Methanol Joint Venture Celanese and Mitsui Plan Joint Methanol Project in Texas
Speciality materials company Celanese and Mitsui of Japan plan a joint venture for methanol production at Celanese’s integrated chemical plant in Bishop, Texas.
Dallas, Texas/USA – The potential methanol unit at Bishop is expected to have an annual capacity of 1.3 million tons and would leverage the design benefits of the Clear Lake, Texas methanol unit that is currently under construction. Celanese has filed for air permits with the Texas Commission on Environmental Quality for a potential methanol unit in Bishop, Texas and a final decision to build the unit will consider several factors, including prevailing methanol market conditions as well as construction costs.
The companies also entered into an amended five year arrangement for Celanese to purchase methanol from Mitsui, upon completion of the methanol unit at their joint venture in Clear Lake, Texas. Start-up of the unit is expected in October 2015.
“We are pleased to expand our partnership with Mitsui. Together with Mitsui, we will explore the benefits of an additional methanol unit at our Bishop, Texas facility to ensure our long-term and competitive supply of methanol,” said Mark Rohr, chairman and chief executive officer, Celanese Corporation. “The supply agreement, along with our own methanol production at Clear Lake, Texas, will ensure that we are balanced in our methanol needs in the US, but it will not completely offset our methanol-related earnings headwinds.”