Ras Laffan Petrochemical Complex is expected to start production in 2026
Qatar Energy and the US oil company Chevron Philips Chemical Company have signed a US$ 6bn deal for a petrochemical project.
This was announced by the Qatari company in a press statement. The two companies will invest in the Ras Laffan Petrochemicals Complex considered the largest project of its kind in the Middle East. The complex is expected to go into production in 2026.
Ras Laffan will double Qatar’s ethylene production capacity and increase its polymer output from 2.6 million tons to more than four million tons a year. Overall, Qatar’s petrochemical production capacity will rise to almost 14 million tons annually.
“The integrated site also includes two high-density polyethylene derivatives units with a total capacity of 1.7 million tonnes per year,” commented Saad Al Kaabi, the Qatari Energy Minister and CEO, Qatar Energy.
The deal was signed joint by the Qatari Minister and Bruce Chinn, CEO, Chevron Phillips Chemical Company, at the Qatar Energy offices in Doha, Qatar. Under the deal, the complex will be 70 percent owned by Qatar Energy and 30 percent by Chevron Philips.