Sector News

Mitsubishi Gas Chemical and partners finalize $1 billion methanol and DME investment in Trinidad

April 13, 2015
Chemical Value Chain
Mitsubishi Gas Chemical (MGC), Mitsubishi Corp. (MC) and Mitsubishi Heavy Industries (MHI) announced today that they have signed an agreement with state-owned National Gas Company of Trinidad and Tobago (NGC) and Massy Holdings (Massy) for the construction of a previously announced methanol and dimethyl ether (DME) manufacturing complex in Trinidad and Tobago. Investment costs have been estimated at $1 billion. The partners have also concluded the engineering, procurement and construction and gas supply contracts as well as land leases for the facilities. Discussions are currently underway with a syndicate of Japanese banks to finalize a loan agreement.
 
The complex will be owned by Caribbean Gas Chemical, a joint venture in which MGC and MC will each have a 26.25% stake, MHI 17.5%, NGC 20% and Massy 10%. It will be built at La Brea and will be designed to produce 1 million m.t./year of methanol and 20,000 m.t./year of DME. Startup is scheduled for October 2018.
 
The methanol produced at the facility will be marketed worldwide by MGC, MC and Massy. The partners will also work closely with the government of Trinidad and Tobago to promote the use of DME as a substitute for diesel in Trinidad and Tobago and in other Caribbean countries. Plant design and construction will be undertaken by MHI.
 
By Natasha Alperowicz
 

comments closed

Related News

October 23, 2021

INEOS to take leading role in the hydrogen revolution with launch of hydrogen campaign

Chemical Value Chain

INEOS, Europe’s biggest operator of electrolysis needed to produce clean, low carbon hydrogen, has doubled down on its €2 billion investment in green hydrogen with the launch of a hydrogen advocacy campaign. The campaign kicked off with the publication of a powerful editorial in the Sunday Telegraph on the hydrogen economy written by Sir Jim Ratcliffe, INEOS’s founder and chairman.

October 23, 2021

Vertellus completes acquisition of IM Chemicals

Chemical Value Chain

Vertellus, a manufacturer of specialty products for consumer goods, food & agriculture, healthcare, and industrial markets, today announced the completion of its acquisition of IM Chemicals. With the addition of IM Chemicals, Vertellus expands its specialty ingredients portfolio into new markets and bolsters its manufacturing capabilities in Europe.

October 23, 2021

Johnson Matthey announces research project aimed at catalytic reduction if dairy methane emissions

Chemical Value Chain

A new collaboration between scientists, engineers, industry and farming experts hopes to demonstrate how clever technology can reduce the powerful greenhouse gases released by livestock to help agriculture reach carbon emissions targets.

Send this to a friend