Italian giant, Eni, and Saudi Basic Industries corporation (Sabic) inked a joint development agreement to develop an innovative technology for natural gas conversion, Trade Arabia reported.

The agreement was signed by Fahad Al-Sherehy, Acting Executive Vice President Technology and Innovation at Sabic, Giuseppe Tannoia, Executive Vice President Research and Development at Eni, and Giacomo Rispoli, Executive Vice President Licensing and Supply at Eni.

The cooperation between the two companies involves establishing a plant, that will be built and operated inside Eni’s industrial premises, to develop the technology.

Using this technology, natural gas will be converted into synthesis gas which can be turned into high value fuels and chemicals.

The joint technology represents an advanced way of making synthesis gas and integration into high value applications to achieve lower capex and opex, higher energy efficiency, lower CO2 footprint, and wide feedstock flexibility.