Methanex Provides Update on New Zealand Operations

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeGlobeNewswireThis section is The content in this section is supplied by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by GlobeNewswire Methanex Provides Update on New Zealand OperationsAuthor of the article:VANCOUVER, British Columbia, Sept. 01, 2026 (GLOBE NEWSWIRE) — Methanex Corporation (the “Company” or “Methanex”) (TSX: MX) (Nasdaq: MEOH) announced today that it has entered into an agreement to sell substantially all of its New Zealand natural gas contractual entitlements commencing in the first quarter of 2027 and continuing through the end of the decade when such entitlements expire. Given the continued decline in domestic natural gas availability and the lack of a clear pathway to meaningful new supply, Methanex has determined that continued operations in New Zealand are not sustainable and as such has taken steps to optimize value from its remaining New Zealand gas position. As a result of this agreement, the Company expects to indefinitely idle its New Zealand production facilities during the first quarter of 2027 and will work closely with employees, contractors, suppliers, customers and government stakeholders during this transition period.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountRich Sumner, President and CEO, Methanex Corporation, stated, “Our New Zealand production facilities have operated for more than four decades and our people have made significant contributions to the Company’s global operations and the New Zealand energy sector. However, we have also been preparing for the eventuality of this day given the declining gas availability in the country. For several years we have actively contributed to managing New Zealand’s declining gas environment by matching our operating rates to available supply and, when appropriate, selling gas into the New Zealand energy markets. We are now focused on supporting our team members during this transition period, safely operating the plant over the next several months and then safely idling and preserving the facility for long-term optionality should future circumstances support a restart of operations.”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againMethanex does not expect to incur material cash costs as a result of this decision and any required updates to production or financial guidance will be released with Methanex’s ongoing quarterly financial communications.Methanex is a Vancouver-based, publicly traded company and is the world’s largest supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol “MX” and on the Nasdaq Stock Market in the United States under the trading symbol “MEOH”. Methanex can be visited online at www.methanex.com.FORWARD-LOOKING INFORMATION WARNINGThis 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 words “expects,” “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 the following are forward-looking statements:expected restart of idled capacity and timing for start-up of the same,expected shutdowns (either temporary or permanent) or restarts of existing methanol supply (including our own facilities),expected levels, timing and availability of economically priced natural gas supply to each of our plants,expected operating costs, including natural gas feedstock costs and logistics costs, andexpected actions of governments, governmental agencies, gas suppliers, courts, tribunals or other third parties.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.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 following:the supply of, demand for and price of methanol, methanol derivatives, natural gas, coal, oil and oil derivatives,our ability to procure natural gas feedstock on commercially acceptable terms,operating costs, including natural gas feedstock and logistics costs, capital costs, tax rates, cash flows, foreign exchange rates and interest rates, andglobal and regional economic activity (including industrial production levels).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:conditions in the methanol and other industries including fluctuations in the supply, demand and price for methanol and its derivatives, including demand for methanol for energy uses,the price of natural gas, coal, oil and oil derivatives,our ability to obtain natural gas feedstock on commercially acceptable terms to underpin current operations and future production growth opportunities,the ability to carry out corporate initiatives and strategies,actions of competitors, suppliers and financial institutions,actions of governments and governmental authorities, including, without limitation, implementation of policies or other measures that could impact the supply of or demand for methanol or its derivatives,world-wide economic conditions, andother risks described in our 2025 Annual Management’s Discussion and Analysis and our Second Quarter 2026 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.Inquiries:Robert B. Winslow, CFAVice President, Investor RelationsMethanex Corporation604-661-2600 or Toll Free: 1-800-661-8851www.methanex.comNotice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.