Methanex Corporation says it will begin the process of indefinitely idling its Titan methanol plant in Trinidad and Tobago after failing to secure a new natural gas supply agreement.

The company said Titan, which has an annual production capacity of 860,000 tonnes, will be placed into a preservation state after its current natural gas contract expires in the third quarter of 2026.

The move means the facility could potentially restart in the future if market and supply conditions improve.

Methanex’s Atlas methanol plant, a joint venture in which the company holds a 63.1 per cent economic interest, remains indefinitely idled.

President and CEO of Methanex Corporation Rich Sumner said the decision was a difficult one, noting the company’s long relationship with Trinidad and Tobago and the challenges created by the country’s current natural gas supply situation.

“We have a long history in Trinidad and Tobago with an outstanding organization that has played an important role in our Company’s history,” Sumner said.

He said the decision reflects the company’s need to protect its long-term business interests as limited gas availability has made operations at the plant commercially difficult.

Methanex said it held discussions with the Government of Trinidad and Tobago and the National Gas Company of Trinidad and Tobago ahead of the decision and acknowledged their efforts to address the country’s gas supply challenges.

The company said Titan is not currently contributing to its earnings and does not expect the shutdown process to result in significant cash costs.

Any updates to production or financial guidance are expected during Methanex’s second-quarter financial results announcement on July 28, 2026.

Methanex, headquartered in Vancouver, Canada, is the world’s largest producer and supplier of methanol.