Saudi Basic Industries Corporation (SABIC) has held talks with British officials about investing some $344.4 million to restart a hydrocarbon cracker in Teesside, according to the British newspaper The Telegraph. Al-Arabiya.net reviewed it.
The aim of the plan is to restart the cracker and convert it to run on hydrogen, the newspaper said.
According to Arab Net, the talks about restarting the unit, which has been shut down for nearly a year, come as part of broader trade talks between Saudi Trade Minister Majid al-Qasabi and his British counterpart Kwasi Quarting. over the past week.
These talks also come after identifying a number of areas of cooperation between the Kingdom of Saudi Arabia and the United Kingdom in the field of energy, following the meeting of the Saudi Minister of Energy, Prince Abdulaziz bin Salman, and the British Minister for Business, Energy and Industrial Strategy, Kwasi Quarting, last May.
The two ministers identified a number of energy cooperation areas under the circular carbon economy, including: carbon capture, use and storage, hydrogen, clean fuels, direct air capture and renewables.
