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Tuesday, September 26 2017 @ 06:56 AM AST

Methanex not lifting gas supply expectations from Trinidad on Juniper

"In Trinidad, our share of production was 396,000 tonnes in the first quarter of 2017 compared with 455,000 tonnes in Q4 2016. We continue to experience gas curtailments in Trinidad. Gas availability in the first quarter of 2017 remained at levels consistent with the fourth quarter of 2016 while mechanical issues at the Trinidad facility has resulted in some lost production in the quarter. We continue to expect to receive approximately 85% of our contracted gas supply in Trinidad for the foreseeable future," said Methanex President and CEO John Floren (left) on an April 27 conference call with investors.

During the Q&A of the call, analyst Daniel Jester of Citi posed a question: "I just wanted to ask about Trinidad. It seem like the Juniper project is making some progress. I know you haven't changed your kind of outlook officially for Trinidad. But as you think about the risk, is there a risk that Trinidad gas availability starts to improve into 2018 from what you see today?"

Floren responded: "I think we're comfortable with the guidance we provided at 85%. There are some interesting activities happening in Trinidad. They're probably a bit over due and probably just replaced a client at this time. So I think from my perspective, until we see something more significant to the end of the decade, 85% is probably a fairly good guidance. And if we didn't see these activities, maybe we'd have to revise that guidance downward. So I'm happy with 85%."

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