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.
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. Qatar, one of the world's top producers of liquified natural gas , will see its ethylene production capacity double on the back of the new complex. Local polymer production will also increase from 2.6 million to 4 million tonnes per annum.
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QatarEnergy, Chevron Phillips sign agreement for $6 bln Ras Laffan PetrochemicalsQatarEnergy chief Saad al-Kaabi announced on Sunday the final investment decision on the $6 billion Ras Laffan Petrochemicals Complex alongside its partner in the project Chevron Pillips Chemical.
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