Skip to main content

Methanex enters settlement

Published by , 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 - Education and training for every phase of the insulating system design process

In this episode of the Hydrocarbon Engineering Podcast, Brandon Stambaugh, Owens Corning Director for Technical Services, joins us to discuss engineers’ demand for education and training to support the critical phases that affect the performance and longevity of insulating systems.

Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.

Apple Podcasts  Spotify Podcasts  YouTube

 
 

Embed article link: (copy the HTML code below):