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<SEC-DOCUMENT>0000891020-04-000159.txt : 20040209
<SEC-HEADER>0000891020-04-000159.hdr.sgml : 20040209
<ACCEPTANCE-DATETIME>20040209163237
ACCESSION NUMBER:		0000891020-04-000159
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20040209
EFFECTIVENESS DATE:		20040209

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			METHANEX CORP
		CENTRAL INDEX KEY:			0000886977
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-112624
		FILM NUMBER:		04578381

	BUSINESS ADDRESS:	
		STREET 1:		1800 WATERFRONT CENTER
		STREET 2:		200 BURRARD STREET
		CITY:			VANCOUVER BC CANADA
		STATE:			A1
		ZIP:			00000
		BUSINESS PHONE:		6046847500

	MAIL ADDRESS:	
		STREET 1:		1800 WATERFRONT CENTER
		STREET 2:		200 BURRARD STREET
		CITY:			VANCOUVER BC CANADA
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>v96282orsv8.htm
<DESCRIPTION>FORM S-8
<TEXT>
<HTML>
<HEAD>
<TITLE>sv8</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<P align="center"><FONT size="2"><B>As filed with the Securities and
Exchange Commission on February&nbsp;9, 2004</B>
</FONT>


<P align="right"><FONT size="2"><B>Registration No.&nbsp;333-______</B>
</FONT>


<HR size="4" noshade color="#000000" style="margin-top: -5px">
<HR size="1" noshade color="#000000" style="margin-top: -10px">




<P align="center"><FONT size="4"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT>

<DIV align="center"><FONT size="3"><B>Washington, D.C. 20549</B>
</FONT></DIV>


<P align="center"><HR align="center" size="1" noshade width="25%">


<P align="center"><FONT size="2"><B>FORM S-8<BR>
REGISTRATION STATEMENT<BR>
Under<BR>
The Securities Act of 1933</B>
</FONT>


<P align="center"><HR align="center" size="1" noshade width="25%">

<P align="center"><FONT size="6"><B>METHANEX CORPORATION</B></FONT>

<DIV align="center"><FONT size="2">(Exact name of registrant as specified in its charter)
</FONT>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="55%">
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">British Columbia, Canada</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
N/A</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">(State or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
(I.R.S. Employer<BR>
Identification No.)</FONT></TD>
</TR>
</TABLE>
</DIV>


<P align="center"><FONT size="2">1800 Waterfront Centre, 200 Burrard Street, Vancouver, British Columbia, Canada V6C 3M1<BR>
(604)&nbsp;661-2600<BR>
(Address of principal executive offices, including zip code)
</FONT>


<P align="center"><FONT size="2">Methanex Corporation Stock Option Plan 2002<BR>
(Full title of plan)
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="75%">
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">CT Corporate System</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
Copies to:</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">111 8th Avenue, 13th Floor</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
Gary J. Kocher</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">New York, NY 10011 98101</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
Preston Gates &#038; Ellis LLP</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">(212) 894-8700</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
925 Fourth Avenue, Suite&nbsp;2900</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">(Name, address and telephone number, including area<BR>
code, of agent for service)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
Seattle, Washington 98104<br>
(206)&nbsp;623-7580</FONT></TD>
</TR>
</TABLE>
</DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="75%">
<TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>Title of securities</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount to be</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Maximum offering</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>aggregate offering</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>to be registered</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>registered (1)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>price per unit (2)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>price (2)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>registration fee</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><FONT size="2">Common Shares</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">2,000,000 shares</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">11.02</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">22,040,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">2,792.47</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>


<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
    <TD width="4%" nowrap align="right"><FONT size="2">(1)</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">If, as a result of stock splits, stock dividends or similar transactions,
the number of securities purported to be registered on this registration
statement changes, the provisions of Rule&nbsp;416 shall apply to this
registration statement.
</FONT></TD>
</TR>
</TABLE>

<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
    <TD width="4%" nowrap align="right"><FONT size="2">(2)</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Estimated solely for the purpose of calculating the registration fee
pursuant to Rule 457(c) of the Securities Act of 1933, as amended, based
upon the average high and low prices of the Common Shares of the
Registrant on the Nasdaq National Market on February&nbsp;4, 2004.
</FONT></TD>
</TR>
</TABLE>


