AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON April 3, 2007
                                                     REGISTRATION NO. 333-______
================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                               -------------------


                                    FORM S-8
                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933

                               -------------------

                              METHANEX CORPORATION
             (Exact name of registrant as specified in its charter)

        BRITISH COLUMBIA, CANADA                                    N/A
     (State or other jurisdiction of                         (I.R.S. Employer
     incorporation or organization)                         Identification No.)

                   SUITE 1800, 200 BURRARD STREET, VANCOUVER,
                        BRITISH COLUMBIA, CANADA V6C 3M1
                                 (604) 661-2600
          (Address of principal executive offices, including zip code)

                   METHANEX CORPORATION STOCK OPTION PLAN 2006
                              (Full title of plan)

                               CT CORPORATE SYSTEM
                           111 8TH AVENUE, 13TH FLOOR
                            NEW YORK, NY 10011 98101
                                 (212) 894-8700
               (Name, address and telephone number, including area
                          code, of agent for service)

                                   COPIES TO:
                                EDWIN S. MAYNARD
                        PAUL, WEISS, RIFKIND, WHARTON &
                                  GARRISON LLP
                          1285 AVENUE OF THE AMERICAS
                            NEW YORK, NY 10019-6064
                                 (212) 373-3000

<TABLE>
<CAPTION>
=============================================================================================================================
                                                              PROPOSED            PROPOSED MAXIMUM
   TITLE OF SECURITIES             AMOUNT TO BE           MAXIMUM OFFERING       AGGREGATE OFFERING            AMOUNT OF
     TO BE REGISTERED           REGISTERED (1)(2)        PRICE PER UNIT (3)           PRICE (3)            REGISTRATION FEE
-----------------------------------------------------------------------------------------------------------------------------
<S>                             <C>                      <C>                     <C>                       <C>
Common Shares............       5,250,000 shares             $ 22.48                $ 118,020,000             $ 3,623.21
=============================================================================================================================
</TABLE>
-------------
(1)  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  416  shall  apply  to  this
     registration statement.
(2)  Represents the maximum number of shares that may be issued under the Plan.
(3)  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 March 28, 2007.

================================================================================

<PAGE>

                                    PART II
                           INFORMATION REQUIRED IN THE
                             REGISTRATION STATEMENT

ITEM 1.  PLAN INFORMATION

         The  information  required  by Item 1 is included  in  documents  made
available to  participants in the Methanex  Corporation  Stock Option Plan 2006
(the  "Plan")  pursuant to Rule  428(b)(1) of the  Securities  Act of 1933 (the
"Securities Act"), as amended.

ITEM 2.  REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION

         The written statement required by Item 2 is included in documents sent
or given to  participants  in the Plan covered by this  registration  statement
pursuant to Rule  428(b)(1) of the Securities  Act, as amended.  The Registrant
will provide to the participants of the Plan a written statement  advising them
of the  availability  without  charge,  upon  written or oral  request,  of the
documents  incorporated by reference herein, as required by Item 2 of Part I of
Form S-8. The statement also shall indicate the  availability  without  charge,
upon written or oral request,  of other  documents  required to be delivered to
employees  pursuant to Rule 428(b).  The  statement  shall  include the address
(giving title or department) and telephone number to which the request is to be
directed.

ITEM 3.  INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE

         The  following  documents  heretofore  filed with the  Securities  and
Exchange Commission (the "Commission") by Methanex  Corporation (the "Company")
are incorporated herein by reference:

         (a)    The  Company's  Annual  Report on Form 40-F for the fiscal year
ended  December 31, 2006 (the "Annual  Report")  filed with the  Commission  on
April 2, 2007 under Section 13(a) of the  Securities and Exchange Act of 1934,
as amended (the "Exchange Act"); and

         (b)    All other reports  filed  pursuant to Section 13(a) or 15(d) of
the  Exchange  Act,  since the end of the  fiscal  year  covered  by the Annual
Report.

         All documents filed by the Company pursuant to Sections 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 "Incorporated Documents").

         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

<PAGE>

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.

ITEM 4.  DESCRIPTION OF SECURITIES

         The class of securities  to be offered is registered  under Section 12
of the Exchange Act.

