This report provides an analysis of key developments in the methanol industry, including capacity updates, profitability and pricing developments over the past quarter.  The ‘Key Challenges’ section discusses the developing methanol industry in Iran.  Iran is a country with much potential for methanol capacity investment.  There are many projects planned, based on attractively priced and readily available natural gas, and opportunities for further investment.  Whilst political instability and international relations raises a threat to future investments, evident by the delays experienced in current proposed projects, Iran is likely to become an even greater global net exporter in the methanol market.