Sabic, ExxonMobil establish JV petrochemical complex in Louisiana

Sabic, ExxonMobil to establish JV on petrochemical complex in Louisiana

5:00 AM, 3rd January 2019

HOUSTON, US: Sabic and an affiliate of Exxon Mobil Corporation are considering the potential development of a jointly owned petrochemical complex on the U.S. Gulf Coast.

The project would be located in Texas or Louisiana near natural gas feedstock and include a world-scale steam cracker and derivative units.

Before making final investment decisions, the companies will conduct necessary studies and work with state and local officials to help identify a potential site with adequate infrastructure access.

“We are focused on geographic diversification to supply new markets. The proposed venture would capture competitive feedstock and reinforce Sabic’s strong position in the value chain,” said Yousef Abdullah Al-Benyan, Sabic vice chairman and chief executive officer.

“We have the capability to design a project with a unique set of attributes that would make it competitive globally. That is vitally important as most of the chemical demand growth in the next several decades is anticipated to come from developing economies,” said Neil Chapman, president of ExxonMobil Chemical Company.

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