Sunday, 8 January 2023

#Qatar Energy, Chevron Phillips ink $6 billion Ras Laffan Petrochemicals deal | Reuters

QatarEnergy, Chevron Phillips ink $6 billion Ras Laffan Petrochemicals deal | Reuters

QatarEnergy announced on Sunday the final investment decision on the $6 billion Ras Laffan Petrochemicals Complex with partner Chevron Pillips Chemical which is expected to be the largest of its kind in the Middle East.

The complex, expected to begin production in 2026, includes an ethane cracker with a capacity of 2.1 million tonnes of ethylene per year.

The integrated compelx will also include two high density polyethylene derivative units with a total proudction capacity of 1.7 million tonnes per year, QatarEnergy chief Saad al-Kaabi Kaabi said.

Originally announced in 2019, the project highlights how Middle East oil producers are expanding further into petrochemicals, used in the production of plastics and packaging materials, to move into new markets and find new sources of income beyond exporting crude oil and natural gas.

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