Kazakh, Saudi Energy Ministers meet in Astana
The meeting was held within the framework of the agreements reached between the heads of state of Kazakhstan and Saudi Arabia on October 24-25, 2016 in Riyadh.
At the meeting in Astana, the meeting, United Chemical Company LLP (the main operator of the State Program on Accelerated Industrial and Innovative Development for the chemical industry) and SABIC (Saudi Basic Industries Corporation), a diversified manufacturing company, active in chemicals and intermediates, industrial polymers, fertilizers, and metals, one of the five largest petrochemical companies in the world, signed a memorandum of cooperation .
This document is fundamental for studying the feasibility of implementing projects for polyethylene, polypropylene, and methanol production projects in Kazakhstan. The Memorandum was signed by the Chairman of the Board of United Chemical Company LLP Zhenis Oserbay and the CEO of SABIC Yousef Abdullah Al-Benyan.
According to Minister Bozumbayev, the signing of the memorandum is a good example of strengthening cooperation in the oil and gas sector. He expressed confidence that the experience of SABIC will help to prepare an effective model for the implementation of oil and gas chemical projects.
The projects will be implemented on the territory of the Atyrau region petrochemical zone.