HP Impact: Methanol: next capacity wave, rationalization
The year 2003 has witnessed both short supply and continuing high natural gas prices in the US. Unexpected industry losses of supply early in the year, totaling as much as 800 thousand metric tons, ar..
The year 2003 has witnessed both short supply and continuing high natural gas prices in the US. Unexpected industry losses of supply early in the year, totaling as much as 800 thousand metric tons, are gradually being recouped, according to an outlook from CMAI (www.cmaiglobal.com).
Global operating rates are at near record levels. At the same time, natural gas prices are again establishing a "floor" price for methanol, near the $200/metric ton level. As the winter heating season approaches, natural gas pricing is poised to rise, and thus a higher floor-price level for methanol.
Near term, 2004 appears to offer little relief, says this analysis. The first "mega" methanol unit, the 1.75 m
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