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<SEC-DOCUMENT>0001362310-09-007175.txt : 20090706
<SEC-HEADER>0001362310-09-007175.hdr.sgml : 20090703
<ACCEPTANCE-DATETIME>20090512155752
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001362310-09-007175
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20090512

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:		CORRESP

	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>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>Correspondence</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">
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<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="20%">&nbsp;</TD>
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</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Methanex</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">1800 Waterfront Centre
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Telephone: 604 661 2600</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Corporation</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">200 Burrard Street
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Facsimile: 604 661 2602</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vancouver, British Columbia</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Canada V6C 3M1
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">www.methanex.com</TD>
</TR>
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</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><IMG src="c85371p8537101.jpg" alt="(LOGO)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">May&nbsp;12, 2009
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Ms.&nbsp;Cecilia Blye, Chief<BR>
Office of Global Security Risk<BR>
United States Securities &#038; Exchange Commission<BR>
Washington, D.C.<BR>
20549-3628

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Dear Ms.&nbsp;Blye:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="4%">&nbsp;</TD>
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</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Re:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Methanex Corporation</B></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Form&nbsp;40-F for the Fiscal Year ended December&nbsp;31, 2008</B></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Filed March&nbsp;27, 2009</B></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>File No.&nbsp;0-20115</B></TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">This letter responds to the comments of the Office of Global Security Risk of the Division of
Corporation Finance of the United States Securities and Exchange Commission (the &#147;OGSR&#148;) contained
in a letter to us dated March&nbsp;31, 2009, as set forth below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>General</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>We note the disclosure on pages 5 and 6 of Exhibit&nbsp;99.1 to your </I><I>Form 40-K</I><I> that you are the leading
supplier of methanol to the major international markets in several regions of the world, including
Latin America, a region that can be understood to include Cuba. Also, we note the disclosure on
page 6 that you opened an office in Dubai in 2007 to enhance your corporate presence and capitalize
on future opportunities in the Middle East, a region that is generally understood to include Iran,
Sudan, and Syria. Cuba, Iran, Sudan, and Syria are identified by the U.S. Department of State as
state sponsors of terrorism, and are subject to U.S. economic sanctions and export controls. We
note that your </I><I>Form 40-K</I><I> does not include specific disclosure regarding any contacts with Cuba, Iran, Sudan or Syria.
Please describe to us the nature and extent of your past, current and anticipated contacts with
those countries, if any, whether through direct or indirect arrangements. Your response should
describe any products you have provided to those countries, and any agreements, commercial
arrangements, or other contacts you have had with the governments of those countries or entities
controlled by those governments.</I>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U>Methanex Response</U>:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">This response covers the period commencing January&nbsp;1, 2007 and ending on March&nbsp;31, 2009 (the
&#147;Applicable Period&#148;), which is consistent with the time period covered by the Form 40-F that was
the subject of the OGSR&#146;s inquiry letter, through to the end of the fiscal quarter during which we
received such letter. During the Applicable Period, neither Methanex Corporation nor any of its
subsidiaries (collectively the &#147;Company&#148;) have provided any products to Iran, Syria, Sudan or Cuba
(&#147;Sanctioned Countries&#148;), nor has the Company had any contacts with Syria, Sudan or Cuba.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The Company has had contacts with Iran and has entered into certain commercial arrangements
involving the purchase or exchange of methanol produced in Iran during the Applicable Period, but
we believe such contacts and such commercial arrangements, which are described below, were neither
qualitatively nor quantitatively material.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>1. </B><U><B>Purchases of Methanol Originally Produced in Iran</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Methanol is a globally traded chemical that is used to produce a wide range of industrial and
consumer products and also has a number of energy-related uses. The total estimated global demand
for methanol in 2008 was 40&nbsp;million metric tonnes (&#147;tonnes&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Methanex, a corporation organized and existing under the laws of Canada, is the world&#146;s largest
supplier of methanol. We have production facilities located in Chile, Trinidad and New Zealand and
we are currently constructing a new facility in Egypt. Our total global sales volume in 2008 was
6.1&nbsp;million tonnes, representing approximately 15% of estimated global demand for methanol in 2008.
