The National Gas Company of Trinidad and Tobago Limited (NGC) notes the recent public statements regarding Methanex’s decision to indefinitely idle its Titan plant and wishes to place in proper context the facts surrounding this decision.

NGC remains committed to supporting the long-term sustainability and competitiveness of Trinidad and Tobago’s petrochemical sector and values its longstanding relationship with Methanex. Throughout the negotiations, NGC engaged constructively and in good faith with the objective of reaching a commercially viable agreement that balanced the interests of both parties.

During the negotiations, gassupply volumes were not the issue. NGC offered Methanex the samecontracted gas volume provided under the expiring Gas Sales Contract and indicated its willingness to consider an increase in volume if required. However, Methanex advised that the principal consideration was the commercial pricing arrangement.