Methanex plant in Louisiana back up and running following repairs

By Medicine Hat News on August 17, 2024.

@MedicineHatNews

Methanex has successfully started its new major production plant in Louisiana after repair work this spring on the Geismar 3 facility.

The Vancouver-based methanol producer with a major plant in Medicine Hat reported the news in its second-quarter financial update this month.

The firm reported net income for the quarter at US$35 million, lower than the same period in 2023 on lower sales at slightly higher prices, but similar on an adjusted basis.

Giesmar 3, with a 1.8-million tonne annual capacity, was scheduled to come online last February, but was delayed when the company reported that bricks for the refractory processing unit needed to be replaced. The repairs were expected to be complete in the third quarter, but Methanex reported the unit was started in late July and was ramping up to capacity in August.

This month, Methanex also reported it would reduce production at its New Zealand facility as part of a commercial agreement to divert feedstock gas to the country’s electric production market.

7
-6