Saudi Arabian energy and chemicals giant Aramco and Sinopec, one of China’s largest petrochemical producers, have signed an expansion agreement for their joint venture facility in Yanbu , the Yasref refinery. This agreement represents a significant step forward in their long-term strategic collaboration to strengthen Saudi Arabia’s petrochemical infrastructure.
Yasref and its aromatic complex
The project, which is celebrating its tenth anniversary, seeks to transform Yasref into a comprehensive petrochemical production center with the construction of a new steam cracking complex. This unit will have a capacity of 1.8 million tons per year and will be accompanied by a 1.5 million tons per year aromatics complex.
[post_relacionado]With this development, the three companies hope to leverage operational synergies to meet the growing global demand for high-quality petrochemical products.
Innovation at the Yasref petrochemical complex
This agreement reflects the strengthening of our alliance with Sinopec and reaffirms our commitment to diversification and innovation within the petrochemical industry.
Amin H. Nasser, president and CEO of Aramco, highlighted.
For his part, Zhao Dong, president of Sinopec, emphasized that the project will improve refining capacity in the region and also support the energy transition, positioning Saudi Arabia as a global leader in the production of advanced petrochemical products.
This agreement reflects the strong collaboration between Aramco and Sinopec , whose relationship extends beyond Yasref to other joint ventures in China, such as the Fujian refining and petrochemical complex. Both corporations have been instrumental in modernizing the global petrochemical industry , with projects that promote energy security and create economic value worldwide.
A step towards the petrochemical future
The Yasref expansion is a key component of Aramco’s 2030 vision, which includes converting up to four million barrels per day of crude oil into petrochemicals.
The expanded facility will not only strengthen the plant’s capacity to meet internal demands but will also serve as a model for future sustainable industrial initiatives.
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Source and photo: Aramco