         Our authorized share capital consists of an unlimited number of common
shares  and  25,000,000  preferred  shares.  As  of  March  28,  2007,  we  had
104,588,292 common shares and no preferred shares  outstanding.  Holders of our
common shares are entitled to one vote at any meeting of our  shareholders  and
are entitled to receive any dividend declared by our board of directors.

         In September 2002, we commenced paying a quarterly dividend of US$0.05
per share to our shareholders.  The quarterly dividend was increased to US$0.06
per share  effective  September  30,  2003,  to  US$0.08  per  share  effective
September  30,  2004,  to US$0.11 per share  effective  June 30,  2005,  and to
US$0.125 per share effective June 30, 2006. In addition, our board of directors
periodically  considers  other forms of  distributions  when  general  business
conditions,  financial results, capital requirements and other relevant factors
warrant. In February 2003, we paid a special dividend of US$0.25 per share.


ITEM 5.  INTERESTS OF NAMED EXPERTS AND COUNSEL

         Not applicable.


ITEM 6.  INDEMNIFICATION OF DIRECTORS AND OFFICERS

         Under the CANADA BUSINESS CORPORATIONS ACT (the "CBCA"), which governs
Methanex  Corporation (the "Registrant"),  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'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'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.

<PAGE>

         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'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) acted  honestly and in good faith with a view of the best  interests of the
Registrant,  and (b) 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.

         The Registrant  maintains directors' and officers' 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.

         Insofar as indemnification  for liabilities  arising under the Act 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 Commission such  indemnification is against public policy as
expressed in the Act, and is therefore unenforceable.


ITEM 7.  EXEMPTION FROM REGISTRATION CLAIMED

         Not applicable.


ITEM 8.  EXHIBITS

EXHIBIT         DESCRIPTION
-------         -----------
  4.1           Certificate of Continuance of Methanex Corporation

  4.2           By-laws of Methanex Corporation (Included in Exhibit 4.1)

  4.3           Methanex Corporation Stock Option Plan 2006

  5.1           Opinion of McCarthy Tetrault LLP

  23.1          Consent of McCarthy Tetrault LLP (Included in Exhibit 5.1)

  23.2          Consent of KPMG, Independent Registered Public Accounting Firm

  24            Powers of Attorney (included on the signature pages to this
                registration statement)

<PAGE>

ITEM 9.  UNDERTAKINGS

         (a)    The undersigned Registrant hereby undertakes:

                (1)    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;

                (2)    That, for the purpose of determining any liability under
the  Act,  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.

                (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.

         (b)    The undersigned Registrant hereby undertakes that, for purposes
of  determining  any liability  under the Act, each filing of the  Registrant's
annual  report  pursuant to section  13(a) or section 15(d) of the Exchange Act
(and, where applicable, each filing of an employee benefit plan's annual report
pursuant  to  section  15(d)  of the  Exchange  Act)  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.

         (c)    Insofar as  indemnification  for liabilities  arising under the
Act 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 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.

<PAGE>

                                   SIGNATURES

         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  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 3rd day of April, 2007.

                                          METHANEX CORPORATION



                                          By: /s/ Ian Cameron
                                              ----------------------------
                                          Name:  Ian Cameron
                                          Title: Senior Vice President, Finance
                                                 and Chief Financial Officer




                               POWER OF ATTORNEY

         Each person whose signature appears below constitutes and appoints Ian
Cameron and Bruce Aitken as such person's true and lawful attorneys-in-fact and
agents, with full power of substitution and revocation,  for such person and in
such person's name,  place and stead, in any and all capacities  (until revoked
in  writing),  to  sign  any  and  all  amendments  (including   post-effective
amendments)  to this  registration  statement  and to file  the  same  with all
exhibits  thereto,  and the other documents in connection  therewith,  with the
Securities and Exchange Commission,  granting unto said  attorneys-in-fact  and
agents,  and each of them,  full power and authority to do and perform each and
every  act and  things  requisite  and  necessary  to be done,  as fully to all
intents  and  purposes  as such  person  might or could  do in  person,  hereby
ratifying and confirming all that said  attorneys-in-fact and agents, or any of
them, or their or his substitute or substitutes, may lawfully do or cause to be
done by virtue hereof.

