Natgasoline, a subsidiary of Netherlands-based OCI N.V., is planning to construct a $1 billion methanol plant in Beaumont, Texas, that would be the largest such plant in the U.S. The U.S. currently imports methanol from other countries and "has about a 5 million-ton deficit, so this project will substitute imports," said OCI CEO Nassef Sawiris. The abundance of natural gas in the U.S. has inspired many planned investments in new plants, now amounting to more than $72 billion, said the American Chemistry Council.

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