INEOS announces $2bn chemicals investment in Saudi Arabia

Operated by Qinghai Hengxinrong Lithium Tech, West Taijinaier 1 is a lithium brine operation located in Qinghai province, China. West Taijinaier Salt Lake is a magnesium sulphate sub-type salt lake. Using purchased tail brine from CITIC Guoan, Hengxinrong produces technical grade lithium carbonate via membrane technology. The operation also has the ability to produce lithium phosphate. Wood Mackenzie’s asset reports are built from the bottom up, incorporating several granular data metrics to ultimately produce our industry-standard cash operating costs. This report contains a detailed asset note giving you a holistic view of the asset, including an operational overview through to a timeline of events from inception to now. This qualitative analysis is supplemented by the associated Excel download which enables interrogation of a whole series of cost and production metrics over the life of the asset.

Saudi Arabia is a large exporter of LPG and naphtha primarily driven by large contributions from non-refinery supply sources. Middle distillates are also surplus as a number of large-scale, export-orientated, refineries have completed in the past few years. We expect the third greenfield refinery, Jazan, to come onstream during Q4 2019. Gasoline remains balanced as strong domestic demand matches additional supply.