AL Naimi: Kingdom produces 62% of GCC Chemicals & 8% of global production

Dubai, December 09, 2009, SPA -- Eng. Ali Al Naimi, The Minster of Petroleum and
Mineral Resources said that Saudi Arabia currently produces about 62% of the GCC
chemicals and about 8% of global production.


In a keynote address to the Gulf Petrochemicals and Chemicals Association Forum,
currently held in Dubai, UAE Al-Naimi said "We see the future of the chemical
industry evolving so that local producers foster further investment and creation of
knowledge in many different sectors. I can offer a few observations about the
future situation from a Saudi Arabian viewpoint. Our own national approach involves
linkages between refining and chemical industries both inside and outside the
Kingdom"
.


"In the coming years, Saudi Arabia is poised for increases in the quantity and
quality of our exports. We will diversify our chemical portfolio into more
complex, distinctive products such as specialty chemicals and engineering
thermoplastics."


"Saudi Arabia is already the world’s largest methanol producer and the second
largest ethylene producer. By 2015, the Kingdom’s petrochemical production is
projected to increase from today’s levels of about 60 million tons per year to
more than 80 million tons per year" he added.


Following is the full Speech entitled "The Petrochemical Industry, Strengthening
the Saudi and Gulf Economies."

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