Home»Corporate News»ExxonMobil and SABIC choose location for proposed petrochemical project on U.S. Gulf Coast

ExxonMobil and SABIC choose location for proposed petrochemical project on U.S. Gulf Coast

1
Shares
Pinterest Google+

ExxonMobil Chemical Company and SABIC announced the selection of a site in San Patricio County, Texas in the United States for the potential development of a jointly owned petrochemical complex on the Gulf Coast.

The proposed multibillion-dollar investment would include a world-scale ethane steam cracker capable of producing 1.8 million tonnes of ethylene per year, which would feed a monoethylene glycol unit and two polyethylene units.

The proposed project is one of 11 projects announced by ExxonMobil as part of its 10-year, USD20 billion “Growing the Gulf initiative.”

“This decision represents a significant milestone for both the local community and the state of Texas,” said Neil Chapman, president of ExxonMobil Chemical Company. “We wish to thank local and state officials who have been instrumental in the site selection process, as well as everyone in the community who attended meetings to learn more about the project and provided us with constructive feedback.”

With site selection completed, ExxonMobil and SABIC will now apply for the necessary air and wastewater permits from the Texas Commission on Environmental Quality. Each company will make a final decision on the investment after the required permits have been granted.

“We are focused on geographic diversification to supply new markets,” said SABIC Vice Chairman and CEO Yousef Abdullah Al-Benyan. “The proposed venture would capture competitive feedstock, capitalise on the growing global demand for ethylene-based products, and reinforce SABIC’s strong position in the value chain.”

ExxonMobil Chemical Company is one of the largest petrochemical companies in the world. The company holds leadership positions in some of the largest-volume and highest-growth commodity petrochemical products in the world. ExxonMobil Chemical Company has manufacturing capacity in every major region of the world, serving large and growing markets. More than 90% of the company’s chemical capacity is integrated with large refineries or natural gas processing plants.

SABIC, the Saudi Arabia Basic Industries Corporation, ranks among the world’s top petrochemical companies, and is among the world’s market leaders in the production of polyethylene, polypropylene, advanced thermoplastics, glycols, methanol and fertilizers. SABIC manufactures on a global scale in Saudi Arabia, the Americas, Europe and Asia-Pacific. The company operates in more than 50 countries across the world with 40,000 employees worldwide.

SABIC is the largest public company in Saudi Arabia, as listed in Tadawul, but the Saudi government still owns 70% of its shares.

 

F+L Week 2018 | Contact Form | 728×90