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Saudi-listed Methanol Chemicals Company (Chemanol) has secured a 20-year deal with Saudi Aramco Total Refining and Petrochemical Company (SATORP), a joint venture between Saudi Aramco and TotalEnergies.
The agreement covers the supply of 100,000 metric tonnes of methanol annually for SATORP’s Amiral project.
The supply will start by the end of 2027, but the petrochemical firm is unable to share the financial impact of the deal.
“The financial impact of this agreement is currently indeterminable due to the changes in market conditions and product prices at the time of starting to supply the methanol,” Chemanol said.
“[The company] will announce later any developments or updates in this regard.”
The Amiral complex is an $11 billion petrochemicals facility expansion at the SATORP refinery in Saudi Arabia.
The site is expected to house one of the largest mixed-load steam crackers in the GCC, with an annual capacity to produce 1,650 kilotons of ethylene and other industrial gases.
(Writing by Cleofe Maceda; editing by Seban Scaria)
