Related parties

12 Months Ended

Dec. 31, 2022

Related parties

Related parties:

The Company has interests in significant subsidiaries and joint ventures as follows:

Name

Country of
incorporation

Principal activities

Interest %

Dec 31
2022

Dec 31
2021

Significant subsidiaries:

Methanex Asia Pacific Limited

Hong Kong

Marketing & distribution

100%

Methanex Services (Shanghai) Co., Ltd.

China

Marketing & distribution

100%

Methanex Europe NV

Belgium

Marketing & distribution

100%

Methanex Methanol Company, LLC

United States

Marketing & distribution

100%

Egyptian Methanex Methanol Company S.A.E.
("Methanex Egypt")

Egypt

Production

50%

Methanex Chile SpA

Chile

Production

100%

Methanex New Zealand Limited

New Zealand

Production

100%

Methanex Trinidad (Titan) Unlimited

Trinidad

Production

100%

Methanex USA LLC

United States

Production

100%

Methanex Louisiana LLC

United States

Production

100%

Waterfront Shipping Limited 1

Cayman Islands

Shipping

60%

100%

Significant joint ventures:

Atlas Methanol Company Unlimited 2

Trinidad

Production

63.1%

1 On February 1, 2022, we closed the shipping partnership with Mitsui O.S.K. Lines, Ltd. ("MOL") whereby MOL acquired a 40% minority interest in Waterfront Shipping Limited. See note 25.

2 Summarized financial information for the investment in Atlas is disclosed in note 6.

Transactions between the Company and Atlas are considered related party transactions and are included within the summarized financial information in note 6. Atlas revenue for the year ended December 31, 2022 of $532 million (2021 - $620 million) is a related party transaction included in cost of sales of the Company as Methanex has marketing rights for 100% of the methanol produced by Atlas. Balances outstanding with Atlas as at December 31, 2022 and provided in the summarized financial information in note 6 include receivables owing from Atlas to the Company of $73 million (2021 - $37 million), and payables to Atlas of $198 million (2021 - $211 million). The Company has total loans outstanding to Atlas as at December 31, 2022 of $76 million (2021 - $76 million) which are unsecured and due at maturity.

Remuneration to non-management directors and senior management, which includes the members of the executive leadership team, is as follows:


For the years ended December 31	2022		2021
Short-term employee benefits	$	11,760	$	6,273
Post-employment benefits	656		766
Other long-term employee benefits	52		53
Share-based compensation expense (recovery) 1	6,142		(1,545)
Total	$	18,610	$	5,547

1 Balance includes realized and unrealized expenses and recoveries from share-based compensation awards granted.