Methanex paid $75m to sell its gas and idle operations

NZ's largest gas user Methanex has been winding back operations. (Image: NZME)

Tue, 12 Nov 2024

Methanex was paid US$45 million (NZ$75.3m) for gas sales during the period when it closed operations to help electricity generators through this winter's energy crunch.The company’s global parent said in its quarterly operating reporting for the three months to Sept 30 that its New Zealand operation also recorded a US$90m non-cash impairment (net of tax) after the decision to indefinitely wind back operations at its Taranaki site to just one plant, resulting in the loss of 70 jobs.The unexpected rapid decline in gas supply early in 20...

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