Methanex will shut down its Taranaki methanol plant in 2027 due to a dwindling gas supply.
The Canadian-owned company is New Zealand’s only methanol manufacturer, and it consumes about 40% of the country’s national gas production. It will sell its remaining gas entitlements into the energy market.
New Plymouth mayor Max Brough estimated a loss of 300 “high-paying jobs” in the region and said there were no alternatives in New Zealand for similar work.
Energy Minister Simeon Brown called the closure “devastating news” and “exactly what Labour planned for” when the party banned offshore energy exploration in 2018.
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Long time coming. They were barely functioning 7 years ago. No more gas. 60% was decommissioned already. Not allowing exploration was such an idiotic move. New Zealand will be so expensive to live in sometimes it feels like a social experiment. How long can an island of people survive if we import everything.