Monday 5 December 2011

AFP: Qatar, Shell agree to build $6.4 billion petrochem plant

State-owned Qatar Petroleum and Anglo-Dutch oil giant Shell signed Sunday a heads of agreement to build a petrochemical complex in the energy-rich Gulf state valued at $6.4 billion.

Qatari energy minister Mohammed al-Sada and Peter Voser, chief executive officer of Shell signed in Doha the agreement that "sets the scope and commercial principles for the development of a world-scale petrochemicals complex in Ras Laffan Industrial City," a joint statement said.

This agreement follows the conclusion of a joint feasibility study conducted by the two sides, it said, pointing out that Qatar Petroleum will hold an 80 percent equity interest in the project and Shell 20 percent.

No comments:

Post a Comment