Methanex Corporation

We continue to actively support the transition to a low-carbon economy. Here are a few examples from the past year. Earlier this year, we announced an agreement with Entropy Inc, a leader in carbon capture and storage solutions, to invest in a Preliminary Front-End Engineering and Design (Pre-FEED) study for carbon capture, utilization and sequestration deployment at our Medicine Hat, Alberta facility. We’re excited about the potential of carbon capture to help us achieve our aim to have a 10% reduction on our emissions intensity. We also celebrated the launch of the Methatug, the world’s first methanol-powered tugboat, at the Port of Antwerp-Bruges. It was part of a broader project to help reduce emissions of vessels moving through the Port and demonstrate the feasibility of methanol as a sustainable fuel for the shipping industry. We continue investing in programs that support the development of sustainability leadership. For example, this year, Caribbean Ideas Limited, in partnership with our Trinidad team and The National Gas Company of Trinidad and Tobago Limited, unveiled Sustain-U World, an initiative dedicated to fostering positive environmental change and societal impact within the Global South. Across all our sites, our teams continue to focus on plant efficiency and plant reliability to improve energy efficiency and lower GHG emissions to achieve our 10% GHG intensity reduction target by 2030.

We strive to be a safe, sustainable, secure and global methanol leader. We’re the only methanol supplier with well-established production facilities and sales in all major regions, and we continue to seek opportunities to demonstrate leadership on behalf of the industry. Here is a look back at a few highlights from the past year. This year, we started commercial production at our Geismar 3 facility, which sits adjacent to our existing G1 and G2 plants. That enables G3 to be one of our lowest-cost plants with one of the lowest CO2 emissions intensity profiles in the industry by utilizing excess hydrogen from the G1 and G2 steam reforming plants. G3 strengthens our asset portfolio given its location, access to abundant natural gas and lower cost structure – and further solidifies our position as the world’s largest methanol supplier. We also announced that we have entered into a definitive agreement to acquire OCI Global’s international methanol business, which includes two world-scale methanol facilities in Beaumont, Texas, one of which also produces ammonia, as well as a low-carbon methanol production and marketing business and a currently idled methanol facility in the Netherlands. We believe the transaction will provide significant long-term value to Methanex shareholders while aligning with our strategic objectives of industry leadership, operational excellence, and financial resiliency. We expect the transaction to close in the first half of 2025. Regarding leadership in the area of methanol as a marine fuel, our Trinidad team, along with our subsidiary Waterfront Shipping, completed the first ship-to-ship methanol bunkering demonstration in the Caribbean at the Port of Point Lisas. The demonstration further proves methanol is a safe and simple-to-handle cleaner fuel that provides a future-proof pathway to a low-carbon future. #methanol #ResponsibleCare

Did you know that methanol is an automotive fuel, too? As a cleaner burning vehicle fuel than diesel and gasoline, methanol can fuel cars and cargo trucks, helping support the transition away from high-emission energy sources for some industries, either directly as a fuel or indirectly as a fuel additive. Learn more about how methanol is essential to everyday life: https://lnkd.in/gsirEQNU

At Methanex, safety is our number one priority, and we do everything we can to ensure that the safety of our people, our communities, and the environment is always top of mind. Here are a few examples as we look back over 2024. As part of our philosophy of continuous improvement on safety, we emphasized process safety with our people this year by introducing the Process Safety Fundamentals (PSF), a set of 10 principles developed by the International Association of Oil and Gas Producers (IOGP). The principles are designed to proactively manage process safety risks, enhance operational efficiency, and promote a safer work environment. PSFs further enable each of our employees and contractors to embed Responsible Care into everything they do day in and day out, and to maintain a sense of chronic unease that prevents complacency. Our team in China was recognized by the Association of International Chemical Manufacturer’s (AICM) for their outstanding efforts in Responsible Care, which includes their commitment and contributions in community investment, as well as their product stewardship activities across the methanol value chain. The team in Egypt signed a new partnership agreement with the Ministry of Petroleum to continue embedding process safety management across the Egyptian oil, gas and petrochemical sectors. The team there has been a driving force in this work over the past number of years. In North America, we were recognized with our ninth consecutive NAR (non-accidental release) Grand Slam Award, which is presented annually to companies that are exemplary shippers of hazardous materials, meaning no leaks, splashes or unintended releases of our product during transportation. We were the only methanol producer in North America that won the award this year. Learn more about how we protect people and the environment connected to our operations: https://lnkd.in/gS_nAU7v

Methanol is an essential ingredient in everyday life today and is a pathway to a low-carbon future tomorrow. Methanol is an essential chemical building block for everyday products like paints, carpets, fabrics, building materials, and pharmaceuticals. A cleaner-burning fuel, methanol is used to power vehicles and ships that transport people and goods around the world. #MethanolInOurLives #methanol

It takes a curious mind to help drive continuous improvement – to look at our equipment and processes, seeking to understand them inside out, and to ask questions that lead us to discovery. Gina Gosine leads our Process Team in Trinidad. She, along with her team, direct their curiosity at helping solve problems and exploring opportunities that can help drive production rates or improve safety. We talked to her about her career at Methanex, the opportunities her career path has afforded her, and the vision that led to the creation of the first Ascend women's Employee Resource Group. Meet Gina! https://lnkd.in/gHnnckRG

Congratulations to our Vancouver team for reaching a 30-year milestone in their ongoing campaign with the United Way!

Congratulations to the Methanex Trinidad team, which recently received the ‘Excellence in Health, Safety and Environmental Management (HSE) Award’ at the 14th Annual American Chamber of Commerce of Trinidad and Tobago’s National Excellence in HSE Awards. The Awards recognize organizations in Trinidad and Tobago who have demonstrated excellence and commitment to HSE standards within their business operations. The team was recognized for their work in embedding the Responsible Care Ethic and Principles elements through policies, processes and systems. Those processes and systems were credited as benchmarks of excellence within the local industry, ensuring a safe work environment compliant with industry and regulatory standards. The award is a testament to the collective dedication and hard work of all our employees and contractors who keep the safety of people at the core of everything they do.

As we prepare to observe Remembrance Day, we honour and remember all those who have served their country past and present. #LestWeForget

Q3 2024 results highlights include Adjusted EBITDA of $216 million, G3 operating at full 1.8 MMT per annum rates since early October, and the extension of two gas contracts in Chile. Find the press release and earnings call playback here: https://lnkd.in/g9GCJswR