Since Aramco acquired a majority stake in Sabic in June 2020, the latter has achieved a synergy value of $468 million. By 2025, this is expected to further increase to between $1.5 billion and $1.8 billion.

This is part of a broader long-term strategy, where Sabic will explore opportunities to further capture value through growth projects optimisation, joint venture management and a one service delivery model.

Petrochemicals is Sabic’s largest strategic business unit with supplies going all over the world. In 2021, revenues from petrochemicals and specialties saw a 49 per cent increase or SR149.9 billion.

It is understandable that Sabic will increase focus on petrochemical products in 2022, a move that will enable increased operational efficiency, create synergies, and strengthen the brand.

Sabic’s United EO/EG-III project in Jubail is expected to start operations this year and will produce 700,000 metric tonnes of glycols.

Its GAS 9 expansion project, also in Jubail, has been completed. This will increase oxygen production capacity by 3,600 tonnes per day (TPD) and nitrogen by 3,500 TPD for industries in Jubail Industrial City.

Meanwhile, Gulf Coast Growth Ventures, Sabic’s joint venture with ExxonMobil in Texas, US, is expected to begin operations in 2022.

It includes an ethylene production unit with an annual capacity of 1.8 million tons, which will feed two polyethylene units with annual capacity of about 1.3 million tons and a monoethylene glycol unit with annual capacity of about 1.1 million tons.

As the home of Sabic’s unique offerings, the Specialties business aims to become one of the top players in the ‘Multi-Segment Premium’ specialty chemicals segment.

The company’s innovative portfolio of solutions is aligned with transformational trends and its global presence and close relationships with original equipment manufacturers (OEMs) means that Sabic offers a strong geographical competitive advantage over competitors who are generally regionally focused.

The company expects the Ultem™ resin capacity expansion in Singapore and the restarting of the Noryl™ resin plant in the Netherlands to go live in 2022.

And while Sabic drives ahead with its plans, it’s mindful of its responsibilities to the environment.

In 2021, it unveiled its Carbon Neutrality Roadmap, which sets out a strategy to decarbonise its operations by 2050 in line with the goals of the Paris Agreement.

The roadmap identifies five pathways: reliability, energy efficiency and improvements; renewable energy; electrification; carbon capture; and green/blue hydrogen.

So as Sabic looks to 2050, it will continue developing capabilities that enable us to pursue profitable growth while following through on ESG imperatives.