Methanex Enters Into A Settlement Agreement With Argentina Gas Supplier

Methanex Enters Into A Settlement Agreement With Argentina Gas Supplier 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/02/14 --  
Methanex Corporation (TSX: MX)(NASDAQ: MEOH), via its wholly owned
subsidiary Methanex Chile S.A., has reached an agreement with Total
Austral S.A. of Argentina in relation to Total's natural gas delivery
obligations pursuant to a long-term natural gas supply agreement
between the two companies. Total will make a lump sum payment of
US$42 million to Methanex in order to terminate the agreement and
settle all potential legal disputes thereunder. 
John Floren, President and CEO of Methanex, said, "We are pleased to
have reached an agreement with Total, and we believe that the
settlement represents fair value for Methanex shareholders. We will
continue to focus our efforts in Chile on realizing full value from
our remaining assets including non-performing natural gas contracts.
Mr. Floren continued, "We have a first class operation in Chile and
remain optimistic that we can continue to operate in the region,
supported by gas supplies from both Chile and Argentina." 
Methanex is a Vancouver-based, publicly traded company and is the
world's largest producer and 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" and on
the NASDAQ Global Market in the United States under the trading
symbol "MEOH". Methanex can be visited online at 
This press release contains forward-looking statements with respect
to us and our industry. Statements that include the words "will",
"can", 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: 

--  Methanex's ability to continue to operate its remaining Chile plants in
    the foreseeable future 
--  Methanex's ability to secure gas to support its operations in Chile 
--  Methanex's ability to realize future value from its existing Chilean

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 and 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

--  Availability in the future of gas supply in southern Chile and Argentina
    on commercially acceptable terms

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 those risks described in our 2013 Management's Discussion
and Analysis and our First Quarter 2014 Management's Discussion and
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. 
Investor Inquiries:
Sandra Daycock
Director, Investor Relations
Methanex Corporation
604-661-2600 or Toll Free: 1 800 661 8851 
Media Inquiries:
Baljit Lalli
Manager, Communications
Methanex Corporation
604-661-2600 or Toll Free: 1 800 661 8851
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