Methanex Egypt sold 500,000 tons of methanol to the Egyptian market since it has started operating in the country, Egypt Oil & Gas reports.

This was announced as Minister of Petroleum, Tarek El Moll, met with Methanex Egypt CEO and Managing Director, Mohamed Shindy; Methanex Corporation’s Senior Vice President for Corporate Resources, Brad Boyd; and Egyptian Petrochemicals Holding Company (ECHEM)’s Chairman, Saad Helal.

The meeting discussed ways of increasing methane production and the company’s production capacity as methane is an integral product in different industries like plastic and formaldehyde.

Methanex is the only factory in Egypt with a production capacity of 1.3 million tons per year of methanol, Shindy stated, adding that Egypt’s growing natural gas production eases the obstacles facing methanol production, which allows for achieving excellent results in methane production.