Methanex Corporation will indefinitely idle its Titan methanol plant in Trinidad and Tobago after failing to secure a new natural gas contract, a move driven by structurally tight gas supply that renders operations commercially unviable. The facility, which has a capacity of 860,000 tonnes per year, will undergo a preservation process to maintain the option for a future restart should market conditions materially improve. Titan’s existing natural gas contract expires in the third quarter of 2026. The decision impacts the company's footprint in the region, where it also holds a 63.1% economic interest in the Atlas methanol plant, which remains indefinitely idled in a preserved state.

Rich Sumner, President and CEO, Methanex Corporation, stated that the difficult decision reflects a focus on preserving long-term shareholder value in a challenging environment. He noted that the company engaged extensively with the Government of Trinidad and Tobago and the National Gas Company of Trinidad and Tobago regarding the gas supply challenges. Methanex will monitor future developments with a view to reassessing its position in the coming years while prioritizing the safe idling and preservation of the facility and supporting its team members.

The Titan plant is not currently contributing to Methanex’s Adjusted EBITDA or Adjusted Free Cash Flow. The company does not expect to incur material cash costs as a result of the idling decision. Any updates to production or financial guidance are scheduled to be released with Methanex’s regular second quarter financial communications on July 28, 2026.

Operational Status of Methanex Facilities

Methanex is a Vancouver-based publicly traded company and the world’s largest supplier of methanol. Its shares are listed on the Toronto Stock Exchange under the symbol "MX" and on the Nasdaq Stock Market under the symbol "MEOH".