<P align="center"><FONT size="2">&nbsp;
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">PART II<BR> INFORMATION REQUIRED IN THE<BR> REGISTRATION STATEMENT</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;3. Incorporation of Certain Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;4. Description of Securities</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;5. Interests of Named Experts and Counsel</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">INDEX TO EXHIBITS TO REGISTRATION STATEMENT ON FORM S-8</A></TD></TR>
<TR><TD colspan="9"><A HREF="v96282orexv4.txt">EXHIBIT 4</A></TD></TR>
<TR><TD colspan="9"><A HREF="v96282orexv5.txt">EXHIBIT 5</A></TD></TR>
<TR><TD colspan="9"><A HREF="v96282orexv23w2.txt">EXHIBIT 23.2</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>



<!-- link1 "PART II<BR> INFORMATION REQUIRED IN THE<BR> REGISTRATION STATEMENT" -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="center"><FONT size="2"><B>PART II<BR>
INFORMATION REQUIRED IN THE<BR>
REGISTRATION STATEMENT</B>
</FONT>

<!-- link2 "Item&nbsp;3. Incorporation of Certain Documents by Reference" -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="left"><FONT size="2"><B>Item&nbsp;3. Incorporation of Certain Documents by Reference</B>
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents heretofore filed with the Securities and Exchange
Commission (the &#147;Commission&#148;) by Methanex Corporation (the &#147;Company&#148;) are
incorporated herein by reference:
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Company&#146;s Annual Report on Form 40-F for the fiscal year ended
December&nbsp;31, 2002 (the &#147;Annual Report&#148;) filed with the Commission on March&nbsp;28,
2003 under Section 13(a) of the Securities and Exchange Act of 1934, as amended
(the &#147;Exchange Act&#148;);
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;All other reports filed pursuant to Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), since the end
of the fiscal year covered by the Annual Report; and
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The description of the Company&#146;s capital stock contained in the
Company&#146;s Registration Statement on Form F-10, (Reg.
No.&nbsp;33-53400), including any amendment or report filed for
the purpose of updating such description.
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Company pursuant to Sections&nbsp;13(a), 13(c), 14
or 15(d) of the Exchange Act after the date of this Registration Statement and
prior to the filing of a post-effective amendment which indicates that all
securities offered hereby have been sold or which deregisters all securities
then remaining unsold are incorporated by reference into this Registration
Statement and will be deemed to be a part hereof from the respective dates of
filing of such documents (such documents, and the documents enumerated above,
being hereinafter referred to as &#147;Incorporated Documents&#148;).
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained in an Incorporated Document shall be deemed to be
modified or superseded for purposes of this Registration Statement to the
extent that a statement contained herein or in any other subsequently filed
Incorporated Document modifies or supersedes such statement. Any such
statement so modified or superseded shall not be deemed, except as so modified
or superseded, to constitute a part of this Registration Statement.
</FONT>

<!-- link2 "Item&nbsp;4. Description of Securities" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="left"><FONT size="2"><B>Item&nbsp;4. Description of Securities</B>
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>

<!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="left"><FONT size="2"><B>Item&nbsp;5. Interests of Named Experts and Counsel</B>
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>



<P align="center"><FONT size="2">&nbsp;
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers" -->
<DIV align="left"><A NAME="004"></A></DIV>

