Methanol Holdings Trinidad Limited (MHTL) has idled its M2 methanol plant in Trinidad (temporarily).
The decision was taken “as a result of current market prices and flattened demand for methanol.”
Weak demand for petrochemicals has led to several other plants being idled in Pt Lisas and abroad. In Trinidad, 5 plants have been idled in the last 6 months.
(click here to learn more about falling petrochemical prices prices)
MHTL produces 4 million MT of methanol per year and the M2 plant contributes 550,000 MT / year to that total.
The company has indicated that “The plant will remain idled until conditions are more favourable. We do not expect this decision to have any impact on our employee headcount at this time.
We will continue to closely monitor market conditions to determine any future changes to production,” the company said.