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Energy

Gas market crisis averted as Methanex cuts production

Pattrick Smellie
Fri, 28 May 2021

Outages at the Pohokura field have contributed to recent gas shortages.
Pattrick Smellie
Fri, 28 May 2021
A crisis in the natural gas market has been averted following an agreement by the country’s largest user of natural gas, Methanex, to cut production at a second of its three Taranaki methanol production plants.In a joint announcement early this morning, Genesis Energy announced it would buy between 3.4 and 4.4 petajoules of natural gas from Methanex over the coming winter. Methanex will “temporarily idle one Motonui facility to improve NZ’s energy security”.Methanex had already mothballed its Waitara methanol plant in Fe...

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