GlobalData: Russia, Iran and the US to lead globally in terms of methanol capacity additions by 2030

GlobalData’s report, ‘Global Methanol Capacity and Capital Expenditure Outlook to 2030’, reveals that Russia accounts for the highest capacity additions with 40.35 million tpy by 2030. Major capacity additions will be from the Sherwood Energy Maysky Methanol Plant with a capacity of 7.20 million tpy by 2030.

GlobalData identifies Iran as the second highest country in terms of capacity additions, with capacity of 29.39 million tpy by 2030. Major capacity additions will be from the Mahan Chemical Zagros Petrochemical Eslamabad-e-Gharb Methanol Plant, with a capacity of 1.85 million tpy by 2030.

The US will be the third highest country in terms of capacity additions, with capacity of 23.74 million tpy by 2030. Major capacity additions will be from the NW Innovation Works Kalama Methanol Plant and NW Innovation Works St. Helens Methanol Plant, each with the capacity of 3.60 million tpy by 2030.

Sherwood Energy Ltd, IGP Methanol LLC and NW Innovation Works Inc will be the top three companies globally in terms of planned and announced capacity additions during the outlook period.

Dayanand Kharade, Oil and Gas Analyst at GlobalData, said: “The abundant availability of low-cost feedstock in Russia and Iran and the shale gas advantage in the US are the primary reason for the rush in methanol capacity additions in these countries.”

Read the article online at: https://www.hydrocarbonengineering.com/special-reports/24122020/globaldata-russia-iran-and-the-us-to-lead-globally-in-terms-of-methanol-capacity-additions-by-2030/