In addition to the methanol we produce at our own facilities, we purchase methanol from other
producers in the industry, either under methanol purchase contracts or on the spot market.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">We understand that there are currently four (4)&nbsp;methanol plants operating in Iran and the
production capacity of those plants represents almost 10% of total global methanol demand for 2008.
We further understand that three of these plants are owned or controlled by the Government of
Iran (&#147;Government-Owned Plants&#148;) and that a fourth plant may be privately held (&#147;Privately-Held
Plant&#148;), albeit with indirect links to the Government of Iran.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">We further understand that Iran Petrochemical Commercial Company (&#147;IPCC&#148;), an entity controlled by
the Government of Iran, is responsible for marketing all of the methanol produced from the
Government-Owned Plants, as well as other petrochemicals produced in Iran. IPCC has foreign
offices and subsidiaries around the globe, including the United Kingdom, Germany, China, Singapore,
India, the United Arab Emirates (&#147;UAE&#148;), South Korea and Turkey and also works through a number of
agents in different countries. We are also advised that the Privately-Held Plant does not market
its methanol through IPCC, but rather sells to international methanol traders based outside of Iran
and primarily in Japan and Europe (&#147;International Traders&#148;) or sells directly to others.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">During the Applicable Period, with one exception, all purchases of methanol produced in Iran
(&#147;Iranian-origin methanol&#148;) by the Company were made from International Traders. The one exception
of which the Company is aware is a spot market purchase (representing 0.2% of our total sales
volume in 2008) directly from an entity based in Iran, namely IPCC.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The table below sets out, to the best of the Company&#146;s knowledge after due inquiry, the Company&#146;s
total direct and indirect purchases of Iranian-origin methanol during the Applicable Period. Of
these purchases, a total of about 21,300 tonnes was purchased under a one-year methanol purchase
agreement with an International Trader based in Japan (the &#147;Japanese Purchase Contract&#148;). This
contract expired on October&nbsp;31, 2008 and has not been renewed. The remainder of these purchases
were made on the spot market. During the Applicable Period, the Company has not sold methanol to
any Iranian Parties (defined below).
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The data in the table establishes that the Company&#146;s purchases of Iranian-origin methanol during
the Applicable Period were quantitatively immaterial. The staff in the Company&#146;s marketing offices
in Europe and Asia had various contacts from time to time during the Applicable Period with
International Traders as well as IPCC and the Privately-Held Plant to discuss these purchases.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Volume of Iranian-</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>% of Total</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>% of Annual Operating</B></TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Origin Methanol</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Sales</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Price Paid</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Income Derived from</B></TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Purchased</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Volume for</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>$USD</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Sale of Iranian-Origin</B></TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Time Period</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>(tonnes)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Period</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>(millions)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Methanol for Period</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">2007</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">106,090</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">1.6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">$66.4</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&#151;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">2008</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">119,599</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">2.0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">$53.5</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">1.2%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Jan&nbsp;1&nbsp;&#151;&nbsp;Mar 31/09</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&#151;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The operating income derived from sales of Iranian-origin methanol for the period is
calculated as the volumes of Iranian-origin methanol by shipment multiplied by the difference
between the Methanex quarterly global weighted average posted price per tonne for the quarter
in which such methanol was purchased, less the invoiced cost of Iranian-origin methanol per
tonne. The Company sustained a small loss in connection with the purchase and resale of
this product in 2007.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">In addition to the purchases discussed above, in April&nbsp;2008 we entered into a product exchange
(&#147;swap&#148;) that involved Iranian-origin methanol with a party based in Japan that owns interests in
several methanol plants outside of Iran (&#147;Japanese Producer&#148;). The total volume exchanged in
connection with this swap was 20,000 tonnes, and approximately 5,250 tonnes of this total volume
was Iranian-origin methanol.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">During the Applicable Period, the Company also vetted all vessels carrying Iranian product for
suitability. Although none of these vessels was, to our knowledge, owned by any Iranian Parties,
at least one of these vessels was chartered by IPCC.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>2. </B><U><B>Other Contacts</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">In 2007, we opened an office in Dubai, UAE, to enhance our corporate presence and capitalize on
