Saudi's Sipchem in CO2 supply agreement with Sasref

SGC E&C

19/07/2017 07:45

KHOBAR, Saudi Arabia, July 19 (Reuters) - Saudi 
International Petrochemical Co (Sipchem)  2310.SE  said on 
Wednesday its methanol affiliate will start receiving supplies 
of carbon dioxide feedstock from Saudi Aramco Shell Refinery 
(SASREF) in the first quarter of 2019. 
    Sipchem said the long-term agreement is designed to improve 
efficiency at its plant in Jubail.  
    In December, the International Methanol Co (IMC) signed a 
contract with South Korea's eTEC E&C  016250.KQ  for work 
costing 542.6 million riyals ($144.6 million) expected to be 
completed in the fourth quarter of 2018.  urn:newsml:reuters.com:*:nL5N1E33K5 
    The IMC - 65-percent owned by Sipchem, with the rest owned 
by a group of Japanese companies - has an annual production 
capacity of 967,000 tonnes of methanol. 
    Sipchem said in the statement on Wednesday the positive 
financial impact from the supply agreement will start from the 
first quarter of 2019. 
     
 
 (Reporting by Reem Shamseddine, editing by Louise Heavens) 
 ((Reem.Shamseddine@thomsonreuters.com; +966503335202; Reuters 
Messaging: reem.shamseddine.thomsonreuters.com@reuters.net)) 
 
Keywords: SIPCHEM SASREF/CARBON