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    Tag: Production

    Romgaz acquires Azomures

    Romanian state-controlled gas supplier Romgaz signed an agreement 29 May to acquire all production assets of fertilizer producer Azomures for a total consideration of approximately euro 69 million ($80.15 million), according to a report filed with the Bucharest Stock Exchange. The transaction price comprises euro 46.46 million ($53.96 million) for the plant assets, plus up to $11 million for the book value of consumables and raw materials, and $15 million to cover operating costs during the period between signing and completion. The deal is financed entirely from Romgaz's own sources. The transaction completion remains subject to approval by Romgaz's Extraordinary General Meeting of Shareholders, an unconditional clearance from Romania's Competition Council, and approval from Bucharest's Foreign Direct Investment Screening Commission (CEISD).

    Methanex to close Titan methanol plant

    Methanex says that it has been unable to agree to a new natural gas contract for its 860,000 t/a Titan methanol plant in Trinidad and Tobago, and, as a result, will begin the process of indefinitely idling the facility. Titan’s existing natural gas contract expires in the third quarter of 2026. Methanex says that it will undertake a preservation process at the Titan plant to provide options for a future restart should conditions materially improve. The neighbouring 1/7 million t/a Atlas methanol plant, a joint venture in which Methanex holds a 63.1% economic interest, remains indefinitely idled in a preserved state.