The facility has been placed into service in the fourth-quarter 2013 to take advantage of low-cost natural gas from shale formations.
The company said that the unit had been out of service since 2004, as a result of the rising cost of natural gas, which is the key feedstock for methanol production.
LyondellBasell intermediates and derivatives senior vice president Patrick Quarles said the methanol plant re-start is the first in a series of US Gulf Coast projects by the company.
"The methanol plant project and our other significant debottleneck projects will bring new capacity into our system earlier and at substantially lower cost than constructing entirely new facilities," Quarles added.
The company’s other growth projects include expansions of ethylene capacity at La Porte, Channelview and Corpus Christi, Texas, which are expected to add 1.8 billion pounds to the annual capacity, as well as the expansion of a polyethylene facility in Matagorda county, Texas.
