Comments on: Drilling Disruption at Lewis Wetzel Wildlife Management Area https://www.frackcheckwv.net/2013/07/29/drilling-disruption-at-lewis-wetzel-wildlife-management-area/ Just another WordPress site Wed, 14 Feb 2024 02:06:39 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Arnie Reynolds https://www.frackcheckwv.net/2013/07/29/drilling-disruption-at-lewis-wetzel-wildlife-management-area/#comment-35290 Arnie Reynolds Sat, 03 Aug 2013 05:45:57 +0000 http://www.frackcheckwv.net/?p=8928#comment-35290 The shale gas revolution has meant a huge increase in the abundance and affordability of natural gas. Yet, natural gas is not the only big success story from the last few years -- methanol, a valuable feedstock, is having a boom of its own. For example, Methanex is increasing its profits while projects to increase capacity are underway. The global methanol producer, which is currently exploring expansion options in Canada while upgrading facilities at Medicine Hat and Louisiana, reported before-tax and adjustments income of $157 million in three months. Higher methanol pricing was the driver behind the $10-million increase to income over the first quarter of 2013. In the short-term, pricing is stable, but ultimately depends on the strength of the global economy, fuel costs, demand and the addition of new supply additions. A project to speed up processing in Medicine Hat and add about 20 per cent, or about 90,000 tonnes, of production should be completed by the early fall of 2013. Methanex has also begun a process to determine expansion sites in Canada for a new $1-billion facility and as part of that has made a preliminary application to change its environmental operating licence in Medicine Hat. If built, a second plant at Medicine Hat could be operational in 2017. Currently, the company is in the process of relocating a one-million tonne facility from Chile to the southern United States and hopes to have a similarly-sized second plant operational in early 2016. Overall, Methanex hopes to increase production by 60 per cent overall over the next three years. The shale gas revolution has meant a huge increase in the abundance and affordability of natural gas. Yet, natural gas is not the only big success story from the last few years — methanol, a valuable feedstock, is having a boom of its own.

For example, Methanex is increasing its profits while projects to increase capacity are underway. The global methanol producer, which is currently exploring expansion options in Canada while upgrading facilities at Medicine Hat and Louisiana, reported before-tax and adjustments income of $157 million in three months.

Higher methanol pricing was the driver behind the $10-million increase to income over the first quarter of 2013. In the short-term, pricing is stable, but ultimately depends on the strength of the global economy, fuel costs, demand and the addition of new supply additions.

A project to speed up processing in Medicine Hat and add about 20 per cent, or about 90,000 tonnes, of production should be completed by the early fall of 2013.

Methanex has also begun a process to determine expansion sites in Canada for a new $1-billion facility and as part of that has made a preliminary application to change its environmental operating licence in Medicine Hat. If built, a second plant at Medicine Hat could be operational in 2017.

Currently, the company is in the process of relocating a one-million tonne facility from Chile to the southern United States and hopes to have a similarly-sized second plant operational in early 2016. Overall, Methanex hopes to increase production by 60 per cent overall over the next three years.

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