Methanex Corporation announced that it expects its Titan methanol facility ('Titan') in Trinidad (875,000 annual operating capacity) will remain idled indefinitely. As a result, the Company has made the decision to restructure its Trinidad operations to support a one-plant operation and reduce its Trinidad workforce by approximately 60 positions filled by employees and long-term contractors. To date, the company has not been successful reaching an agreement for an economic longer-term natural gas agreement and given that the economic recovery path remains uncertain the company believes it is prudent to reduce costs while continuing efforts to secure longer-term gas supply. The Atlas methanol facility (Methanex interest 63.1%) is not affected by the change and continues to operate as it is underpinned by a separate natural gas supply agreement that expires in 2024.