Methanex (NASDAQ: MEOH) idles 860k t/y Titan Trinidad methanol plant

Rhea-AI Filing Summary

Methanex Corporation is beginning the process of indefinitely idling its Titan methanol plant in Trinidad and Tobago after being unable to secure a new natural gas contract. Titan has capacity of 860,000 tonnes per year and its existing gas contract expires in the third quarter of 2026.

The company will place Titan in a preserved state to maintain the option of a future restart if conditions improve. Methanex notes that Titan is not currently contributing to Adjusted EBITDA or Adjusted Free Cash Flow and does not expect to incur material cash costs from this decision.

The Atlas methanol plant in Trinidad and Tobago, in which Methanex holds a 63.1% economic interest, also remains indefinitely idled in a preserved state. Any changes to production or financial guidance will be provided with Methanex’s regular second quarter communications scheduled for July 28, 2026.

Insights

Chemicals sector equity analyst

Methanex is formalizing long-running idling in Trinidad with limited near-term financial impact.

Methanex is moving its 860,000 tonnes per year Titan plant in Trinidad and Tobago into an indefinitely idled, preserved state after failing to agree a new natural gas contract before the existing deal expires in the third quarter of 2026.

The company emphasizes Titan is not currently contributing to Adjusted EBITDA or Adjusted Free Cash Flow, and it does not expect material cash costs from the decision. This suggests most economic impact from curtailed Trinidad operations has already been reflected in results.

Both Titan and the Atlas joint venture plant, where Methanex holds a 63.1% economic interest, now remain idled but preserved, keeping future restart optionality tied to improved gas availability and pricing. Updated production and financial guidance are expected with second quarter communications on July 28, 2026.

Key Figures

Titan capacity: 860,000 tonnes per year Atlas economic interest: 63.1% Titan gas contract expiry: Q3 2026 +1 more

4 metrics

Titan capacity 860,000 tonnes per year Nameplate capacity of Titan methanol plant in Trinidad and Tobago

Atlas economic interest 63.1% Methanex’s economic interest in the Atlas methanol plant joint venture

Titan gas contract expiry Q3 2026 Existing natural gas contract for Titan plant expires in the third quarter of 2026

Guidance update date July 28, 2026 Second quarter financial communications when any guidance updates will be released

Key Terms

Adjusted EBITDA, Adjusted Free Cash Flow, indefinitely idling, forward-looking statements, +1 more

5 terms

Adjusted EBITDA financial

"Titan is not currently contributing to the Company’s Adjusted EBITDA and Adjusted Free Cash Flow."

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Adjusted Free Cash Flow financial

"Titan is not currently contributing to the Company’s Adjusted EBITDA and Adjusted Free Cash Flow."

Adjusted free cash flow is the amount of money a company generates from its operations after accounting for essential expenses and investments, like maintaining or upgrading equipment. It shows how much cash is truly available to grow the business, pay debts, or return to shareholders, helping investors see the company's financial health more clearly.

indefinitely idling financial

"will begin the process of indefinitely idling the facility."

forward-looking statements regulatory

"This news release contains forward-looking statements with respect to us and our industry."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

natural gas contract financial

"it has been unable to agree to a new natural gas contract for its Titan methanol plant"

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Form 6-K: How Foreign Companies Report to the SEC →

Available on EDGAR 06/29/2026 - 05:06 PM Accepted by SEC EDGAR 06/29/2026 - 05:06 PM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

FOR THE MONTH OF JUNE 2026

COMMISSION FILE NUMBER 000-20115

METHANEX CORPORATION

(Registrant’s name)

SUITE 1800, 200 BURRARD STREET, VANCOUVER, BC V6C 3M1 CANADA

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F     o Form 40-F     þ

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

NEWS RELEASE

Methanex Corporation

1800 - 200 Burrard St.

Vancouver, BC Canada V6C 3M1

Investor Relations: 604-661-2600

Toll-Free: 1-800-661-8851

http://www.methanex.com

For immediate release

June 29, 2026

METHANEX PROVIDES UPDATE ON TRINIDAD AND TOBAGO OPERATIONS

VANCOUVER, BRITISH COLUMBIA (June 29, 2026) - 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 63.1% economic interest, remains indefinitely idled in a preserved state.

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.

-end-

Inquiries:

Robert B. Winslow, CFA

Vice President, Investor Relations

Methanex Corporation

604-661-2600 or Toll Free: 1-800-661-8851

www.methanex.com

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

METHANEX CORPORATION

Date:  June 29, 2026

By:

/s/ KEVIN PRICE

Name:

Kevin Price

Title:

SVP, General Counsel & Corporate Secretary

FAQ

What operational change did Methanex (MEOH) announce for its Trinidad Titan plant?

Methanex will begin indefinitely idling its Titan methanol plant in Trinidad and Tobago after failing to reach a new natural gas contract. Titan, with 860,000 tonnes per year capacity, will be preserved to allow a potential future restart if gas market conditions improve.

Why is Methanex (MEOH) idling the Titan methanol plant in Trinidad and Tobago?

Methanex is idling the Titan plant because it was unable to agree on a new natural gas contract before the current agreement expires in the third quarter of 2026. Structurally tight gas supply and demand in Trinidad and Tobago have made operations commercially unviable.

How will idling Titan affect Methanex’s (MEOH) current financial performance?

Methanex states that Titan is not currently contributing to its Adjusted EBITDA or Adjusted Free Cash Flow, so near-term earnings impact should be limited. The company also does not expect to incur material cash costs as a result of idling and preserving the facility.

What is the status of Methanex’s Atlas methanol plant in Trinidad and Tobago?

The Atlas methanol plant, in which Methanex holds a 63.1% economic interest, remains indefinitely idled in a preserved state. This means operations are paused but the plant is maintained so it could restart in the future if economic and gas supply conditions improve.

When will Methanex (MEOH) update production or financial guidance after the Titan decision?

Methanex plans to provide any updates to production or financial guidance with its regular second quarter financial communications scheduled for July 28, 2026. Investors can expect a consolidated view then on how Titan’s idling fits into broader operational and financial plans.

What is the production capacity of Methanex’s Titan plant being idled?

The Titan methanol plant in Trinidad and Tobago has a production capacity of 860,000 tonnes per year. Despite this significant capacity, it is currently not contributing to Methanex’s Adjusted EBITDA or Adjusted Free Cash Flow and will now be indefinitely idled and preserved.