QatarEnergy and Chevron Phillips agree to create a $6 billion petrochemical venture
[ad_1]
The Qatari national oil and gas company QatarEnergy and the American-Dutch corporation Chevron Phillips have signed an agreement to build a petrochemical production facility Ras Laffan Petrochemicals. Its cost is estimated at $6 billion, RIA Novosti reports with reference to the press service of QatarEnergy.
The company said that Ras Laffan Petrochemicals is an integrated enterprise for the production of alkenes and polyethylene in the industrial town of Ras Laffan (80 km northeast of Doha).
Under the agreement, QatarEnergy will own 70% of the company’s shares, and Chevron Phillips – 30%. The launch of the Ras Laffan Petrochemicals complex is expected in 2026. It includes an ethane cracker with a capacity of 2.1 million tons of ethylene per year and two polyethylene lines with a combined capacity of 1.7 million tons of high-density polyethylene polymer products per year. This will increase Qatar’s total petrochemical production capacity to almost 14 million tons per year.
[ad_2]
Source link
