Saudi Arabia’s Sabic in Talks on Trinidad Methanol Venture

Saudi Basic Industries Corp., the world’s largest petrochemicals producer, is in talks over a potential methanol plant venture in Trinidad and Tobago, according to Chief Financial Officer Mutlaq al-Morished.

Talks are being conducted under a confidentiality agreement, al-Morished said today at a conference in Dubai, without giving any further details.

The majority government-owned company known as Sabic, which produces methanol in Saudi Arabia, is expanding to meet rising demand for petrochemical products in growing economies including China and India.

Trinidad and Tobago produces liquefied natural gas for sale to the U.S. and uses gas for the production of methanol, ammonia and steel.

To contact the reporter on this story: Ayesha Daya in Dubai at adaya1@bloomberg.net

To contact the editor responsible for this story: Anthony DiPaola at adipaola@bloomberg.net

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