Construction Boxscore Database is produced by Hydrocarbon Processing | HydrocarbonProcessing.com
Subscriber Login
 
 

Twitter LinkedIn

Microsoftteams Image 19

 

Geimapping Promo Bxsite

News Post

Sabic signs agreement to develop methanol facility in Louisiana

Saudi Basic Industries Corporation signed a preliminary agreement with South Louisiana Methanol to explore the possibility of developing a chemicals plant in the US, as the region's largest energy firms looks to profit from surging North American shale gas production.

The Louisiana-based company, which is majority owned by New Zealand’s Todd Corporation, will evaluate the potential for establishing a methanol plant with capacity of more a 1.8 MMtpy annually with Sabic.

The six-month partnership agreement between the two firms has provision for extension. Final investment decision will be taken after obtaining required approvals and licences following the completion of the study, Sabic said in a statement to Saudi Stock Exchange, where its shares are traded.

"The agreement is part of Sabic strategy to focus on geographic diversification of its business to reach new global markets and enable the company to access competitive feedstock," the company said.

Saudi Aramco, the world's biggest oil producing company, is in talks to buy a 70% stake in Sabic, the kingdom's largest listed company. The Saudi chemicals firm has looked to significantly increase methanol in its portfolio this year.

Sabic increased its stake in Arrazi Methanol Company after purchasing Japan Saudi Arabia Methanol Company's 50% interest for $150 million in December.

Sabic and JSMC’s holdings in the methanol company, located in the eastern industrial city of Jubail, will now be 75% and 25%, respectively.

Source: The National, UAE

For subscriptions or a demo:

Sam Hassaniyeh
Subscription Executive
Phone: +44 203 4092242

For questions or to give feedback:

Thad Pittman
Senior Researcher
Phone: +1 (713) 525-4605

Download our brochure today!

 

Boxscore Online Demo


Boxscore-Now

 

Project News

 
Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws. © 2025 Gulf Publishing Holdings LLC.