Sabic pulls out of $5.3 billion methanol-to-olefins JV project in Trinidad and Tobago (Update)

Sabic will not be going ahead with plans announced last year to build a $5.3-billion methanol-to-olefins complex in Trinidad and Tobago in a joint venture with Sinopec, Sabic said on Sunday. The company says that “the relevant parties did not reach a deal on the fundamental conditions for this project and Sabic’s decision in consultation with the concerned parties on 3 March 2013 is not to continue with negotiations on this project.” A statement from Trinidad and Tobago's energy minister, Kevin Ramnarine, says that failure to agree on...

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