Saudi ‘has enough gas for petchem projects

Arab News

Saudi Arabia has enough natural gas to supply planned petrochemical projects, a top Petroleum and Mineral Resources Ministry official said. 

“All projects under development and all the existing plants producing today are fully supplied,” ministry adviser Prince Faisal bin Turki added. 

He made the remarks on the sidelines of the First Saudi Forum on Downstream Petrochemical and Mineral Industries that concluded in Yanbu on Wednesday. 

Royal Commission for Jubail and Yanbu (RCJY) Chairman Prince Saud Bin Abdullah Bin Thunayan opened the two-day forum. 

The commission organized the forum with the aim of exploring the opportunities within the Kingdom’s downstream petrochemical sector to play a central role in the diversification of the economy. 

Prince Faisal indicated that only companies with a “committed” expansion scheme would receive new gas allocation and that the type of feedstock, whether it’s liquid or natural gas, would depend on the project. 

The topics discussed at the forum included Saudi opportunities for a diversified economy, role of the Middle East in the global chemical landscape, supply and demand of feedstocks, research and development, long-term needs of the mineral value chain to develop the downstream sector, mineral mapping of Saudi Arabia and growth potential, opportunities in speciality chemicals for future transformation, and the need for market stability. 

Many experts from Saudi Arabia and abroad attended the event.