Methanex enters settlement
Published by Francesca Brindle,
Editorial Assistant
Hydrocarbon Engineering,
Methanex Corporation (the company), via its wholly owned subsidiary Methanex Chile S.A., has reached an agreement with Petrobras Argentina S.A. to settle a legal dispute in relation to Petrobras's natural gas delivery obligations pursuant to a long term natural gas supply agreement between the two companies.
Petrobras will make a lump sum payment of US$32.5 million to Methanex in order to terminate both the natural gas supply agreement and any and all claims in relation to such agreement.
John Floren, President and CEO of Methanex, said, "We are pleased to have reached an agreement with Petrobras, and we believe that the settlement represents fair value for Methanex shareholders."
Adapted from press release by Francesca Brindle
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/17062016/methanex-enters-settlement-agreement-with-petrobras-3539/
You might also like
The Hydrocarbon Engineering Podcast - Insights into the UN Global Plastics Treaty negotiations
In this episode of the Hydrocarbon Engineering Podcast, Rob Benedict, Vice President, Petrochemicals and Midstream, American Fuel & Petrochemical Manufacturers (AFPM), discusses the outcomes of the final round of UN negotiations for a Global Plastics Treaty.
Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.
