Sabic Signs Agreement to Develop Methanol Facility in Louisiana

The National, January 4, 2019

Saudi Basic Industries Corporation (SABIC) 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 than 1.8 million metric tonnes annually with Sabic.

"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.

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