The Strategist

QatarEnergy and Chevron Philips to build large petrochemical plant

01/09/2023 - 09:08

The six billion dollar project will be built in partnership by Qatar's state oil and gas business QatarEnergy and the American-Dutch company Chevron Phillips, according to QatarEnergy's press office.

In order to construct the Ras Laffan Petrochemicals complex, a $6 billion integrated alkenes and polyethylene production plant in the industrial town of Ras Laffan, Qatar Energy announced a final investment decision with Chevron Phillips Chemical Company (CPChem).

The project's joint venture agreement was inked on Sunday, with QatarEnergy holding a 70% stake and CPCchem holding a 30% stake.

The Ras Laffan Petrochemicals complex, which is scheduled to begin operating in 2026, will include two polyethylene lines with a combined capacity of 1.7 million tons of high density polymer products annually, making it the largest in the Middle East, and an ethane cracker with an annual capacity of 2.1 million tons of ethylene, making it the largest in the region. This will bring Qatar's total petrochemical production capacity to nearly 14 million tons per year.



< >

Friday, May 24th 2024 - 03:13 UK watchdogs fine Citigroup £61.6 mln

Friday, May 17th 2024 - 03:04 Walmart more than triples quarterly net profit