The U.S’s gas boom is both a threat and an opportunity, the head of Saudi Basic Industries Corporation (Sabic), one of the world’s top petrochemical companies, told CNBC.

Speaking from the World Economic Forum in Jordan, CEO Mohamed Al-Mady said the uptick in shale gas production in the U.S. would provide “more severe competition” for Riyadh-based Sabic.

“It is a threat of course, because they will export their product,” he said, but added that his company could invest in U.S. shale gas.

Read the rest of this article on CNBC’s website.

More from CNBC:

US Energy Boom is Great, Unless You’re the Saudis http://www.cnbc.com/id/100739228

Oil, Dollar May Start New Relationship http://www.cnbc.com/id/100764681

Demand for Petrochemicals is Weak http://video.cnbc.com/gallery/?play=1&video=3000171319