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SABIC wants to build a large methanol plant in the United States

SABIC wants to build a large methanol plant in the United States

January 14, 2019

SABIC recently announced that it has cooperated with South Louisiana methanol company to evaluate the project of building a 2million ton/a methanol plant in Louisiana. The two sides have signed a six-month "preliminary agreement" to study the situation of this project

SABIC said in a statement that the two companies will study the economic, technical and financial aspects of the project and decide whether to advance the project in China once all necessary licenses are obtained, so as to realize the development of coatings from low-end products to high-end products. After the expiration of the preliminary agreement, it can be extended for more than six months

SABIC said that this agreement is part of its strategy to focus on geographical diversification of business in order to enter the global market and obtain competitive raw materials. SABIC currently holds a minority stake in the 884500 ton/year cracking unit of houwa chemical company in gaisma, Louisiana, which was invented by the German company of covestro (formerly Bayer materials technology) in 37 years. At the same time, it is also a partner of ExxonMobil's petrochemical consortium near Corpuschristi, Texas, The ethylene cracking capacity of this consortium is 1.8 million tons/year, and it also produces derivatives such as polyethylene and ethylene glycol. And huge market demand

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