<P align="left"><FONT size="2"><B>Item&nbsp;6. Indemnification of Directors and Officers</B>
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the <I>Canada Business Corporations Act </I>(the &#147;CBCA&#148;), which governs
Methanex Corporation (the &#147;Registrant&#148;), except in respect of an action by or
on behalf of a corporation or other entity to procure a judgment in its favor,
a corporation may indemnify a present or former director or officer of such
corporation or a person who acts or acted at the corporation&#146;s request as a
director or officer or an individual acting in a similar capacity, of another
entity, against all costs, charges and expenses, including an amount paid to
settle an action or satisfy a judgment, reasonably incurred by such individual
in respect of any civil, criminal, administrative, investigative or other
proceeding in which he or she is involved because of that association with the
corporation or other entity and provided that such individual acted honestly
and in good faith with a view to the best interests of the corporation or, as
the case may be, to the best interests of the other entity for which the
individual acted as director or officer or in a similar capacity at the
corporation&#146;s request, and, in the case of a criminal or administrative action
or proceeding that is enforced by a monetary penalty, had reasonable grounds
for believing that his conduct was lawful. Such indemnification may be made in
connection with a derivative action only with court approval. A director or
officer (or other individual as described above) is entitled to indemnification
from the corporation as a matter of right in respect of all costs, charges and
expenses reasonably incurred by such individual in connection with the defense
of a civil, criminal, administrative, investigative or other proceeding to
which he or she is made a party because of their association with the
corporation or other entity if such individual was not judged by the court or
other competent authority to have committed any fault or omitted to do anything
that the individual ought to have done and has fulfilled the conditions set
forth above.
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with and subject to the CBCA, the by-laws of the Registrant
provide that except in respect of any action by or on behalf of the Registrant
to procure a judgment in its favor, the Registrant may indemnify a director or
officer of the Registrant, a former director or officer of the Registrant, or a
person who acts or acted at the Registrant&#146;s request as a director or officer
of a body corporate, or an individual acting in a similar capacity, or another
entity against all costs, charges and expenses, including an amount paid to
settle an action or satisfy a judgment, reasonably incurred by him in respect
of any civil, criminal or administrative action or proceeding to which he is
made a party by reason of his being or having been a director or officer of the
Registrant or such body corporate, if the director or officer (a)&nbsp;acted
honestly and in good faith with a view of the best interests of the Registrant,
and (b)&nbsp;in the case of a criminal or administrative action or proceeding that
is enforced by a monetary penalty, had reasonable grounds for believing that
his or her conduct was lawful. The Registrant has also entered into indemnity
agreements with its directors and officers which provide substantially the same
rights as provided for in the CBCA.
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant maintains directors&#146; and officers&#146; liability insurance
which insures the directors and officers of the Registrant and its subsidiaries
against certain losses resulting from any wrongful act committed in their
official capacities for which they become obligated to pay to the extent
permitted by applicable law.
</FONT>



<P align="center"><FONT size="2">&nbsp;
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities
Act of 1933 as amended (the &#147;Act&#148;) may be permitted to directors, officers or
persons controlling the Registrant pursuant to the foregoing provisions, the
Registrant has been informed that in the opinion of the U.S. Securities and
Exchange Commission (the &#147;Commission&#148;) such indemnification is against public
policy as expressed in the Act, and is therefore unenforceable.
</FONT>

<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed" -->
<DIV align="left"><A NAME="005"></A></DIV>

<P align="left"><FONT size="2"><B>Item&nbsp;7. Exemption from Registration Claimed</B>
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>

<!-- link2 "Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="006"></A></DIV>

<P align="left"><FONT size="2"><B>Item&nbsp;8. Exhibits</B>
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>Exhibit</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Methanex Corporation Stock Option Plan 2002</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Opinion of McCarthy T&#233;trault LLP</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">23.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Consent of McCarthy T&#233;trault LLP (see Exhibit&nbsp;5)</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">23.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Consent of KPMG, Independent Auditors</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">24</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Power of Attorney (See signature page)</FONT></TD>
</TR>
</TABLE>
</DIV>

<!-- link2 "Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="007"></A></DIV>

<P align="left"><FONT size="2"><B>Item&nbsp;9. Undertakings</B>
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned registrant hereby undertakes:
</FONT>


<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement: (i)&nbsp;to include any
prospectus required by section 10(a)(3) of the Securities Act of 1933; (ii)&nbsp;to
reflect in the prospectus any facts or events arising after the effective date
of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the registration statement; and (iii)&nbsp;to
include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to
such information in the registration statement; provided, however, that
paragraphs (1)(i) and (1)(ii) above do not apply if the information required to
be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed by the Registrant pursuant to Section&nbsp;13 or Section
15(d) of the Exchange Act that are incorporated by reference in the
registration statement.
</FONT>


<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for purpose of determining any liability under the Securities
Act of 1933, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
</FONT>


<P align="left" style="margin-left:0%; margin-right:0%"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.
</FONT>



