G2X Energy Buys 50% Stake in New Methanol Plant in Beaumont

G2X Energy Inc., the Houston based chemical company and a subsidiary of Consolidated Energy Ltd., is proposing to buy half of the methanol plant from the Dutch company OCI N.V. It will cost G2X $680 million, including a $50 million loan, to acquire its stake in the Natgasoline methanol plant in Beaumont, expected to be the largest methanol plant in the USA. The other 50% stake will remain with the Dutch firm. The more than $1 billion methanol project was announced in 2013 by OCI and is slated for completion in late 2017. The Consolidated Energy Limited is the world’s second-largest methanol producer and is owned by the German-and-Swiss-based Proman Group and Germany’s Helm AG.

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