Saudi Arabia, UAE, Kuwait to lead global ‘mega’ petchems projects - CEO of Arab Petroleum Investments Corp.
17 December 2021, 12:00 AM
31 December 2021, 12:00 AM
Saudi Arabia, UAE and Kuwait will lead the Middle East with new “mega” petrochemicals projects after a recent slowdown, the CEO of Arab Petroleum Investments Corp, known as APICORP, told S&P Global Platts on Thursday.
Most of the mega projects have ended and there is a new cycle now, Ahmed Ali Attiga said on the sidelines of the Gulf Petrochemicals and Chemicals Association meeting in Dubai.
“Saudi Arabia has huge plans” while “Kuwait is trying to strengthen their petrochem industry downstream, UAE will also be part of the new projects”, Attiga said.
The petrochemical sector will see an evolution in the next phase toward more investments, with the Middle East remaining the main source for the crude oil and natural gas feedstocks of the industry, Attiga told the conference.