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Qatar teams up with Chevron Phillips for petrochemical project

June 25/2019

MOSCOW (MRC) -- Qatar Petroleum has signed an agreement with Chevron Phillips Chemical to build a new petrochemicals complex, part of plans by the worlds top liquefied natural gas (LNG) exporter to broaden its energy interests, said Reuters.

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.

Saudi Arabias and UAEs national oil companies have both already announced plans to boost their refining capacity and petrochemicals operations.

Qatar is one of the most influential players in the LNG market due to its annual production of about 77 million tonnes, which is expected to grow about 43 percent by 2024 from a major expansion to the countrys North Field, the worlds largest natural gas field, which it shares with Iran.

The new petrochemical plant will be built north of Doha in Ras Laffan Industrial City and will come online by 2025 and tap the increased North Field production for feedstock, Qatar Petroleum CEO Saad al-Kaabi told a news conference.
Author:Anna Larionova
Tags:PE, ethylene, Chevron, Chevron Phillips.
Category:General News
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