Saudi Aramco SATORP & Chemanol Secure 20-Year Deal
Saudi Aramco Total Refining and Petrochemical Company (SATORP), a joint venture between Saudi Aramco and TotalEnergies, has announced a 20-year deal with Chemanol, a Saudi Methanol Chemicals company.
The agreement establishes Chemanol as the annual supplier of 100,000 metric tonnes of methanol for SATORP’s Amiral project.
The Amiral project
The Amiral project is a Petrochemical complex located in Jubail on the east coast of Saudi Arabia. The complex is designed to develop modern and efficient methods of refining and developing petrochemicals.
In the complex, there are units for extracting aromatics and butadiene along with producing high-value-added derivatives.
It also features a mixed-load steam cracker capable of processing different grades of low-cost feedstocks and producing 1.65 million tons of ethylene per year.
Both Saudi Aramco and TotalEnergies made their decision to finalise investment in the complex in 2022.
The complex is in alignment with both Saudi Aramco and TotalEnergies' strategies to sustainably develop petrochemicals, synergising platforms across growth markets.
Expanding an ongoing partnership
Saudi Aramco is a state-owned petroleum and natural gas manufacturer and the official national oil company of Saudi Arabia.
Headquartered in Dhahran, Saudi Aramco is the second-largest company in the world by revenue, with profits in 2022 higher than those of Apple, Exxon, and Microsoft combined.
“Our long-standing relationship with TotalEnergies has been further strengthened by this important project, which represents an opportunity for us to showcase the potential for cutting edge liquids to chemicals technologies that support the circular economy." comments Aramco President & CEO, Amin H. Nasser.
"With this collaboration we aim to expand the value chain by producing advanced chemicals more efficiently than ever before, accelerating industrial progress in the Kingdom.”
TotalEnergies SE is a leading petroleum and energy provider founded in 1924 that produces and markets natural gas, green gases, renewables, oil and biofuels.
The agreement with Chemanol furthers this partnership between both companies as they wait for supply to start in 2027.
"We are delighted to write a new page of our joint history by launching this expansion project, building on the successful development of SATORP, our biggest and most efficient refining and petrochemicals platform in the world." says Patrick Pouyanné, TotalEnergies Chairman and CEO.
"It also deepens the exemplary relationship between our two companies over many decades in the Kingdom of Saudi Arabia.
"This world-class complex also fits with our strategy to expand sustainably in petrochemicals by maximizing the synergies within our major platforms.”
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