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 2, 2022

Trinseo announces potential closure of Boehlen, Germany Styrene Plant

Chemical Value Chain

Trinseo (NYSE: TSE), a specialty material solutions provider, announced it has initiated an information and consultation process with the Works Council of Trinseo Deutschland GmbH regarding the potential closure of its styrene monomer production site in Boehlen, Germany.

October 2, 2022

Celeste Mastin appointed H.B. Fuller President and CEO, succeeding Jim Owens upon his retirement

Chemical Value Chain

H.B. Fuller Company announced that Celeste Mastin, Executive Vice President and Chief Operating Officer, will succeed Jim Owens as H.B. Fuller’s President and Chief Executive Officer, effective December 4, 2022. Upon assuming the role, Mastin will also join the Company’s Board of Directors, replacing Owens, who will be retiring.

October 2, 2022

LyondellBasell realigns executive team, forms circular and low-carbon solutions business

Chemical Value Chain

New LyondellBasell CEO Peter Vanacker, who joined the company from Neste in May, today named his senior executive team and outlined organizational changes, including creation of a circular and low-carbon solutions business. All changes will be effective 1 October.