Methanol Manufacturing Business in Texas Commences Production

Source: www.gulfoilandgas.com 10/16/2015, Location: North America

Mitsui & Co., Ltd. (Mitsui) is pleased to announce that Fairway Methanol LLC, a 50-50 joint venture between Mitsui and major U.S. chemicals company Celanese Corporation (Celanese), commenced production of methanol with an annual production capacity of 1.3 million tons, which is the quantity originally planned.

In addition to access to reliable supplies of price competitive feedstock gas thanks to the shale revolution, the superiority of the manufacturing business in the market is ensured by the use of existing infrastructure belonging to Celanese situated in Pasadena, Texas. Mitsui and Celanese will each take a portion of the methanol produced. Mitsui will sell the methanol mainly in the United States. Methanol is used to meet a wide range of demands, including those for housing materials, high-performance plastics for motor vehicles and electronics, and medical applications. Demand for this basic industrial material is expected to remain steady. By ensuring the stable supply of methanol, Mitsui will contribute to growth across a wide spectrum of industries.

Mitsui utilizes its shale gas business in the United States as the starting point for expanding the scope of its downstream activities in the gas value chain, including chemicals and infrastructure. In combination with the upstream gas production business, we can build a strong and stable business portfolio less susceptible to the impact of gas price fluctuations.


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