         Pursuant  to the  requirements  of the  Securities  Act of 1933,  this
Registration  Statement  has  been  signed  by  the  following  persons  in the
capacities indicated effective April 3, 2007:

            SIGNATURE                                 TITLE

        /s/ Bruce Aitken                Chief Executive Officer and
----------------------------------      Director (Principal Executive Officer)
           Bruce Aitken


         /s/ Ian Cameron                Senior Vice President, Finance,
----------------------------------      Chief Financial Officer (Principal
            Ian Cameron                 Financial Officer and Principal
                                        Accounting Officer)


        /s/ Howard Balloch              Director
----------------------------------
          Howard Balloch


       /s/ Pierre Choquette             Director
----------------------------------
         Pierre Choquette


        /s/ Philip H. Cook              Director
----------------------------------
          Phillip H. Cook


        /s/ Robert Findlay              Director
----------------------------------
          Robert Findlay


        /s/ Douglas Mahaffy             Director
----------------------------------
          Douglas Mahaffy


       /s/ A. Terence Poole             Director
----------------------------------
         A. Terence Poole


           /s/ John Reid                Director
----------------------------------
             John Reid


        /s/ Janice Rennie               Director
----------------------------------
           Janice Rennie


         /s/ Monica Sloan               Director
----------------------------------
           Monica Sloan


        /s/ Graham Sweeney              Director
----------------------------------
          Graham Sweeney


<PAGE>


EXHIBIT         DESCRIPTION
-------         -----------
  4.1           Certificate of Continuance of Methanex Corporation

  4.2           By-laws of Methanex Corporation (Included in Exhibit 4.1)

  4.3           Methanex Corporation Stock Option Plan 2006

  5.1           Opinion of McCarthy Tetrault LLP

  23.1          Consent of McCarthy Tetrault LLP (Included in Exhibit 5.1)

  23.2          Consent of KPMG, Independent Registered Public Accounting Firm

  24            Powers of Attorney (included on the signature pages to this
                registration statement)
[{"type": "S-8", "sequence": "1", "filename": "form_s-8.txt", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 20140}]
{"company-data": {"conformed-name": "METHANEX CORP", "cik": "0000886977", "assigned-sic": "2860", "irs-number": "000000000", "state-of-incorporation": "A1", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-141833", "film-number": "07742943"}, "business-address": {"street1": "1800 WATERFRONT CENTER", "street2": "200 BURRARD STREET", "city": "VANCOUVER BC CANADA", "state": "A1", "zip": "00000", "phone": "6046847500"}, "mail-address": {"street1": "1800 WATERFRONT CENTER", "street2": "200 BURRARD STREET", "city": "VANCOUVER BC CANADA"}}
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON April 3, 2007
                                                     REGISTRATION NO. 333-______
================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                               -------------------

                                    FORM S-8
                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933

                               -------------------

                              METHANEX CORPORATION
             (Exact name of registrant as specified in its charter)

        BRITISH COLUMBIA, CANADA                                    N/A
     (State or other jurisdiction of                         (I.R.S. Employer
     incorporation or organization)                         Identification No.)

                   SUITE 1800, 200 BURRARD STREET, VANCOUVER,
                        BRITISH COLUMBIA, CANADA V6C 3M1
                                 (604) 661-2600
          (Address of principal executive offices, including zip code)

                   METHANEX CORPORATION STOCK OPTION PLAN 2006
                              (Full title of plan)

                               CT CORPORATE SYSTEM
                           111 8TH AVENUE, 13TH FLOOR
                            NEW YORK, NY 10011 98101
                                 (212) 894-8700
               (Name, address and telephone number, including area
                          code, of agent for service)

                                   COPIES TO:
                                EDWIN S. MAYNARD
                        PAUL, WEISS, RIFKIND, WHARTON &
                                  GARRISON LLP
                          1285 AVENUE OF THE AMERICAS
                            NEW YORK, NY 10019-6064
                                 (212) 373-3000
=============================================================================================================================
                                                              PROPOSED            PROPOSED MAXIMUM
   TITLE OF SECURITIES             AMOUNT TO BE           MAXIMUM OFFERING       AGGREGATE OFFERING            AMOUNT OF
     TO BE REGISTERED           REGISTERED (1)(2)        PRICE PER UNIT (3)           PRICE (3)            REGISTRATION FEE
-----------------------------------------------------------------------------------------------------------------------------
Common Shares............       5,250,000 shares             $ 22.48                $ 118,020,000             $ 3,623.21
=============================================================================================================================
-------------
(1)  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  416  shall  apply  to  this
     registration statement.
(2)  Represents the maximum number of shares that may be issued under the Plan.
(3)  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 March 28, 2007.

