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Business

SABIC, Sinopec Drop Trinidad Project

by Alexander H. Tullo
March 11, 2013 | APPEARED IN VOLUME 91, ISSUE 10

Saudi Basic Industries Corp. (SABIC) and Sinopec will cease negotiations with the government of Trinidad and Tobago on a massive methanol-to-olefins project. The $5.3 billion complex would have used that country’s abundant methane resources to make petrochemical derivatives for export. SABIC says the partners had been negotiating with the government since last February but could not reach a deal. In 2009, Westlake Chemical canceled plans to build a $1.5 billion ethylene and polyethylene facility in Trinidad.

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