<P align="center"><FONT size="2">&nbsp;
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant&#146;s annual report pursuant to section 13(a) or section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan&#146;s annual report pursuant to section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the registrant pursuant to the foregoing provisions, or otherwise,
the registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.
</FONT>



<P align="center"><FONT size="2">&nbsp;
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="008"></A></DIV>

<P align="center"><FONT size="2"><B>SIGNATURES</B>
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly authorized and has duly caused
this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized in the City of Vancouver, Province of British
Columbia, Canada, on this 6th day of February, 2004.
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="50%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="42%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="5" valign="top" align="left"><FONT size="2">METHANEX CORPORATION</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">By</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" valign="top" align="left"><FONT size="2">/s/ Ian Cameron
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Name:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Ian Cameron</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Title:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Senior Vice President,
Finance and Chief Financial
Officer</FONT></TD>
</TR>
</TABLE>
</DIV>


<P align="center"><FONT size="2"><B>POWER OF ATTORNEY</B>
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each persons whose individual signature appears below hereby authorizes
Pierre Choquette and Ian Cameron, and each of them, either of whom may act
without the joinder of the other, the true and lawful attorney-in-fact and
agent of the undersigned, with full power of substitution and resubstitution,
to execute in the name, place and stead of the undersigned, in any and all such
capacities, any and all amendments to this Registration Statement, including
post-effective amendments and supplements thereto, and all instruments
necessary or in connection therewith, and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the Securities and
Exchange Commission, and hereby grants to each such attorney-in-fact and agent,
full power and authority to do and perform in the name and on behalf of the
undersigned each and every act and thing whatsoever necessary or advisable to
be done, as fully and to all intents and purposes as the undersigned might or
could do in person, hereby ratifying and confirming all that said
attorney-in-fact and agent, or his substitute or substitutes, may lawfully do
or cause to be done by virtue hereof.
</FONT>


<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities indicated on this 6th day of February, 2004.
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="33%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="62%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>Signature</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Title</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Pierre Choquette
<HR size="1" noshade>
Pierre Choquette</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Chief Executive Officer and Director (Principal
Executive Officer)</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Ian Cameron
<HR size="1" noshade>
Ian Cameron</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Senior Vice President, Finance, Chief Financial<BR>
Officer (Principal Financial Officer)</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Robert Findlay
<HR size="1" noshade>
Robert Findlay</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Brian D. Gregson
<HR size="1" noshade>
Brian D. Gregson</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
</TABLE>
</DIV>



<P align="center"><FONT size="2">&nbsp;
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="33%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="62%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>Signature</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Title</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ R.J. (Jack) Lawrence
<HR size="1" noshade>
R.J. (Jack) Lawrence</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ David Morton
<HR size="1" noshade>
David Morton</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ A. Terence Poole
<HR size="1" noshade>
A. Terence Poole</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ John Reid
<HR size="1" noshade>
John Reid</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Monica Sloan
<HR size="1" noshade>
Monica Sloan</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Graham D. Sweeney
<HR size="1" noshade>
Graham D. Sweeney</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Anne. L. Wexler
<HR size="1" noshade>
Anne. L. Wexler</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
</TABLE>
</DIV>



<P align="center"><FONT size="2">&nbsp;
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "INDEX TO EXHIBITS TO REGISTRATION STATEMENT ON FORM S-8" -->
<DIV align="left"><A NAME="009"></A></DIV>

<P align="center"><FONT size="2"><B>INDEX TO EXHIBITS TO REGISTRATION STATEMENT ON FORM S-8</B>
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>Exhibit</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Methanex Corporation Stock Option Plan 2002</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Opinion of McCarthy T&#233;trault LLP</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">23.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Consent of McCarthy T&#233;trault LLP (see Exhibit&nbsp;5)</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">23.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Consent of KPMG, Independent Auditors</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">24</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
&#151;
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Power of Attorney (See Signature Page)</FONT></TD>
</TR>
</TABLE>
</DIV>




<P align="center"><FONT size="2">&nbsp;
</FONT>


</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4
<SEQUENCE>3
<FILENAME>v96282orexv4.txt
<DESCRIPTION>EXHIBIT 4
<TEXT>
<PAGE>

                                                                       EXHIBIT 4

                              METHANEX CORPORATION

                             STOCK OPTION PLAN 2002

A.       THE PLAN

         The Stock Option Plan 2002 ("Plan") is the amended and restated stock
option plan of Methanex Corporation ("Corporation"), reflecting amendments to
and including March 1, 2002, of the prior Incentive Stock Option Plan. The Plan
for key employees and directors of the Corporation and its wholly owned
subsidiaries to purchase unissued common shares ("Shares") of the Corporation is
hereby established on the terms and conditions hereinafter set out.

