TECHNIP: A NEW CONTRACT FOR A MAJOR STEAMCRACKER IN QATAR

Technip has signed a Letter of Intent with Qatar Petroleum, ChevronPhillips Chemical Company LLC, Qatar Petrochemical Company and Total Petrochemicals in view to execute an engineering, procurement and construction (EPC) contract worth above 800 million US$ for the realization of an ethylene cracker located at Ras Laffan in Qatar.

This plant, with a capacity of 1.3 million tones per annum, will be one of the most important production crackers to be built in the world. The cracker will provide ethylene feedstock to two derivative units (polyethylene and normal alpha olefins) to be built in Mesaieed, Qatar. The project will be carried out on a lump sum turn key basis and is scheduled for completion in 2008.