SABIC and ExxonMobil will conduct a detailed study of the proposed Gulf Coast Growth Ventures project for a petrochemical complex in Texas.
Both companies agreed to being planning for front-end engineering and design work.
A site in San Patricio County, Texas, was selected in April for the proposed petrochemical complex that would inclue 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 LNG projects associated with ExxonMobil’s growing the Gulf initiative in the US – made possible by the abundance of low-cost US natural gas.
Philippe Ducom, president, chairman and CEO of ExxonMobil Saudi Arabia, says: ‘This agreement represents an important step in the progression of the Gulf Coast Growth Ventures project.
‘We have a long and successful relationship with SABIC, which will be enhanced by this potential project that will create value for our companies and our communities.’