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22-01-14

SABIC to enter US shale gas industry

(MENAFN) Saudi Basic Industries (SABIC) is discussing investing in the US shale gas industry with firms in the country, Arabian Business reported. SABIC chief executive said: "We're currently in talks with a few big names in the US for investment in shale gas. We expect to enter the market sometime this year. This will be great for SABIC and will globalize our operations." he said. Investments would not be heavy in the initial stages, as the company has no urgent funding needs so SABIC's taping into the market this year is unlikely, the chief executive said.