The Chile subsidiary of Methanex Corporation has reached an agreement with Empresa Nacional Del Petróleo (ENAP) for supply of gas through May 2018.
According to Methanex, this gas supply, when combined with other sources, is expected to be sufficient to allow the facility to achieve an average annual operating rate of around 60 per cent of capacity.The Chile subsidiary of Methanex Corporation has reached an agreement with Empresa Nacional Del Petróleo (ENAP) for supply of gas through May 2018. According to Methanex, this gas supply, when combined with other sources, is expected to be sufficient to allow the facility to achieve an average annual operating rate of around 60 per cent of capacity.#
The company has also signed another agreement with GeoPark Fell SpA to extend the gas supply agreement with Methanex Chile SpA, for an additional 10 years term, beyond April 2017.
"We are optimistic that our underutilised 1.7 million tons in Chile facility represent an excellent growth opportunity for Methanex,” John Floren, CEO of Methanex said.
Methanex is a Vancouver-based, publicly traded company and is the world's largest producer and supplier of methanol to major international markets. (AR)
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