Methanex to indefinitely idle New Zealand production facilities

VANCOUVER, British Columbia, Sept. 01, 2026 /CourierPR/ -- Methanex, a global leader in methanol production, announced plans to indefinitely idle its New Zealand production facilities starting in the first quarter of 2027. The decision follows a long-term decline in domestic natural gas availability and the lack of a clear pathway to new supply. Methanex has entered into an agreement to sell its remaining New Zealand natural gas contractual entitlements, which will extend through the end of the decade.

According to Rich Sumner, President and CEO of Methanex, the company's New Zealand facilities have operated for more than four decades, significantly contributing to the company's global operations and the local energy sector. "While our facilities have served us well, the declining gas availability in New Zealand has forced us to prepare for this transition," Sumner stated. "We have been actively managing the supply to match available rates and selling gas into the New Zealand markets when appropriate."

Sumner emphasized the company's commitment to supporting its team members during this transition period. "We are focused on safely operating the plant over the next several months and then idling the facility to preserve long-term optionality," he added. Methanex does not anticipate incurring significant cash costs as a result of this decision and will update its production or financial guidance in its upcoming quarterly communications.

The company's decision underscores the challenges faced by natural gas-dependent industries in countries experiencing declining gas availability. Methanex's move to exit its New Zealand operations highlights the broader issues of energy transition and the uncertainties surrounding the future supply of natural gas.

The company has warned that forward-looking statements in its news release, including those related to potential future operations and financial performance, are based on current expectations and assumptions. Methanex advises readers to exercise due diligence and judgment when considering these statements.