opportunities in the Middle East in advance of the completion of the new methanol plant that we are
currently constructing with partners in Egypt and which is due to start up in 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">From time to time during the Applicable Period, staff based in our Dubai office and staff from our
Canadian, European and Asian offices have had contacts with various representatives from the
Government of Iran, entities (including petroleum/petrochemical entities) that are owned or
controlled by the Government of Iran, the Canadian Embassy in Tehran and other non-governmental
entities based in Iran (collectively &#147;Iranian Parties&#148;) to discuss a number of matters that were
not quantitatively nor qualitatively material to the Company, including general relationship
building. These contacts occurred both inside and outside of Iran and included topics such as
Iran&#146;s methanol industry, the use of methanol in fuel and the benefits of methanol fuel blending,
attendance at Iran&#146;s Petrochemical Conference in Tehran and various other discussions relating to
the marketing of Iranian-origin methanol. In addition, on at least two occasions during the Applicable Period, the Company had discussions
with private Iranian individuals concerning the Company&#146;s interest in investing in methanol plants
in Iran. The Company advised such individuals that it was not interested in making, nor willing to
make, any such investments, and no further discussions of this nature occurred. It is reasonable
to expect that the Company could be approached in future by individuals inquiring as to our
interest in investing in methanol plants in Iran.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>3.&nbsp;</B><U><B>The Company&#146;s Compliance Procedures</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">During the Applicable Period, the Company has not maintained any physical operations or any
personnel stationed in any Sanctioned Country. The Company is aware of the various U.S. legal
restrictions in effect against the Sanctioned Countries and their application to the Company&#146;s
global operations. Accordingly, the Company has in place specific policies and procedures designed
to ensure compliance with such U.S. laws, to the extent they are applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>4. </B><U><B>Final Comments</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The Company did not have contacts with, or provide any products to, Syria, Sudan or Cuba during the
Applicable Period, nor does it anticipate having such contacts in the future. While the Company
has had commercial dealings involving Iranian-origin methanol, such dealings have been immaterial.
The Company has not purchased or swapped Iranian-origin methanol or supplied any products to Iran
in 2009. In addition, the Company does not anticipate purchasing or swapping Iranian-origin
methanol, either directly or indirectly, in the future and we believe that this will not have a
material adverse effect on our global operations or our financial results. The Company also does
not anticipate selling methanol to, or swapping methanol with, any Iranian Parties, nor do we
anticipate making any investments in Iran, including investments in Iranian methanol plants.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">As mentioned above, Iran is a major producer of methanol and an active participant in the global
methanol industry. Methanol is a globally traded commodity and, like many commodities, is fungible
provided that certain specifications are met. As a result, during the ordinary course of business,
it is difficult for the Company to avoid contact with Iran or parties with links to Iran.
Furthermore, the Company, as the leading global supplier of methanol, considers it important to
participate in and improve our knowledge of the global methanol market and in particular, the
rapidly evolving and high growth methanol market in Asia. As Iran is a key player in the Asian and
global methanol markets, we believe that it is important for the Company to understand the Iranian
methanol market. The contacts described under section 2 above (other than contacts related to
purchases and swaps of Iranian-origin methanol by the Company) reflect these efforts by the Company
and will likely continue.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">In summary, the Company does not believe its current or anticipated contacts related to Iran,
whether individually or in the aggregate, would be quantitatively or qualitatively material to its
shareholders or to potential investors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">In providing this letter in response to the staff&#146;s comments, the Company does not undertake to
update any of the information in this letter due to events or circumstances that occur after the
date of this letter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U>Undertaking</U>:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">In connection with providing the response herein, the Company acknowledges that:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Company is responsible for the adequacy and accuracy of the disclosure in the
filings;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>staff comments or changes to disclosure in response to staff comments do not foreclose
the Commission from taking any action with respect to the filings; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Company may not assert staff comments as a defense in any proceeding initiated by
the Commission or any person under the federal securities laws of the United States.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">If you have any questions regarding our response, please don&#146;t hesitate to call me at 604-661-2667,
or in my absence, Wendy Bach, Senior Counsel at 604-661-2609.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Sincerely,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>METHANEX CORPORATION</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><u>/s/ Randall M. Milner</u><BR>
Per: Randall M. Milner<BR>
Senior Vice President, General<BR>
Counsel &#038; Corporate Secretary

</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
