ExxonMobil, SABIC sign agreement

Affiliates of Exxon Mobil Corporation (XOM) and SABIC (Saudi Basic Industries Corporation) have 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.

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 MT 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.

ExxonMobil’s projects, once completed and operating at mature levels, are expected to have far-reaching and long-lasting benefits.

ExxonMobil and SABIC have successfully collaborated on several petrochemical joint ventures in Saudi Arabia, including the Al-Jubail Petrochemical Company and Saudi Yanbu Petrochemical Company. Most recently, the companies constructed a large scale specialty elastomers facilities at the Al-Jubail joint venture complex to help meet the growing demand for rubber-based industrial and automotive products.

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