CEO: SABIC mulls shale gas investments in North America

06/05/2014 Argaam

Saudi Basic Industries Corporation (Sabic) is considering investment opportunities in the shale gas sector in North America, according to CEO Said Mohammed Al-Madi.

Al-Madi said it is premature to announce a final deal or tie-up, but asserted that his teams in the US and Saudi are carefully assessing opportunities.

The top official said his company seeks to sort out the gas scarcity issue, as its facilities were designed without power conservation in mind.

He said shale gas investments are available in several countries including Argentina, Brazil, Mexico and Saudi Arabia, but their production cost varies significantly, obviously a factor in assessing potential tie-ups.

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