Newly-built 4-million-ton Methanol Capacity: Focus on the Asia Market

https://www.chemnet.com   Apr 30,2010

　　PUWORLD(2010-4-26)——Four new methanol facilities with capacity of nearly 3.96 mt/y will start commercial operation at the second half of this year. According to market sources, these newly-built capacities will mainly supply to the Asia, so as to ease the tense situation at Asia market.

　　The four new methanol capacities are: Brunei 850kt/y methanol project co-built by Mitsubishi Gas Chemical Company and Itochu Corporation, PhaseⅡ850kt/y methanol capacity located in Venezuela, PhaseⅡ1 million t/y facility built by Omen Methanol Company and the 1.26 million t/y methanol plant located in Egypt built by Methanex. As yet, Brunei 850kt/y methanol project has finished construction and will inaugurate Opening ceremony on May 25.

　　Analysts pointed out that global demand for methanol had exceeded 42 million tons in 2009, amid which 14 million tons came from China and about 20 million tons from other countries in Asia. With Asian countries led the pace of economic recovery, demand into methanol from China will exceed 2 million tons this year, while other countries in Asia 3 million tons. They also indicated that any production issues will impact a lot on market prices.

 Print  |    add to Favorites  |    Close