$MEOH

M&G Investment Management Limited reported a 15.30% stake in Methanex (MEOH), owning 11,834,166 shares. The firm acquired the shares believing they were undervalued and plans to engage with management on strategy, potentially increasing its stake or seeking changes to boost shareholder value.

Methanex, a Canadian company and New Zealand's largest gas user, will close its plant and sell its gas contracts due to insufficient supply. The move will impact around 200 employees and the local economy, but the plant may be reactivated if future gas supplies become available. Genesis Energy has secured additional gas supplies, and political parties debate the government's energy policies.

Methanex will sell its New Zealand gas entitlements and indefinitely idle its Taranaki plant by Q1 2027 due to declining gas availability. The company employs 300 people and exports 95% of its methanol production. Genesis Energy secured extra gas supplies through 2029, including 11.4 PJ from a third party and 8.6 PJ from Beach Energy, subject to approval.

Methanex will close its New Zealand plant in 2027, citing unsustainability. The company sold its gas entitlements to Genesis Energy. This decision impacts Methanex's operations and local energy markets.

Methanex plans to indefinitely idle its New Zealand plant in Q1 2027 due to declining gas availability, with no material cash costs expected. Genesis Energy secured 11.4 PJ of gas through 2029 and 8.6 PJ from 2027-2028, subject to approval, to support its generation mix and retail demand.

Methanex (TSX: MX, Nasdaq: MEOH) will sell its New Zealand natural gas entitlements and idle production facilities by Q1 2027 due to declining gas supply. The company expects no material cash costs and will support employees during the transition. Updates to guidance will be provided quarterly.

Central Bank Governor Larry Howai dismissed concerns about a foreign exchange crunch following Methanex Corporation's indefinite shutdown of its Titan methanol plant. Howai stated that diverting natural gas to other companies could boost earnings for National Gas Company (NGC) and other firms by 10%. The shutdown comes amid concerns about Trinidad and Tobago's energy outlook and foreign exchange inflows.

Sunil Jagwani and Key Group Long Term Investments LP reported a change in their ownership of Methanex Corporation (MX) common shares. The expiry of 35,000 call options on August 21, 2026, reduced their deemed beneficial ownership from 9,935,000 shares (12.84%) to 6,435,000 shares (8.32%). 35,000 put options remain outstanding.

Methanex Corp. shipped its final methanol cargo from Trinidad on August 17, confirming the indefinite idling of its Titan plant due to natural gas supply issues. The plant, with an 860,000-tonne annual capacity, ceased operations in July. Methanex cited commercially unviable operations due to tight gas supply and demand balances, while NGC disputed the reasons, focusing on price disagreements. The company's larger Atlas facility remains preserved.

Methanex (TSX: MX, Nasdaq: MEOH) announced that Natgasoline LLC, a joint venture, priced $290.95M tax-exempt bonds with a 4.75% coupon rate. Proceeds will refinance existing 2018 bonds, extending maturity to 2046. The CFO stated this refinancing strengthens the venture's financial flexibility.