, British Columbia, Canada, and operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. Its global operations are supported by an extensive global supply chain of terminals, storage facilities and the world’s largest dedicated fleet of methanol ocean tankers.[1]

Methanex Corporation challenged California's plan to eliminate methyl tertiary butyl ether (MTBE) from gasoline on grounds of water pollution prevention, claiming protection under Chapter 11 of NAFTA and demanding $970 million in compensation from the state.[3] The challenge was ultimately not successful and Methanex was ordered to reimburse the U.S. government $4 million in litigation costs.[4]

In January 2012, Methanex announced it would move one of its idle Chilean plants to the United States.[5] Methanex later confirmed that they acquired land in Geismar, LA and Geismar would be the site in the United States where the idle Chilean plant would be moved to.[6] Methanex CEO, Bruce Aitken, confirmed in a press release on January 17, 2012 that the reason Methanex was shifting a methanol production plant from Chile to North America, specifically Louisiana, is due to the low price of natural gas available in North America and Louisiana.[7]

Regional marketing offices are located in Belgium, Chile, China, Egypt, Korea, Japan, the United Arab Emirates, the United Kingdom and the United States.

Waterfront Shipping Ltd.

Methanex's majority owned subsidiary, Waterfront Shipping Limited, is a global marine transportation company that operates a fleet of 30 ocean tankers.[8] In 2016, the company announced the delivery of seven first Korean and Japanese built methanol-fueled ocean tankers.[9] Methanex and Mitsui O.S.K. Lines announced plans for a strategic partnership in July 2021,[10] resulting in MOL's purchase of a 40% stake in WFS.[11]

References

  1. "About Us | Methanex Corporation". www.methanex.com. Retrieved 2017-05-09.
  2. Press, The Canadian (2021-07-16). "Methanol producer Methanex raising quarterly dividend to 12.5 cents US per share - BNN Bloomberg". BNN. Retrieved 2021-09-02.
  3. Lazaroff, Cat (11 September 2000). "US: Billion Dollar Nafta Challenge to California MTBE Ban". Environment News Service.
  4. Hogue, Cheryl (5 September 2005). "Methanex Loses U.S. Wins". C&EN Washington.
  5. Tippee, Bob (7 February 2012). "Methanex to move methanol plant to Geismar". Oil & Gas Journal.
  6. "Methanex: Global Methanol Production Facilities" (PDF) (Press release). Methanex. 8 May 2012. Archived from the original (PDF) on 7 September 2012.
  7. "Methanex Planning to Relocate a Methanol Plant to the US Gulf Coast" (Press release). Methanex. 17 January 2012. Archived from the original on 18 January 2013. Retrieved 19 June 2012.
  8. "Ocean Tanker Global Shipping | About | Waterfront Shipping". wfs-cl.com. Retrieved 2017-05-09.
  9. "Korea and Japan Welcome the First Methanol-Fueled Ocean-Going Vessels | Methanex Corporation". www.methanex.com. Retrieved 2017-05-09.
  10. "Methanex and Mitsui O.S.K. Lines Announce Agreement on Key Commercial Terms for a Strategic Partnership". Retrieved 2021-07-15.
  11. "Methanex and Mitsui O.S.K. Lines Announce Closing of Strategic Partnership". Retrieved 2022-02-01.
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