NEWS RELEASE TRANSMITTED BY Marketwired
FOR: Methanex Corporation
TSX SYMBOL: MX
NASDAQ SYMBOL: MEOH
AUGUST 26, 2014
Methanex Anticipates Lower Trinidad Gas Supply in the Second Half of 2014
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 26, 2014) - Methanex
Corporation (TSX:MX)(NASDAQ:MEOH) announced that it anticipates gas
curtailments in Trinidad in the second half of 2014 to be higher than those
experienced in the first half of the year.
The National Gas Company ("NGC") has advised Methanex that it should
expect higher curtailments in the second half of 2014 due to upstream platform
maintenance and tie-in activities and the ongoing mismatch between upstream
commitments to supply NGC and downstream demand from NGC's customers.
Methanex now estimates curtailments to its two Trinidad facilities to be in the
range of 20% for the second half of 2014.
The Company continues to work with the Trinidad government and other
stakeholders with a view to resolving gas supply shortfalls to its Trinidad
plants. However, the situation is dynamic and it is difficult to forecast the
gas curtailments or when 100% gas supply can be expected to return to the
Company's Trinidad facilities.
Methanex is the operator of two plants in Trinidad, Titan and Atlas. The
Company holds 100% and 63.1% interests in the two facilities, respectively, for
a combined proportional share of capacity of approximately two million tonnes.
The plants are situated in Point Lisas Industrial Estate in central Trinidad.
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 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 "anticipates",
"estimates", "expects" or other comparable terminology and
similar statements of a future or forward-looking nature identify
forward-looking statements. More particularly and without limitation, any
statement regarding the expected length and severity of the increased gas
curtailments to our Trinidad facilities is a forward-looking statement.
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 Trinidad.
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 Second Quarter 2014
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Director, Investor Relations
604-661-2600 or Toll Free: 1 800 661 8851
INDUSTRY: Chemicals - Commodity Chemicals, Chemicals - Petrochemicals,
Chemicals - Plastics and fibers, Chemicals - Specialty Chemicals, Chemicals -
Wholesalers and Distributors
-0- Aug/27/2014 01:25 GMT
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