UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF
JUNE 2007
METHANEX CORPORATION
(Registrant’s name)
SUITE 1800, 200 BURRARD STREET, VANCOUVER, BC V6C 3M1 CANADA
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form
20-F or Form 40-F.
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82 .
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on behalf by the undersigned, thereunto duly authorized.
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METHANEX CORPORATION
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| Date: June 11, 2007 |
By: |
/s/ RANDY MILNER
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Name: |
Randy Milner |
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Title: |
Senior Vice President, General Counsel
& Corporate Secretary |
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For immediate release
June 11, 2007
Methanex Provides Update on Natural Gas Supply for Chile Plants
Methanex advises that production from its Chile plants has been reduced further due to temporary
curtailments of natural gas from Argentina as a result of a labour dispute affecting one natural
gas supplier and technical testing done by another Argentinean gas supplier. Methanex has not been
receiving all its natural gas due to technical issues and Argentinean reinjection orders. In order
to optimize the utilization of natural gas Methanex had been operating three of its four plants
since May 4, 2007 but is currently operating only one plant, pending restoration of gas supplies
from Argentina. Gas supply is expected to improve over the next week and the company is planning
to return to operating three plants shortly.
Production from our Chile operation from April 1, 2007 to June 10, 2007 was 520,000 tonnes compared
to production capacity of 740,000 tonnes.
Bruce Aitken, President and CEO of Methanex, commented, “ While we are disappointed with
the level of production from our Chile operation, we are very pleased with the Chilean Government’s
initiative to open the exploration and development of natural gas in Southern Chile to the private
sector which was announced on June 8, 2007. We believe there is considerable potential to develop
natural gas supplies for our Chile production hub and are aware of several international oil and
gas companies that are interested in participating in the program. Programs like this provide us
with confidence that we will find solutions to the natural gas supply challenges we face at our
Chile operations.”
Methanex is a Vancouver based, publicly traded company engaged in the worldwide production,
distribution and marketing of methanol. Methanex shares are listed for trade on the Toronto Stock
Exchange in Canada under the trading symbol “MX”, on the NASDAQ Global Market in the United States
under the trading symbol “MEOH”, and on the foreign securities market of the Santiago Stock
Exchange in Chile under the trading symbol “Methanex”. Methanex can be visited online at
www.methanex.com.
Information in this press release contains forward-looking statements. Certain material factors or
assumptions were applied in drawing the conclusions or making the forecasts or projections that are
included in these forward-looking statements. Methanex believes that it has a reasonable basis for
making such forward-looking statements. However, forward-looking statements, by their nature,
involve risks and uncertainties that could cause actual results to differ materially from those
contemplated by the forward-looking statements. The risks and uncertainties include those attendant
with producing and marketing methanol and successfully carrying out major capital expenditure
projects in various jurisdictions, the ability to successfully carry out corporate initiatives and
strategies, conditions in the methanol and other industries including the supply and demand balance
for methanol, actions of competitors and suppliers, changes in laws or regulations in foreign
jurisdictions, world-wide economic conditions and other risks described in our 2006 Management’s
Discussion & Analysis. Undue reliance should not be placed on forward-looking statements. They are
not a substitute for the exercise of one’s own due diligence and judgment. The outcomes
anticipated in forward-looking statements may not occur and we do not undertake to update
forward-looking statements.
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Investor Inquiries:
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Media Inquiries: |
Jason Chesko
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or
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Diana Barkley |
Director, Investor Relations
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Director, Public Affairs |
Methanex Corporation
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Methanex Corporation |
604-661-2600
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604-661-2600 |
