Despite Methanex Corporation’s announcement that it will idle its Trinidad and Tobago Titan plant, Minister of Energy and Energy Industries Dr Roodal Moonilal has expressed optimism that the global company will return sooner rather than later, with gas supplies expected to improve.

Speaking to journalists following his feature address at the Grant Memorial Presbyterian Primary School’s graduation celebrations on Tuesday, Minister Moonilal said the government acknowledged the company’s decision to mothball its local methanol plant as part of its global business model.

“The government of Trinidad and Tobago has taken note of the decision of Methanex to idle their Titan operations in Trinidad and Tobago. From the release, it is very clear that Methanex is a global operator, and they have been for some time now looking at their international portfolio. As you know, they do business throughout the world, in every corner of the earth they are in operations, and this decision they have taken is pursuant to their global business model.”