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QP, Zeon & Mitsui Sign MOU for New Elastomer Project

Source: www.gulfoilandgas.com 12/8/2013, Location: Middle East

Qatar Petroleum (QP) and two Japanese companies, namely Zeon Corporation and Mitsui & Co. Ltd., signed a memorandum of understanding (MOU) for the development of an integrated butadiene extraction and elastomer complex in Ras Laffan Industrial City.

The MOU was signed by His Excellency Dr. Mohammed bin Saleh Al-Sada, Minister of Energy and Industry and Chairman & Managing Director of QP; Mr. Yoshimasa Fushimi, Director & Executive Corporate Officer of Zeon Corporation; and Mr. Seiichi Tanaka, Representative Director & Executive Vice President of Mitsui & Co., Ltd.

Under the agreement, the partners will be undertaking a detailed feasibility study to evaluate the technical, commercial and economic aspects of the integrated world scale butadiene and synthetic rubber/elastomer project.

The feedstock will come from the planned Al-Sejeel Petrochemicals Complex and the Al-Karaana Petrochemicals Complex, both of which are currently under development, as well as from the existing plant of Ras Laffan Olefins Company (RLOC). The butadiene will be extracted from feedstock and then converted into high-value elastomers like styrene-butadiene rubber (SBR) and polybutadiene rubber (PBR) using Zeonís state-of-the-art technology.

H.E. Dr. Mohammed bin Saleh Al-Sada, Minister of Energy and Industry, expressed his pleasure at the signing of the MoU, describing it as "an important step that adds value to Qatarís natural resources, and creates future value chain opportunities."

H.E. Dr. Al-Sada said: "The elastomers from this project will create new opportunities to develop small and medium scale enterprises and private industries in the downstream sector, as well as other automobile related industries."

"I am confident that, together with our Japanese partners, we would be able to meet the highest industrial standards, enhance value for feedstock streams, and successfully complete the study for developing the project," His Excellency concluded.

Mr. Yoshimasa Fushimi, Director & Executive Corporate Officer of Zeon Corporation, said: "Zeon hopes and believes that the introduction of a synthetic rubber industry using our technology will contribute to Qatarís development of related downstream industry and lead to the further strengthening of the great partnership between Qatar and Japan. After this ceremony, Zeon will make our maximum effort jointly with Mr. Al-Hajri and his team for the feasibility study toward the success of the project.'

Mr. Seiichi Tanaka, Representative Director & Executive Vice President of Mitsui & Co, Ltd., said: "Ever since our equity participation in the Qatargas 1 LNG project back in 1989, Mitsui has been enjoying an excellent relationship with QP as partners in the Qatargas 3 LNG project in 2005, the Laffan Refinery and its latest expansion, as well as the Ras Laffan C IWPP project. Mitsui will continue to contribute further to the strong relationship with the State of Qatar and undertake its best performance in its contribution to the study. This butadiene and synthetic rubber project has the strong potential to be the first business opportunity in Qatarís petrochemical sector and will enhance the value of your esteemed countryís natural gas resources."

Mr. Mohammed Nasser Al-Hajri, Director of Downstream Ventures at QP, said: "We at Qatar Petroleum look forward to closely work with our Japanese partners to further evaluate this business opportunity and develop the project as part of our sustained efforts to optimally enhance the State of Qatarís downstream business and product portfolio."

For more information about related Opportunities and Key Players visit Qatar Oil and Gas Projects

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