The world's largest methanol supplier, the Vancouver-based Methanex, confirmed it intends to move a second plant from Chile to Geismar, Louisiana,
The world's largest methanol supplier, the Vancouver-based methanex, confirmed it intends to move a second plant from Chile to Geismar, Louisiana, just a 30 minute drive south of Baton Rouge. The announcement, made Thursday in the company's quarterly report, stated the decision was made as a result of the continuing challenge of securing a sustainable natural gas feedstock in Chile.
The December Fitch report stated the Canadian company would spend roughly $1 billion to relocate both plants.
It is unclear when the second Chilean plant would be operational after relocation or how many extra jobs would be added.
Methanol is most often produced by taking natural gas and compressing it into a liquid form. The most common use of methanol is making chemicals such as formaldehyde, often used in housing.
From there, the chemicals made using methanol are found in just about everything -- from plastics, plywood and paints to synthetic fabrics. Methanol can also be used as fuel, a much cleaner and greener gasoline substitute.