SABIC to enter North American shale gas projects in 2015: CEO

Saudi Arabian Basic Industries (SABIC) plans to take advantage of the shale gas revolution by participating in a series of projects in North America at the beginning of next year, said chief executive Mohamed Al-Mady.

The announcement of these projects will be disclosed in coordination with Saudi's Capital Market Authority, Al-Mady was quoted as saying in Asharq Al-Awsat newspaper.

Al-Mady said he sees the recent drop in oil prices as a challenge for companies to diversify their products and ideas. He said the company should establish a plant in North America, if shale gas is available.