Methanex Provides Update on Trinidad and Tobago Operations
Rhea-AI Summary
Methanex (TSX: MX, Nasdaq: MEOH) will begin indefinitely idling its 860,000 tonne-per-year Titan methanol plant in Trinidad and Tobago after being unable to secure a new natural gas contract before the existing one expires in Q3 2026.
The company will preserve the facility for a potential future restart, while its Atlas joint-venture plant (63.1% economic interest) also remains indefinitely idled. Titan is not contributing to Adjusted EBITDA or Adjusted Free Cash Flow, and Methanex does not expect material cash costs from this decision. Any updates to production or financial guidance are expected with second-quarter results on July 28, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Positive
- Titan plant currently not contributing to Adjusted EBITDA or Adjusted Free Cash Flow
- Company does not expect to incur material cash costs from idling decision
- Preservation process maintains optionality for a future restart if conditions improve
Negative
- Titan methanol plant (860,000 tonnes per year) to be indefinitely idled
- Ongoing structurally tight gas supply and demand balances in Trinidad and Tobago
- Atlas methanol plant joint venture remains indefinitely idled in preserved state
- Potential future impact on production and guidance to be addressed July 28, 2026
News Market Reaction – MEOH
On the day this news was published, MEOH declined 5.43%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 30 | AGM results | Neutral | -2.0% | Annual meeting outcomes and governance votes, including director elections and say-on-pay. |
| Apr 29 | Dividend declaration | Positive | +3.5% | Quarterly cash dividend announcement, reinforcing ongoing cash returns to shareholders. |
| Apr 29 | Q1 2026 earnings | Positive | +3.5% | Improved Adjusted EBITDA, positive adjusted net income, and constructive pricing outlook. |
| Mar 06 | Sustainability report | Positive | +6.4% | 2025 sustainability progress, including early achievement of emissions intensity targets. |
| Mar 05 | Q4 2025 earnings | Neutral | -12.7% | Quarterly loss with impairment but solid full-year EBITDA and cash generation metrics. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news often produced positive reactions to dividends, earnings improvements and ESG updates, with occasional divergences around routine governance and prior earnings results.
Regulatory & Risk Context
Short positioning appears relatively low, implying limited squeeze dynamics and only moderate added volatility from short covering.
Key Terms
adjusted ebitda financial
adjusted free cash flow financial
joint venture financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, British Columbia, June 29, 2026 (GLOBE NEWSWIRE) -- Methanex Corporation (the “Company” or “Methanex”) (TSX: MX) (Nasdaq: MEOH) announced today that it has been unable to agree to a new natural gas contract for its Titan methanol plant in Trinidad and Tobago (860,000 tonnes per year capacity) and, as a result, will begin the process of indefinitely idling the facility. Titan’s existing natural gas contract expires in the third quarter of 2026. Methanex will undertake a preservation process at the Titan plant to provide optionality for a future restart should conditions materially improve. The Atlas methanol plant, a joint venture in which Methanex holds a
Rich Sumner, President and CEO, Methanex Corporation, stated, “We have a long history in Trinidad and Tobago with an outstanding organization that has played an important role in our Company’s history. This difficult decision reflects our focus on preserving long-term shareholder value in a challenging environment where the structurally tight gas supply and demand balances in Trinidad and Tobago are making operations commercially unviable. Ahead of this decision, we engaged extensively with the Government of Trinidad and Tobago and the National Gas Company of Trinidad and Tobago, and we recognize and appreciate their ongoing efforts to address the country’s gas supply challenges. We will monitor future developments closely, with a view to reassessing conditions and our position over the coming years. We are now focused on supporting our team members during this challenging period and safely idling and preserving the facility.”
Titan is not currently contributing to the Company’s Adjusted EBITDA and Adjusted Free Cash Flow. Methanex does not expect to incur material cash costs as a result of this decision and any updates to production or financial guidance will be released with Methanex’s regular second quarter financial communications scheduled for July 28, 2026.
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 WARNING
This 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 methanol and energy prices,
- 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, and
- expected actions of governments, governmental agencies, gas suppliers, courts, tribunals or other third parties.
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, and
- global 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, and
- other risks described in our 2025 Annual Management’s Discussion and Analysis and our First 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, CFA
Vice President, Investor Relations
Methanex Corporation
604-661-2600 or Toll Free: 1-800-661-8851
www.methanex.com
