Plans afoot for new facility to produce low-carbon chemicals, says Saudi energy minister
The Saudi energy minister, Prince Abdulaziz bin Salman, has revealed plans to construct a carbon dioxide utilization hub that will produce low-carbon chemicals. Speaking at the 17th Annual Gulf Petrochemicals and Chemicals Association Forum in Qatar, Prince Abdulaziz emphasized the significant role of the petrochemical industry in combating climate change and reducing greenhouse gas emissions.
The forum, titled “Using chemistry to achieve impactful transformation,” brought together industry leaders who advocated for the adoption of sustainable practices in the oil and gas sector. Prince Abdulaziz affirmed Saudi Arabia’s commitment to preserving cultural heritage while embracing positive changes.
The carbon utilization hub is envisioned to maximize the value of carbon dioxide and contribute to the Kingdom’s clean energy economy by enabling the development of new green industries. The minister also expressed pride in Saudi Arabia’s achievement of converting plastic waste-derived oil into certified circular polymers, a first in the Middle East and North Africa.
Prince Abdulaziz announced plans for at least four projects to be launched in the coming years, with a particular focus on liquid-to-chemical processes. The CEO of SABIC, Abdulrahman Al-Fageeh, highlighted the forum’s journey as a testament to combining entrepreneurial spirit with industry knowledge passed down through generations.
Saad Sherida Al-Kaabi, CEO of Qatar Petroleum, emphasized the need for a meaningful and realistic transition, urging a common understanding of achievable goals. Al-Kaabi identified three essential areas for progress: increased investment in energy efficiency and low carbon innovation, coordinated political commitment, and raising awareness of the chemical industry’s role in improving lives globally.
The GPCA represents the downstream hydrocarbon industry in the Arabian Gulf and supports over 250 member companies from the chemical and allied industries. With the second-largest manufacturing sector in the region, the industry produces over $108 billion worth of products annually. The association aims to advance the region’s petrochemical and chemical industry through advocacy, networking, and thought leadership initiatives.