Methanex announces sale of New Zealand natural gas entitlements
1 report, 1 independent
Updated Thu 00:00
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What happened
Methanex announced an agreement to sell substantially all of its remaining New Zealand natural gas contractual entitlements starting in the first quarter of 2027. This sale covers entitlements that expire at the end of the decade. The company also reported record North American methanol production of 2,143,000 tonnes in the third quarter.
From recorder.ca
Why it matters
The expected idling of the New Zealand production facilities during the first quarter of 2027 resulted in a $10 million accrual for restructuring activities. The sale of these entitlements impacts Methanex's long-term operational footprint in New Zealand.
From recorder.ca
Who's involved
- MethanexCanadian methanol company selling New Zealand gas entitlements
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The entities involved
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Methanex
Canadian methanol company
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