B.       PURPOSE

         The purpose of the Plan is to develop the interest of key employees and
directors of the Corporation in growth and development by providing them with
the opportunity through options on Shares to acquire an increased financial
interest in the Corporation.

C.       GRANT OF OPTIONS

         The Board of Directors of the Corporation may from time to time in its
discretion grant to officers, directors and other employees of the Corporation
and its subsidiaries, who in each case must be full-time employees or directors
of the Corporation or a subsidiary and who, in the opinion of the Board of
Directors, are key employees or directors, an option to acquire all or any part
of an allotment of Shares of the Corporation upon and subject to such terms,
conditions and limitations as are herein contained and otherwise as the Board of
Directors may from time to time determine with respect to each option.

         The maximum number of Shares that may be issued from and after May 24,
2000 pursuant to options granted pursuant to this Plan is 17,000,000. The
maximum number of Shares which may be reserved for issuance to, or covered by
any option granted to, any person shall not exceed the lower of 5% of the
outstanding issue or the maximum number permitted by the applicable securities
laws and regulations of Canada or of the United States or any political
subdivision of either, and the by-laws, rules and regulations of any stock
exchange or other trading facility upon which the Shares are listed or traded,
as the case may be.

D.       EXERCISE PRICE

         The price of the Shares, upon exercise of each option granted under the
Plan, shall be a price fixed for such option by the Board of Directors, but such
price shall be not less than the fair market value of the Shares on the date the
option is granted. The fair market value for this purpose shall be deemed to be
the US Dollar equivalent of the closing price at which board lots of the
Corporation's Shares were traded on the Toronto Stock Exchange on the day
preceding
<PAGE>
the date on which the option is granted or if no board lots are traded on such
day then the US Dollar equivalent of the closing price at which board lots were
traded on the most recent day upon which at least one board lot was traded on
such Exchange. The "US Dollar equivalent of the closing price" shall be
determined using the US Dollar/Canadian Dollar Daily Noon Rate as published by
the Bank of Canada on the same day that the closing price is established.

E.       TERM

         The Shares identified in the option may be purchased at such time or
times after the option is granted as may be determined by the Board of
Directors.

         Each option, unless sooner terminated in accordance with the terms,
conditions and limitations of the option, shall expire on a date ("Expiry Date")
not later than ten years from the day the option was granted, which date shall
be fixed by the Board of Directors, except that, subject to the right of the
Board of Directors, in its discretion, to determine that a particular option may
be exercisable during different periods, in respect of a different amount or
portion of shares or in a different manner:

    (a) in the case of the death of an optionee prior to the Expiry Date, the
        option will be exercisable by the legal representative of such optionee,
        or by the person or persons to whom the optionee's rights under the
        option pass by will or the laws of devolution or distribution and
        descent, prior to the earlier of (i) the date which is one year from the
        date of death of such optionee (or such shorter or longer period as may
        be determined by the Board of Directors at the time of grant of the
        option), and (ii) the Expiry Date;

    (b) if the optionee ceases, for any reason other than death, to be a
        director, officer or employee of the Corporation or a director, officer
        or employee of a subsidiary of the Corporation prior to the Expiry Date,
        the option will be exercisable by the optionee prior to the earlier of
        (i) the date which is one year from the date such optionee so ceases to
        be a director, officer or employee of the Corporation or a director,
        officer or employee of any subsidiary of the Corporation, or such
        shorter or longer period as the Board of Directors may, in its
        discretion, determine and (ii) the Expiry Date.

