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Qatar aims to double its gas-derived petrochemical output by 2020

April 06/2012

(downstreamtoday) -- After focusing on LNG and GTL, Qatar is now aiming to spend USD25 billion to double its gas-derived petrochemical output by 2020

Qatar's giant gas reserves have transformed the fortunes of the small Arabian peninsula state. The country has, by some metrics already become the richest place on earth.

Having mastered the upstream business, attentions are now being turned to its downstream dreams, a logical next step to further monetise its hydrocarbon riches, and diversify its economy beyond the cash-for-gas model.

"In the hydrocarbon area, we are now focusing on petrochemicals," says Abdulrahman al-Shaibi, managing director of the Qatar Financial Centre Authority. "We will spend USD25 billion on creating additional petrochemical industries as an important feedstock for small and medium-sized companies," al-Shaibi adds.

As part of its ambitious petrochemical programme, Qatar aims to further expand its throughput by 2020. "We aim to more than double our annual petrochemical production capacity from currrent 9.2 million tonnes to 23 million tonnes by 2020," says Mohammed bin Saleh al-Sada, minister of energy and industry, managing director and chairman of the board of Qatar Petroleum (QP).
Author:Anna Larionova
Category:General News
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