Canada’s Methanex, which operates Egypt’s sole methanol plant, the 1.26mn t/y EMethanex facility at Damietta on the Mediterranean coast, made more cash during Q3 2022 when the plant was largely shuttered than when the plant was operating at full capacity.
From late July to late October 2022 the firm took advantage of a planned turnaround “to enter into an agreement to redirect and sell the plant’s contracted natural gas.” “This was a unique opportunity to utilize excess LNG capacity in Egypt during a period of elevated LNG prices in Europe and was done in collaboration with our Egyptian government partners,” Methanex reveals in its 2022 results on 2 February. (CONTINUED - 482 WORDS)
