Qatar Petroleum and Chevron Phillips Chemical Company will develop and construct a new petrochemicals complex in Ras Laffan Industrial City.
The new complex will have an ethane cracker with a nameplate capacity of 1.9 million tonnes of ethylene per annum, making it the largest ethane cracker in the Middle East and one of the largest in the world. It will also include two high-density polyethylene derivative units, which will raise Qatar's current polyethylene production capacity by 82% by the fourth quarter of 2025.
A new joint venture company has been established, with Qatar Petroleum owning a 70% interest and Chevron Phillips Chemical Company owning a 30% interest.
His Excellency Saad Sherida Al-Kaabi says: 'This project will optimise the utilisation of ethane produced projects. It will also consolidate Qatar's position among the world's leading petrochemicals producers and complement our efforts to further expand our footprint in the global petrochemicals market.
'This major project will provide excellent opportunities for Qatar's private sector to contribute to the development of our oil and gas sector and will generate significant revenues that will support the further development of our economy and the well-being of all people living in Qatar.'
The engineering design of the project should start shortly, with a planned start-up in late 2025.
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