Methanex Signs Offtake Agreement with OCI at Beaumont, TX

Methanex says it has entered into a long-term offtake agreement with Orascom Construction Industries (OCI; Cairo), for a significant portion of the production from its methanol plant at Beaumont, TX, which is expected to begin commercial production in June. OCI operates an integrated ammonia and methanol production facility at Beaumont with the capacity to produce 250,000 m.t./year of anhydrous ammonia and 750,000 m.t./year of methanol. Methanex says global methanol demand grew about 7% in 2011 and is currently 50 million m.t. on an annualized basis. Increases in...

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