Reuters: Saudi's SABIC signs deal to use U.S. shale gas at British plant

Saudi Basic Industries Corp has signed a deal to use shale gas from the United States at its Teesside petrochemical plant in Britain, acting chief executive Yousef Abdullah al-Benyan told Reuters on Sunday.

"In fact we did sign the contract - we have not yet agreed with the supplier to publicly announce it, but we did firm up a contract for gas supply," Benyan said, declining to name the supplier.

He said the timing and other details of the project, which he described as the first use of shale gas exported from the U.S. Gulf in Britain, should be available by next quarter.

"It is going to meet our full demand for the next ten years and is renewable beyond ten years," Benyan said.

Read the full article HERE