TT on threshold of massive methanol production

THIS country will become the world’s top producer and exporter of methanol when the M-5000 Project begins production in 2005.  It is projected to have an annual production capacity of 1.89 million metric tonnes upon completion, and TT may be able to supply as much as 22 percent of  the world’s methanol demand.

This was revealed on Wednesday, during a launch of the M-5000 project at Point Lisas. Delivering the feature address, Minister of Energy and Energy Industries Eric Williams  said it was “the first major energy project the government took responsibility of,” since returning to office. He also commended the government’s vision in the early 1980’s to build a methanol plant, though it was widely ridiculed at the time. By 1993, Minister Williams said, the government through it’s work had “set the stage for rapid expansion.”  The existing five methanol plants, with two others to come, he added, places  this country ahead of world producers like Russia and Saudi Arabia. Williams also gave the assurance that at both managerial and marketing levels, locals would be taking control. This, he called “a major breakthrough and an example we urge others to follow.” Williams also promised greater emphasis on “energy intensive industries” and encouraged those in the domestic private sector to become more proactive.  
 
 He expressed gratitude to shareholders Clico Energy and Ferrostal (Germany). Chairman of Methanol Holdings (Trinidad) Limited (MHTL), Lawrence Duprey, called the project “another milestone in the thrust forward to have local participation in the energy thrust in Trinidad and Tobago.”  Duprey said professionals from this country have working experience in the sub-continent of India and also China and their expertise places them among the  world’s best. The Methanol Plant, using  purged gas streams from MHTL, is expected to produce 5,400 metric tonnes of methanol per day, around double the 2.1 million metric tonnes annual output of MHTL’s four existing plants. It is expected that just over half a billion US dollars would be spent on the project. Last year loan agreements were signed with financier German company Kredianvstalt fur Wiederaufbau (KfWO), for US $450 million. The project’s engineering, procurement  and construction would  be undertaken by Ferrostal Ag, construction sub-contracting by Proman Ag and designing of the plant by Davy Process Technologies. This group performed similar functions for the building of MHTL’s last three methanol plants.