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MOL AND METHANEX FIRM UP PARTNERSHIP AGREEMENT

MOL AND METHANEX FIRM UP PARTNERSHIP AGREEMENT

Friday, October 29, 2021 

Following an initial announcement earlier in the year, Methanex Corporation of Canada and Japan's Mitsui OSK Lines (MOL) have concluded definitive agreements for Methanex and MOL to establish a strategic partnership involving Methanexs Waterfront Shipping (WFS) subsidiary.

Under the agreement, MOL will acquire a 40% percent minority interest for US$145m. The closing is subject to all customary conditions being met, including regulatory approval.

Methanol is considered a safe, proven, cost-competitive marine fuel for the commercial shipping industry that can meet current and future emissions regulations. Through this transaction, Methanex as a leading methanol producer, WFS as a leading methanol shipper, and MOL as the provider of multimodal shipping services will strengthen a relationship established over 30 years and advance the commercialisation of methanol, including renewable methanol, made from sources such as municipal waste, biomass and recycled CO2, as a viable marine fuel. Methanol is most commonly produced on a commercial scale from natural gas and coal.

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