         The retirement of any optionee who is a director of the Corporation or
any subsidiary at any general meeting of the Corporation or such subsidiary as
required by the constating documents of the Corporation or the subsidiary, as
the case may be, will not result in the termination of the option granted to
such optionee provided that such optionee is re-elected at such meeting as a
director of the Corporation or of such subsidiary, as the case may be.

         A change in the duties or position of an optionee or the transfer of
such optionee from a position with the Corporation to a position with a
subsidiary of the Corporation, or vice versa, will not trigger the termination
of such optionee's option, provided such optionee remains
<PAGE>
a director, officer or employee of the Corporation or a director, officer or
employee of any subsidiary of the Corporation.

         Shares subject to an option which is not exercised or which is
cancelled shall become available for subsequent options under the Plan.

F.       ISSUE OF SHARES

         No person shall have any of the rights of a shareholder in respect of
any Shares under an option until such shares have been paid for in full and
issued to such person.

G.       TRANSFERABILITY

         No option shall be transferable or assignable otherwise than by will or
the laws of succession and distribution.

H.       ALTERATION OF NUMBER OF SHARES SUBJECT TO THE PLAN

         The number of Shares subject to the Plan shall be increased or
decreased proportionately in the event of the subdivision or consolidation of
such Shares of the Corporation, and in any such event a corresponding adjustment
shall be made changing the number of shares deliverable upon the exercise of any
option theretofore granted without change in the total price applicable to the
unexercised portion of the option, but with a corresponding adjustment in the
price for each share covered by the option. In the event that the Corporation is
reorganized or merged or consolidated or amalgamated with another corporation,
appropriate provisions shall be made for the continuance of the options
outstanding under the Plan and to prevent their dilution or enlargement.

I.       ADMINISTRATION

         Within the limitations set forth in the Plan, the Board of Directors,
or any Committee of the Board to which such authority shall be delegated by the
Board, is authorized to provide for the grant and exercise of options on such
terms (which may vary as between options) as it shall determine. All decisions
and interpretations made by the Board of Directors, or any such committee, shall
be binding and conclusive on the Corporation and all employees eligible to
participate in the Plan.

J.       AMENDMENT AND TERMINATION

         The Board of Directors may at any time terminate the Plan with respect
to any Shares not at the time subject to option, and the Board of Directors may
at any time amend any of the provisions of the Plan subject to obtaining any
required approval of the appropriate stock exchange or other regulatory
authority but any such amendment may not, without the consent of the optionee,
adversely affect or impair any option previously granted to an optionee under
the Plan.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5
<SEQUENCE>4
<FILENAME>v96282orexv5.txt
<DESCRIPTION>EXHIBIT 5
<TEXT>
<PAGE>
                                    EXHIBIT 5
                        OPINION OF MCCARTHY TETRAULT LLP

                                                                February 6, 2004

Securities and Exchange Commission
450 Fifth Street NW
Washington, DC 20549

Dear Sirs:

         Re:  Registration Statement on Form S-8 of Methanex Corporation

         We have acted as Canadian counsel to Methanex Corporation (the
"Company") in connection with the filing of the above-referenced Registration
Statement relating to the registration of common shares of the Company (the
"Shares") issuable upon the exercise of options granted or to be granted under
the Methanex Corporation Stock Option Plan 2002 (the "Plan"). In connection
therewith, we have considered such questions of law and have examined and relied
upon such resolutions, records, certificates of public officials and officers of
the Company and other documents deemed necessary or appropriate to enable us to
render the opinion expressed below.

         Based on the foregoing, it is our opinion that the Shares will, upon
the exercise of such options in accordance with the terms of the Plan, and the
receipt by the Company of the exercise price under such options for such Shares,
be validly issued and outstanding as fully paid and non-assessable shares.

         We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to all references to our firm included in or made a
part of the Registration Statement.

                                       Yours Truly,


                                       /s/ McCARTHY TETRAULT LLP

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>5
<FILENAME>v96282orexv23w2.txt
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
<PAGE>
                                  EXHIBIT 23.2
                       CONSENT OF INDEPENDENT ACCOUNTANTS

The Board of Directors of
Methanex Corporation

We consent to the use of our reports dated March 7, 2003 which are incorporated
herein by reference.



/s/ KPMG LLP

Chartered Accountants

Vancouver, Canada
February 6, 2004


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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