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Entergy Gulf States Louisiana To Power Methanex Corporation-Geismar Facility

Stocks in this article: MEOH

BATON ROUGE, La., Oct. 23, 2013 /PRNewswire/ -- Entergy Gulf States Louisiana, L.L.C. has signed a commercial and contractual agreement with Methanex USA LLC to supply up to 30 megawatts of power to Methanex's new methanol facility in Geismar.


In July 2012, Methanex announced plans to relocate a 1 million metric ton methanol production plant from Chile to a new 225-acre site in Geismar.  On April 24, 2013, Methanex announced plans to proceed with the relocation of a second 1 million metric ton per year methanol plant from its Chile site to Geismar. Subsequent to the public announcement, Entergy Gulf States Louisiana has been working with Methanex to provide permanent power to its new facility. 

The power contract between Entergy Gulf States Louisiana and Methanex is for an initial 10-year term and will continue thereafter on a year-to-year basis.  Entergy Gulf States Louisiana plans to upgrade its electric transmission system to meet the increased demand the methanol production facility is anticipated to generate.

"Methanex selected Entergy Gulf States Louisiana as the sole source for their power needs because of Entergy's ability to provide safe, clean, reliable and affordable power within the required timeframe," said Gustavo Parra, vice president, Global Excellence and Projects, Methanex Corporation.   

Methanex's first plant is expected to be operational by the end of 2014, and the second plant is expected to be operational by early 2016.  Methanex is investing approximately $1.1 billion dollars in the facility and will create approximately 165 new permanent jobs within the community. Additionally, construction of the two facilities will result in approximately 2,500 construction jobs.

Methanex commenced work on its first methanol plant in 2012 and started work on its second plant this year. Hiring for the first plant is underway, and jobs associated with the second plant will be filled in the year leading up to completion of the project.

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