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Sabic pulls out of methanol-to-olefins JV project

3:35 PM MST | March 11, 2013

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. 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.” A statement from Trinidad and Tobago’s energy minister, Kevin Ramnarine, says that failure to agree on the price of natural gas was a key factor that led to the...

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