Saudi Basic Industries Corporation (Sabic) and South Louisiana Methanol secured a six-month deal for the establishment of a chemicals plant in the U.S. The pact was inked while the Saudi company aims to take advantage of the growing output of shale gas within North America. In cooperation with Sabic, South Louisiana Methanol will be exploring the possibility for the construction of a methanol plant which holds production capacity of over 1.8 million metric tonnes per year.