Saudi Arabia’s ambitious integrated petrochemicals expansion plans took a significant step forward this week. UK firm Ineos plans to build three specialty chemicals plants within the $9bn Amiral petrochemical complex adjacent to the 440,000 b/d Satorp JV refinery at Jubail, the kingdom’s Gulf coast downstream hub.
Ineos signed an MoU for the plants with Satorp partners Aramco (62.5%) and Total (37.5%) on 3 June, and expects the $2bn project to be complete in 2025. The new plants will be the UK firm’s first in the Middle East.
Aramco CEO Amin Nasser labelled Project Amiral “a quantum leap for Saudi Aramco’s downstream strategy” in October, “producing 2.7mn tons of high value chemicals.” The currently planned projects at Amiral have combined output of around 1.8mn t/y (see table), around 900,000 t/y shy of the target.
This latest Ineos agreement takes the number of plants...