UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF
OCTOBER 2006
METHANEX CORPORATION
(Registrant’s name)
SUITE 1800, 200 BURRARD STREET, VANCOUVER, BC V6C 3M1 CANADA
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form
20-F or Form 40-F.
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82 .
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NEWS RELEASE
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Methanex Corporation
1800 – 200 Burrard St.
Vancouver, BC Canada V6C 3M1
Investor Relations: (604) 661-2600
http://www.methanex.com |
For immediate release
ARGENTINA EXPORT DUTY ON NATURAL GAS EXTENDED TO TIERRA DEL FUEGO PROVINCE
October 12, 2006
On October 11, 2006, the government of Argentina passed a resolution that extends the existing
export duty on oil, natural gas and derivatives to the province of Tierra del Fuego effective
October 20, 2006. Exports from this province had previously been exempt from this duty.
As a result of this resolution, the duty on natural gas exports, which was recently increased from
approximately $0.30 per mmbtu to $2.25 per mmbtu, will apply to all of the natural gas feedstock
that we source from Argentina, or approximately 60% of the total current gas supply to our plants
in Chile.
For all natural gas that we source from Argentina, we have contractual protection against such
export duty. However, over the past couple of months, we have been in discussions with certain of
our Argentinean gas suppliers regarding the impact of the increased export duty. We cannot provide
assurance that this export duty will not have an adverse effect on our results of operations and
financial condition.
Methanex is a Vancouver based, publicly-traded company engaged in the worldwide production and
marketing of methanol. Methanex shares are listed for trading on the Toronto Stock Exchange in
Canada under the trading symbol “MX” and on the NASDAQ Global Market in the United States under the
trading symbol “MEOH.” Methanex can be visited online at
www.methanex.com.
This news release contains forward-looking statements. Certain material factors or assumptions
were applied in drawing the conclusions or making the forecasts or projections that are included in
these forward-looking statements and Methanex believes that it has a reasonable basis for making
such forward-looking statements. However, forward-looking statements, by their nature, involve
risks and uncertainties that could cause actual results to differ materially from those
contemplated by the forward-looking statements. The risks and uncertainties include those attendant
with producing and marketing methanol and successfully carrying out major capital expenditure
projects in various jurisdictions, the ability to successfully carry out corporate initiatives and
strategies, conditions in the methanol and other industries including the supply and demand balance
for methanol, actions of competitors and suppliers, world-wide economic conditions and other risks
described in our 2005 Management’s Discussion & Analysis. Undue reliance should not be placed on
forward-looking statements. They are not a substitute for the exercise of one’s own due diligence
and judgment. The outcomes anticipated in forward-looking statements may not occur and we do not
undertake to update forward-looking statements.
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Inquiries:
Wendy Bach
Director, Investor Relations
Methanex Corporation
604-661-2600