Methanex Update on Trinidad Natural Gas Supply Discussions
December 18 2019 - 8:30AM
Methanex Corporation (TSX:MX) (NASDAQ:MEOH) announced today that it
has entered into an interim agreement with the National Gas Company
of Trinidad and Tobago Limited (“NGC”) for the supply of natural
gas to its Titan methanol facility (“Titan”) for the period from
January 1, 2020 to January 31, 2020. The existing natural gas
supply agreement for Titan expires on December 31, 2019 and the
interim agreement will enable Methanex to continue operations at
Titan while continuing negotiations with NGC for a longer-term
natural gas supply agreement.
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 news release contains forward-looking
statements with respect to us and our industry. These statements
relate to future events or our future performance. All statements
other than statements of historical fact are forward-looking
statements. Statements that include the word "will" 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 anticipated operating rates of Methanex’s Titan plant are
forward-looking statements.
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
our ability to procure natural gas feedstock on commercially
acceptable terms and the operating rate of Titan. 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:
- our ability to obtain natural gas feedstock on commercially
acceptable terms; and
- other risks described in our 2018 Annual Management’s
Discussion and Analysis and our Third Quarter 2019 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
implied by 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, contact:
Investors:Kim CampbellManager, Investor
RelationsMethanex Corporation604 661 2600 or Toll Free: 1 800 661
8851www.methanex.com
Media:Indu SharmaDirector, Business Development,
Gas and Global Stakeholder Relations Methanex Trinidad
Limited 868 679 4400 www.methanex.com
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