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Final Investment Decision Reached on Trinidad and Tobago Methanol/Dimethyl Ether Plant

Mitsubishi Gas Chemical Company Inc.
Mitsubishi Corporation
Mitsubishi Heavy Industries Ltd.
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Mitsubishi Gas Chemical Company, Inc. (MGC), Mitsubishi Corporation (MC) and Mitsubishi Heavy Industries, Ltd. (MHI) are pleased to announce that a final investment decision for the construction of a methanol and dimethyl ether plant to be constructed in Trinidad and Tobago has been reached with the Japan Bank for International Corporation (JBIC) and the Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU). Reaching a final investment decision signals a step forward towards initiating production under the project, which is being implemented in partnership with the state-owned National Gas Company of Trinidad and Tobago Ltd. (NGC) and Trinidad and Tobago's Massy Holdings Ltd. (Massy).

Methanol is made mainly from natural gas and is used in a wide range of products, including adhesive agents, agricultural chemicals, paints, synthetic resins, and synthetic raw materials. Dimethyl ether can be used as a substitute for LPG or as a substitute for diesel in automobiles and in power generation, and has therefore been receiving a lot of attention as a source of next-generation clean energy. Methanol produced under the project will be marketed worldwide by MGC, MC and Massy. The partners will also work closely with the Government of Trinidad and Tobago to promote the use of dimethyl ether as a substitute for diesel in Trinidad and Tobago and in other Caribbean countries. Plant design and construction will be undertaken by MHI under an EPC contract with the parties.

The global demand for methanol is currently 65 million tons per year, and this demand is expected to see continued growth in keeping with growths in GDP. By using natural gas produced in Trinidad and Tobago as the main source of raw materials for producing methanol, a basic chemical, and dimethyl ether, a liquefied gas, the project will be making a contribution to economic growth in Trinidad and Tobago and the Caribbean region while at the same time helping to satisfy the growing global demand for methanol.

Reference Information

Project Outline

Company Name

Caribbean Gas Chemical Limited (Est. March 2013)

Location

La Brea, Union Estate Industrial Estate, Trinidad and Tobago

Production Item (Volume)

  

Methanol (1 million tons per year)  

Dimethyl Ether (20 thousand tons per year)

Total Investment

Amount

US$ 990 million

Capital

US$ 297 million

Investment Ratio

Mitsubishi Gas Chemical Company, Inc., 26.25%

Mitsubishi Corporation, 26.25%

Mitsubishi Heavy Industries, Ltd., 17.5%

NGC, 20.0%

Massy, 10.0%

Scheduled Mechanical Completion

December, 2018

Scheduled  Commercial Operation  Date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March, 2019