Sabic to request preferential export duty in exchange for investments in Russia.

Saudi Basic Industries Corp (Sabic), the largest Saudi Petrochemical Company, would like to invest in Russian industry, related raw natural gas, Vedomosti reported with reference to the minutes of the meeting of the Russian-Saudi Intergovernmental Commission, which was held in late November.

Company interested in both the public and the private sector, the document says. Sabic has asked the Russian side to provide information on possible projects.

"We are ready to consider the commercial agreement on LNG supply with Saudi Arabia," - Energy Minister Alexander Novak stated in late November.

For Russia, the construction of the LNG plant is one of the priorities, and the country is ready to increase gas supplies, including through cooperation with Saudi Arabia.