================================================================================
PART II
                           INFORMATION REQUIRED IN THE
                             REGISTRATION STATEMENT

ITEM 1.  PLAN INFORMATION

         The  information  required  by Item 1 is included  in  documents  made
available to  participants in the Methanex  Corporation  Stock Option Plan 2006
(the  "Plan")  pursuant to Rule  428(b)(1) of the  Securities  Act of 1933 (the
"Securities Act"), as amended.

ITEM 2.  REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION

         The written statement required by Item 2 is included in documents sent
or given to  participants  in the Plan covered by this  registration  statement
pursuant to Rule  428(b)(1) of the Securities  Act, as amended.  The Registrant
will provide to the participants of the Plan a written statement  advising them
of the  availability  without  charge,  upon  written or oral  request,  of the
documents  incorporated by reference herein, as required by Item 2 of Part I of
Form S-8. The statement also shall indicate the  availability  without  charge,
upon written or oral request,  of other  documents  required to be delivered to
employees  pursuant to Rule 428(b).  The  statement  shall  include the address
(giving title or department) and telephone number to which the request is to be
directed.

ITEM 3.  INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE

         The  following  documents  heretofore  filed with the  Securities  and
Exchange Commission (the "Commission") by Methanex  Corporation (the "Company")
are incorporated herein by reference:

         (a)    The  Company's  Annual  Report on Form 40-F for the fiscal year
ended  December 31, 2006 (the "Annual  Report")  filed with the  Commission  on
April 2, 2007 under Section 13(a) of the  Securities and Exchange Act of 1934,
as amended (the "Exchange Act"); and

         (b)    All other reports  filed  pursuant to Section 13(a) or 15(d) of
the  Exchange  Act,  since the end of the  fiscal  year  covered  by the Annual
Report.

         All documents filed by the Company pursuant to Sections 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 "Incorporated Documents").

         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.

ITEM 4.  DESCRIPTION OF SECURITIES

         The class of securities  to be offered is registered  under Section 12
of the Exchange Act.

         Our authorized share capital consists of an unlimited number of common
shares  and  25,000,000  preferred  shares.  As  of  March  28,  2007,  we  had
104,588,292 common shares and no preferred shares  outstanding.  Holders of our
common shares are entitled to one vote at any meeting of our  shareholders  and
are entitled to receive any dividend declared by our board of directors.

         In September 2002, we commenced paying a quarterly dividend of US$0.05
per share to our shareholders.  The quarterly dividend was increased to US$0.06
per share  effective  September  30,  2003,  to  US$0.08  per  share  effective
September  30,  2004,  to US$0.11 per share  effective  June 30,  2005,  and to
US$0.125 per share effective June 30, 2006. In addition, our board of directors
periodically  considers  other forms of  distributions  when  general  business
conditions,  financial results, capital requirements and other relevant factors
warrant. In February 2003, we paid a special dividend of US$0.25 per share.

ITEM 5.  INTERESTS OF NAMED EXPERTS AND COUNSEL

         Not applicable.

ITEM 6.  INDEMNIFICATION OF DIRECTORS AND OFFICERS

         Under the CANADA BUSINESS CORPORATIONS ACT (the "CBCA"), which governs
Methanex  Corporation (the "Registrant"),  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'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'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.
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'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) acted  honestly and in good faith with a view of the best  interests of the
Registrant,  and (b) 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.

         The Registrant  maintains directors' and officers' 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.

         Insofar as indemnification  for liabilities  arising under the Act 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 Commission such  indemnification is against public policy as
expressed in the Act, and is therefore unenforceable.

ITEM 7.  EXEMPTION FROM REGISTRATION CLAIMED

         Not applicable.

