ExxonMobil and SABIC will explore joint ventures in the US

REUTERS/Lucas Jackson/File Photo

REUTERS/Lucas Jackson/File Photo

Affiliates of Exxon Mobil and SABIC signed an agreement to conduct a detailed study of the proposed Gulf Coast Growth Ventures project in Texas and begin planning for front-end engineering and design work.
The agreement was signed during the Saudi-US CEO Forum in Riyadh in the presence of Yousef Al-Benyan, SABIC vice chairman and chief executive officer, and Philippe Ducom, president, chairman and CEO of ExxonMobil Saudi Arabia Inc. Also in attendance were Prince Saud bin Abdullah bin Thenayan Al-Saud, SABIC chairman, and Darren W. Woods, chairman and CEO of Exxon Mobil Corporation.
In April 2017, ExxonMobil and SABIC selected a site in San Patricio County, Texas, for the proposed petrochemical complex that would include an ethane steam cracker capable of producing 1.8 million tonnes of ethylene per year, a monoethylene glycol unit and two polyethylene units.
The project is one of 11 major chemical, refining, lubricant and liquefied natural gas projects associated with ExxonMobil’s Growing the Gulf initiative in the United States that have been made possible by the abundance of low-cost U.S. natural gas.