Record LNG exports from the U.S. helped soften the blow to Europe from sharply lower Russian pipeline natural gas supplies in 2022, and will remain a key energy source for the continent, prompting a race to bring more U.S. export terminals online.
Saudi oil giant Aramco has joined forces with TotalEnergies to build a world scale petrochemical facility in Jubail at an investment of $11 billion. The complex will boast a mixed feed cracker capable of producing 1.65 million T per annum of ethylene.
The project involves investment of about $11 billion, of which $4 billion will be funded through equity by Aramco (62.5 percent) and TotalEnergies (37.5 percent)
(Page 1) The Saudi Arabian Oil Co. (Aramco; Dhahran, Saudi Arabia) and TotalEnergies SA (Paris, France) have taken the final investment decision for the