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Methanex is commencing operations at a 1 million-metric-ton-per-year methanol plant in Geismar, La. Eager to cash in on cheap natural gas from shale, the company relocated the unit from its complex in Punta Arenas, Chile, where natural gas availability has been haphazard. The company is moving the second plant from Chile and plans to open it in 2016. Methanex estimates the cost of relocating the two units at $1.4 billion, an increase from original estimates of $1.1 billion.
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