Motiva Enterprises LLC has signed Memorandums of Understanding (MOUs) with TechnipFMC and Honeywell UOP, respectively, to study potential petrochemical projects utilizing each company's technology. If executed, the projects represent multibillion-dollar investments in the U.S. The signing ceremony coincided with the official visit to the U.S. by His Royal Highness Crown Prince Mohammed bin Salman.
"These agreements signal our plans for expansion into petrochemicals," said Brian Coffman, president and CEO of Motiva. "We are excited to work more closely with these leaders in the industry to further assess our opportunities for investment."
One of the MOUs signed paves the way to evaluate the use of TechnipFMC's worldscale mixed-feed ethylene production technologies in the U.S. The second MOU enables Motiva to examine the use of Honeywell UOP's world-scale aromatics extraction and production technologies for benzene and paraxylene for development of a potential complex along the U.S. Gulf Coast.
The MOUs are a first step in Motiva's expansion into petrochemicals. Final investment decisions on these projects are not expected to be made until 2019 and are dependent on strong economics, competitive incentives and regulatory support.
Motiva owns and operates North America's largest refinery in Port Arthur, Texas, with a crude capacity of 630,000 barrels a day. It also operates the country's largest lubricant plant.
For more information, visit www.motiva.com or call (832) 337-2000.