A strong methanol price may prompt the opening of a third production line by Methanex Corp in Taranaki.
Economic Development Minister Steven Joyce, appearing on TV3's The Nation programme on Saturday, held out the prospect as an example of a manufacturer expanding production.
"Methanol's been strong so we've seen 500 jobs invested in Taranaki setting up the second Methanex methanol train," Mr Joyce said.
"That's been very busy for the first half of the year and I understand they are looking at opening their third."
The company, which produces methanol from gas, in July restarted a second Motunui facility, which took capacity at that site to approximately 1.5 million tonnes a year.
It said then that the potential to restart the nearby Waitara Valley plant could add to annual production capacity in New Zealand by the end of 2013.