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Methanex to Sell Most New Zealand Natural Gas Entitlements, Idle Production Facilities in 2027

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Methanex (MX.TO. MEOH) said Tuesday it agreed to sell substantially all of its New Zealand natural gas contractual entitlements, starting in the first quarter of 2027 through the end of the decade.

The company said declining domestic natural gas availability and the absence of a clear path to meaningful new supply have made continued operations in New Zealand unsustainable.

As a result, Methanex expects to indefinitely idle its New Zealand production facilities during the first quarter of 2027.

The company said it will work with employees, contractors, suppliers, customers and government stakeholders during the transition.

Shares of the company closed up C$1.96 at C$83.52 on Toronto Stock Exchange on Tuesday.

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