Saudi company looks to invest in U.S. shale gas projects

Saudi Basic Industries Corp., the world’s second largest chemical manufacturer, plans to expand investment in U.S. shale gas projects through joint ventures, reports Bloomberg News. The news service says that Sabic, as the company is known, has signed an agreement with Houston-based Enterprise Products Partners L.P. to acquire natural gas in the United States. The Saudi company may use the gas for feedstock in chemical manufacturing or export it to other countries such as the United Kingdom. For more, read the full story.