MHTL shuts down two plants due to high gas pricing by NGC

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MHTL shuts down two plants due to high gas pricing by NGC

Proman has taken the decision to immediately shut down two of its plants.

This comes after the National Gas Company (NGC) and Methanol Holdings (Trinidad) Limited (MHTL) failed to renew a contract for the continued supply of gas, which has forced the energy giant to idle two of its plants because the proposed prices are too high.

MHTL falls under the purview of the Proman Group.
The company’s managing director Claus Cronberger in a statement to his colleagues explained that it “has been unable to secure an economically viable short term gas supply for the month of April.”

He said the company therefore made the “extremely difficult decision” to idle its M4 and M5000 plants effective immediately. The company’s M2 and M3 plants will continue running on DeNovo gas only.

“While we have reached the absolute limit of our flexibility on contract price and the terms and conditions, we are continuing to take a solutions-oriented approach and engaging with NGC and the government. My number one priority is to sustain operations and secure the livelihoods of all of our people.”