News

Natgasoline LLC Receives EPA Permit for New Greenfield World Scale Methanol Plant

01 October 2014

OCI N.V. (NYSE Euronext: OCI) announced today that the United States Environmental Protection Agency (EPA) has issued a final greenhouse gas (GHG) Prevention of Significant Deterioration (PSD) construction permit to OCI’s wholly owned subsidiary, Natgasoline LLC, for construction of its new world-scale greenfield methanol plant in Beaumont, Texas. The permit was received on September 29, 2014 and is effective immediately.

Natgasoline has now started construction of the plant which is expected to have a production capacity of approximately 1.75 million metric tons per annum, and is scheduled to commission in late 2016. It will be the first methanol facility of this scale in the United States and will be the country’s largest methanol production facility based on nameplate capacity.

OCI N.V. Chief Executive Officer Nassef Sawiris commented: “This constitutes an important milestone in the overall progress of the project and another step forward in the realization of OCI’s natural gas monetization strategy in the United States. We are firm believers in the US economy and in the nation’s long-term natural gas advantage versus global competitors and aim to continue to invest in this market. We are also firm believers in the methanol industry and its growth prospects; methanol is a diverse building block for industrial chemicals and has huge potential as a clean direct fuel substitute for vehicles.”