ITEM 8.  EXHIBITS

EXHIBIT         DESCRIPTION
-------         -----------
  4.1           Certificate of Continuance of Methanex Corporation

  4.2           By-laws of Methanex Corporation (Included in Exhibit 4.1)

  4.3           Methanex Corporation Stock Option Plan 2006

  5.1           Opinion of McCarthy Tetrault LLP

  23.1          Consent of McCarthy Tetrault LLP (Included in Exhibit 5.1)

  23.2          Consent of KPMG, Independent Registered Public Accounting Firm

  24            Powers of Attorney (included on the signature pages to this
                registration statement)
ITEM 9.  UNDERTAKINGS

         (a)    The undersigned Registrant hereby undertakes:

                (1)    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;

                (2)    That, for the purpose of determining any liability under
the  Act,  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.

                (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.

         (b)    The undersigned Registrant hereby undertakes that, for purposes
of  determining  any liability  under the Act, each filing of the  Registrant's
annual  report  pursuant to section  13(a) or section 15(d) of the Exchange Act
(and, where applicable, each filing of an employee benefit plan's annual report
pursuant  to  section  15(d)  of the  Exchange  Act)  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.

         (c)    Insofar as  indemnification  for liabilities  arising under the
Act 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 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.
SIGNATURES

         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  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 3rd day of April, 2007.

                                          METHANEX CORPORATION

                                          By: /s/ Ian Cameron
                                              ----------------------------
                                          Name:  Ian Cameron
                                          Title: Senior Vice President, Finance
                                                 and Chief Financial Officer

                               POWER OF ATTORNEY

         Each person whose signature appears below constitutes and appoints Ian
Cameron and Bruce Aitken as such person's true and lawful attorneys-in-fact and
agents, with full power of substitution and revocation,  for such person and in
such person's name,  place and stead, in any and all capacities  (until revoked
in  writing),  to  sign  any  and  all  amendments  (including   post-effective
amendments)  to this  registration  statement  and to file  the  same  with all
exhibits  thereto,  and the other documents in connection  therewith,  with the
Securities and Exchange Commission,  granting unto said  attorneys-in-fact  and
agents,  and each of them,  full power and authority to do and perform each and
every  act and  things  requisite  and  necessary  to be done,  as fully to all
intents  and  purposes  as such  person  might or could  do in  person,  hereby
ratifying and confirming all that said  attorneys-in-fact and agents, or any of
them, or their or his substitute or substitutes, may lawfully do or cause to be
done by virtue hereof.

         Pursuant  to the  requirements  of the  Securities  Act of 1933,  this
Registration  Statement  has  been  signed  by  the  following  persons  in the
capacities indicated effective April 3, 2007:

            SIGNATURE                                 TITLE

        /s/ Bruce Aitken                Chief Executive Officer and
----------------------------------      Director (Principal Executive Officer)
           Bruce Aitken

         /s/ Ian Cameron                Senior Vice President, Finance,
----------------------------------      Chief Financial Officer (Principal
            Ian Cameron                 Financial Officer and Principal
                                        Accounting Officer)

        /s/ Howard Balloch              Director
----------------------------------
          Howard Balloch

       /s/ Pierre Choquette             Director
----------------------------------
         Pierre Choquette

        /s/ Philip H. Cook              Director
----------------------------------
          Phillip H. Cook

        /s/ Robert Findlay              Director
----------------------------------
          Robert Findlay

        /s/ Douglas Mahaffy             Director
----------------------------------
          Douglas Mahaffy

       /s/ A. Terence Poole             Director
----------------------------------
         A. Terence Poole

           /s/ John Reid                Director
----------------------------------
             John Reid

        /s/ Janice Rennie               Director
----------------------------------
           Janice Rennie

         /s/ Monica Sloan               Director
----------------------------------
           Monica Sloan

        /s/ Graham Sweeney              Director
----------------------------------
          Graham Sweeney
EXHIBIT         DESCRIPTION
-------         -----------
  4.1           Certificate of Continuance of Methanex Corporation

  4.2           By-laws of Methanex Corporation (Included in Exhibit 4.1)

  4.3           Methanex Corporation Stock Option Plan 2006

  5.1           Opinion of McCarthy Tetrault LLP

  23.1          Consent of McCarthy Tetrault LLP (Included in Exhibit 5.1)

  23.2          Consent of KPMG, Independent Registered Public Accounting Firm

  24            Powers of Attorney (included on the signature pages to this
                registration statement)