Methanex Secures Further Long-Term Gas Supplies in New Zealand
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/14/12 -- Methanex
Corporation (TSX:MX)(NASDAQ:MEOH)(SANTIAGO:Methanex) announced today
that it has secured further gas supplies in New Zealand. The new gas
quantities equate to about 2.5 million tonnes of methanol production
over the next five years.
Bruce Aitken, President and CEO of Methanex commented, "This new gas,
combined with the 10-year agreement signed earlier this year,
underpins long term production at our Motunui site. These agreements
are a reflection of the improved natural gas supply position that has
developed in New Zealand over the past several years. We are
continuing to work with suppliers and are optimistic that we will be
able to secure more gas to underpin the restart of the Waitara Valley
Plant next year."
Methanex is a Vancouver-based, publicly traded company and is the
world's largest supplier of methanol to major international markets.
Methanex shares are listed for trading on the Toronto Stock Exchange
in Canada under the trading symbol "MX"; on the NASDAQ Global Market
in the United States under the trading symbol "MEOH"; and on the
Foreign Securities Market of the Santiago Stock Exchange in Chile
under the trading symbol "Methanex". Methanex can be visited online
FORWARD-LOOKING INFORMATION WARNING
This press release contains forward-looking statements with respect
to us and our industry. Statements that include the words "expects,"
"may," "is optimistic" or other comparable terminology and similar
statements of a future or forward-looking nature identify
More particularly and without limitation, any statements regarding
the following are forward-looking statements:
-- expected new methanol supply,
-- expected re-starts of existing methanol supply (including our own
facilities) and timing of same,
-- expected levels and timing of natural gas supply to our facilities,
-- expected operating costs, including natural gas feedstock costs.
We believe that we have a reasonable basis for making such
forward-looking statements. The forward-looking statements in this
document are based on our experience, our perception of trends,
current conditions a
nd expected future developments as well as other
factors. Certain material factors or assumptions were applied in
drawing the conclusions or making the forecasts or projections that
are included in these forward-looking statements, including, without
limitation, future expectations and assumptions concerning the
-- success of natural gas exploration in New Zealand,
-- production rates of our facilities,
-- operating costs including natural gas feedstock costs.
However, forward-looking statements, by their nature, involve risks
and uncertainties that could cause actual results to differ
materially from those contemplated by the forward-looking statements.
The risks and uncertainties primarily include those attendant with
producing and marketing methanol and successfully carrying out major
capital expenditure projects in various jurisdictions, including
-- the success of natural gas exploration and development activities in New
Zealand and our ability to obtain additional gas in New Zealand on
commercially acceptable terms,
-- the ability to successfully carry out corporate initiatives and
-- other risks described in our 2011 Management's Discussion and Analysis.
Having in mind these and other factors, investors and other readers
are cautioned not to place undue reliance on forward-looking
statements. They are not a substitute for the exercise of one's own
due diligence and judgment. The outcomes anticipated in
forward-looking statements may not occur and we do not undertake to
update forward-looking statements except as required by applicable
Director, Investor Relations
604 661 2600 or Toll Free: 1 800 661 8851
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