Methanex Prepares Chile Listing

Canadian methanol producer Methanex is preparing to list its shares in Chile, sometime in April or May, according to local daily El Mercurio. This will be the third foreign company to seek an offshore listing on the Santiago Stock Exchange: Endesa of Spain and Aur Resources of Canada are already registered. Methanex has four plants in the south of Chile, producing around 60% – or 3.8 million tons – of the company’s output. To date it has invested $1.3 billion in its Chilean facilities. The Vancouver-based company also said it had signed a Memorandum of Understanding with oil company Geopark, which provides for the long-term supply, development and acquisition of new natural gas reserves in Chile. Methanex’s production of methanol relies on the supply of natural gas, most of which comes from Argentina and is subject to shortages.