Saudi petroleum giant Aramco and its partners in a joint venture being formed to operate a power plant integrated with the Jazan refinery – US industrial gases firm Air Products and Saudi private energy developer Acwa Power – have yet to complete negotiations over project financing.
With discussions continuing, the timing of the integrated facility’s start-up is uncertain, although in a bond prospectus released this week (MEES, 20 November) Saudi Aramco said that Jazan “is expected to be ready for full operations in the first half of 2021.” This tallies with CEO Amin Nasser’s statement in August that the 400,000 b/d refinery would start processing crude in 1Q21 at an initial rate of 200,000 b/d before ramping up to full capacity (MEES, 14 August). (CONTINUED - 841 WORDS)
