Motiva Enterprises LLC, a subsidiary of Saudi Aramco, signed MoUs worth between $8 billion to $10 billion with U.S. companies Honeywell UOP and TechnipFMC in a ceremony in Houston. The MOUs are a first step in Motiva’s expansion into petrochemicals. Final investment decisions on these projects are not expected to be made until 2019.
One of the MOUs paves the way to evaluate the use of TechnipFMC’s ethylene production technologies in the U.S. The second MOU enables Motiva to examine the use of UOP’s aromatics extraction and production technologies for benzene and paraxylene for development of a potential complex along the U.S. Gulf Coast.