Saudi Arabian Basic Industries Corp. (SABIC) and ExxonMobil Corp. affiliate ExxonMobil Chemical Co. are exploring potential development of a jointly owned grassroots petrochemical complex to be built at the US Gulf Coast.
If developed, the project—which would include a steam cracker and derivative units—would be built in Texas or Louisiana near natural gas feedstock, ExxonMobil said.
Before making final investment decisions for the project, the companies said they first plan to conduct necessary studies as well as work with state and local officials to help identify a potential site with adequate infrastructure access.
Further details regarding the proposed development, including an estimated cost and timeline for construction, were not disclosed.
This latest possible joint venture involving SABIC follows an announcement by the company last month that it has partnered with Saudi Aramco to conduct a joint feasibility study for development of a fully integrated crude oil-to-chemicals complex in Saudi Arabia (OGJ Online, June 28, 2016).
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