EnergyReview.Net yesterday reported that Methanex NZ had little room to manoeuvre for new gas now that the Pohokura partners had contracted their first tranches of Pohokura gas, as well as Methanex losing Todd’s McKee-Mangahewa gas from next year.

Shell and NGC Holdings have also contracted a mixture of Pohokura and Kapuni gas from 2005-13.

“The latest announcement regarding gas sales do not sound the death knell for Methanex in New Zealand,” NZ managing director Harvey Weake told EnergyReview.Net today from Chile.

“Methanex has always stated that it needs economically priced gas and, due to a current shortage of gas, the current prices are extremely high. However, Methanex is involved in other gas negotiations which, due to commercial sensitivity, we cannot disclose.

“Talks are also continuing over the Maui gas contracts and we expect significant progress to be made in the near future.”

Earlier this month OMV announced it had sold its first tranche (26% share) of Pohokura gas to Contact Energy, while Shell has just said it has essentially concluded sales of its “foundation volumes” to Contact Energy, Genesis Power and Multi Gas.

Todd Energy is selling its (26% share) first Pohokura tranche to Genesis, as well as its McKee-Mangahewa gas.

Commentators say these announcements mean Methanex is now “utterly at the margin” in New Zealand.

However, Todd Energy managing director Richard Tweedie is reported as saying all gas producers are “holding back” some supplies because of uncertainties surrounding the development of new fields and seasonal fluctuations in demand.

That, coupled with the potential for more gas to be extracted from the rapidly depleting Maui field, should ensure some gas is available for Methanex next year.