Natgasoline LLC is a new wholly owned greenfield world-scale methanol production complex being developed in Beaumont, Texas. The plant is expected to have a capacity of up to approximately 1.75 million metric tons per year, and is expected to start production in 2017. It will be one of the world’s largest methanol production facilities based on nameplate capacity.
The project will use state-of-the-art Lurgi MegaMethanol® technology and will incorporate best available environmental control technology.
The project has been awarded a grant of $ 2.1 million from the Texas Enterprise Fund, as well as incentive commitments from local entities, including the city of Beaumont, Jefferson County, the Beaumont Independent School District, the Port of Beaumont and the Sabine-Neches Navigation District. The United States Environmental Protection Agency (EPA) issued a final greenhouse gas (GHG) Prevention of Significant Deterioration (PSD) construction permit for Natgasoline on 29 September 2014, and construction at the site has begun.
In April of 2016, OCI and CEL (via G2X) will each be 50% equity partners in the project. On April 13, 2016, CEL and G2X entered into definitive agreements with OCI for an investment in a 50% stake in Natgasoline LLC and will invest $630 million in equity and a $50 million shareholder loan in the project through its wholly owned subsidiary G2X Energy (Beaumont) LLC, thus completing the funding requirements for the project.