ExxonMobil and SABIC Agree to Proceed with Gulf Coast Growth Ventures Project
The joint venture between ExxonMobil and SABIC, called Gulf Coast Growth Ventures, received final environmental regulatory approval in June 2019 to build an ethane steam cracker, two polyethylene, units and a monoethylene glycol unit.
ExxonMobil and SABIC recently announced the decision to proceed with the construction of a chemical facility and a 1.8 Mt ethane steam cracker in San Patricio County, Texas. The project is reportedly expected to lead to thousands of high-paying jobs and billions in economic output.
“Building the world’s largest steam cracker, with state-of-the-art technology, on the doorstep of rapidly growing Permian production gives this project significant scale and feedstock advantages,” said Darren W. Woods, chairman and CEO of ExxonMobil. “It is one of several key projects that provide the foundation for significantly increasing the company’s earnings potential.”