Category

Countries

Joint Venture Between SABIC and ExxonMobil Achieved Mechanical Completion Before Time

Joint Venture Between SABIC and ExxonMobil Achieved Mechanical Completion Before Time

Joint Venture Between SABIC and ExxonMobil Achieved Mechanical Completion Before Time

  • 27-Jul-2021 7:00 PM
  • Journalist: Nicholas Seifield

Gulf Coast Growth Ventures (GCGV), a joint venture, between Saudi petrochemical giant SABIC and the US petrochemical major ExxonMobil attained mechanical completion for their Texas facility before scheduled time. New facility located near Corpus Christi, Texas will have one unit for Monoethylene Glycol (MEG) and two units for Polyethylene (PE). With the completion of the mechanical work, facility is likely to come online by Q4 this year.

Both the oil majors came together in 2018 to build a best-in class facility in Texas with a plan to build an Ethane cracker of 1.8 million metric ton per year in San Patricio County, Texas and one unit of Monoethylene Glycol (MEG) and two Polyethylene units with production capacity of 1100 KTPA and 1300 KTPA, respectively.

Gulf Coast Growth Ventures is the third joint venture between SABIC and ExxonMobil. Before this, two long-standing joint ventures with ExxonMobil-Kemya in Jubail and Yanpet in Yanbu were based in Saudi Arabia.

As per the estimates, the project will be of high economic benefits for the Texas state as it has already provided the economic gains of USD 22 billion and will cross USD 50 billion in the next six years by operations.

Karen Mckee, president of ExxonMobil Chemical Company remarked, “Gulf Coast Growth Ventures is a key development of our plan to serve growing demand of high value performance product. This is truly a best-in-class project, as demonstrated in schedule acceleration and cost competitiveness, despite the many challenges related to COVID-19 pandemic.”

Abdulrahman Al-Fageeh, SABIC’ s executive vice president of petrochemical said, “We are very proud to GCGV one step closer to operations. Not only are we ahead of schedule but we have executed this project with highest commitment and emphasis on safety with nearly 18 million safe person-hours worked, all while acting on the promises we made to the community when we started this journey four years ago.”

24X7

Track Real Time Prices

Related News

MEGlobal Lowers Its Mono Ethylene Glycol Contract Prices For the Upcoming Month
  • 24-Nov-2022 3:28 PM
  • Journalist: Jai Sen
Mono-Ethylene Glycol Market Slumps, and the Outlook Remains on A Bearish Note
  • 18-Aug-2022 2:42 PM
  • Journalist: Nina Jiang
China Mono-Ethylene Glycol (MEG) Price Value Uplifts as Crude Oil Market Rebounds
  • 28-Jul-2022 2:23 PM
  • Journalist: Rene Swann