The world's second-largest petrochemical group, Shale gas revolution Saudi Basic Industries Corporation (SABIC) acting chief executive Yousef Abdullah Al-Benyan recently revealed: the company plans to set up a joint venture by way of expanding investment in the US shale gas projects.
SABIC company has its headquarters in Houston, Texas and the United States Enterprise Products Partners LP The company signed a cooperation agreement for shale gas. It is reported that, SABIC company will be US shale gas as a feedstock to produce olefins and other Coal seam gas derivative products.
SABIC company has said its intention to acquire the US company, has no plans to participate directly in shale gas production in Saudi Arabia, and its focus on increasing investment in the United States and China in related fields, in order to products on the market more competitive.