en.Wedoany.com Reported - Multiple new gas fields set to begin production in 2027 are expected to provide sufficient natural gas feedstock for Trinidad and Tobago's methanol industry, potentially creating conditions for restarting idle methanol plants in the country.
Methanex previously announced it would idle its Titan plant in the country, which has a capacity of 860,000 tonnes per year, with its natural gas contract expiring in the third quarter. In a statement, the company said it would place the Titan plant under preservation maintenance to retain the option for restart when conditions significantly improve, adding that it would closely monitor developments with a view to reassessing the situation and positioning in the coming years.
Methanex CEO Rich Sumner noted that structural tightness in natural gas supply and demand in Trinidad and Tobago has made operations commercially unviable. However, the emergence of new gas fields could change this situation. In addition to the Titan plant, the Atlas methanol facility, in which Methanex holds a 63.1% stake, is also idle.
Shell and bp are expected to begin production at four new gas fields in 2027. Among them, bp-operated Mento field has a peak production capacity of 250,000 barrels of oil equivalent per day, and the Ginger field 62,000 barrels of oil equivalent per day; Shell's Manatee field has a peak capacity of 104,000 barrels of oil equivalent per day, and the Aphrodite field 18,400 barrels of oil equivalent per day.
The start of natural gas production from new fields will not automatically lead to the restart of methanol plants. Gas output will need time to ramp up to meet the demands of both liquefied natural gas (LNG) facilities and idle methanol plants. If fuel prices remain profitable and the methanol market continues to be oversupplied, LNG facilities may receive priority supply.
Josh Dillingham, ICIS Director of Aromatics and Intermediates Chemicals, said that Trinidad's methanol plants have been struggling with dwindling natural gas supplies for years. According to data from the U.S. Energy Information Administration (EIA), the island nation's dry gas production in 2024 fell nearly 70% from a recent peak of 1.51 trillion cubic feet reached in 2013. The Iran war has intensified competition for limited gas supplies, with the conflict pushing up LNG prices and providing a profitable export channel for Trinidad's producer, National Gas Co. Meanwhile, according to ICIS forecasts, the global methanol market may remain oversupplied for the remainder of this decade.
Faced with this situation, Methanex has two options: pay high prices for natural gas and sell methanol in an oversupplied market, or idle its Trinidad plants and maximize production at operations where North American natural gas prices are far below international levels. By idling the Titan plant, Methanex can increase operating rates at more profitable facilities while retaining the option for a future restart.
The company is unlikely to idle other chemical plants in Trinidad. National Gas Co. has signed new sales contracts with Methanol Holdings (Trinidad) Limited (MHTL), as well as ammonia producers Proman Group, Trinidad Nitrogen Company Limited (TRINGEN), and Point Lisas Nitrogen Limited (PLNL). Although Nutrien conducted a controlled shutdown of its ammonia plant in October 2025, it was in response to port access restrictions. ICIS Senior Fertilizer Editor Mark Milam said that the remaining ammonia producers in Trinidad have been receiving sufficient natural gas to operate their plants at favorable utilization rates.
