Saudi Basic Industries Corp. (Sabic) is halting plans to develop a $5.3 billion methanol complex in the Caribbean nation of Trinidad and Tobago, a report said. Sabic decided not to continue with negotiations for the complex after the \"relevant parties did not reach a deal on the fundamental conditions for this project\", the Saudi gazette report said quoting a Sabic statement The project was expected to be a partnership with Sinopec Corp., one of China’s three major state-owned oil companies. TradeArabia News