Methanex Secures Further Long-Term Gas Supplies in New
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 at www.methanex.com.
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 forward-looking statements.
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 following:
-- 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 without limitation:
-- 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 strategies, 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 securities laws. Contacts: Jason Chesko Director, Investor Relations Methanex Corporation 604 661 2600 or Toll Free: 1 800 661 8851 www.methanex.com