Motiva signs MOUs with TechnipFMC and Honeywell UOP to enable multi-billion-dollar petrochemical investments
HOUSTON – April 7, 2018 -- Motiva Enterprises LLC signed Memorandums of Understanding (MOUs) with TechnipFMC and Honeywell UOP, respectively, to study potential petrochemical projects utilizing each companies’ technology. If executed, the projects represent multi-billion-dollar investments in the U.S. The signing ceremony coincided with the official visit to the United States by HRH 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 today paves the way to evaluate the use of TechnipFMC’s world scale 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.
Headquartered in Houston, Texas, Motiva refines, distributes and markets petroleum products throughout the United States. Motiva owns and operates North America’s largest refinery in Port Arthur, Texas with a crude capacity of 630,000 barrels a day. The company also operates the country’s largest lubricant plant. Under exclusive, long-term brand licenses for the Shell and 76® brands, Motiva’s marketing operations support more than 5,000 retail gasoline stations. Motiva is wholly-owned by affiliates of Saudi Aramco. www.motiva.com