Chevron Phillips Chemical & QP Sign Agreement to Develop Petrochemical Complex in Qatar

Source: www.gulfoilandgas.com 6/24/2019, Location: Middle East

Chevron Phillips Chemical Company LLC and Qatar Petroleum (QP) announced the signing of an agreement to pursue the development, construction and operation of a petrochemicals complex in Qatar to produce ethylene and high-density polyethylene (HDPE). The facility will be developed and constructed in Ras Laffan Industrial City and is expected to have a 1,900 KTA ethane cracker and two high-density polyethylene derivative units with a combined capacity of 1,680 KTA.

Signing of the project agreement documents occurred earlier this morning in Doha by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and the President & CEO of Qatar Petroleum, and Mark E. Lashier, President & CEO of Chevron Phillips Chemical.

Speaking at a press conference held on the sidelines of the signing ceremony, His Excellency Mr. Saad Sherida Al-Kaabi said, “The conclusion of these agreements constitutes an important milestone for Qatar Petroleum as petrochemicals represent a major pillar of our growth strategy to achieve our vision of becoming one of the best national oil and gas companies in the world.”

Qatar Petroleum will own a 70 percent majority share of the joint venture and Chevron Phillips Chemical will own the remaining 30 percent.

In addition to the exclusive licensing of its MarTECH™ loop slurry process for manufacturing HDPE, Chevron Phillips Chemical will provide project management, engineering and construction services to develop the project. As part of the development phase, the companies will study the potential efficiencies that could be realized by harnessing the existing capabilities of the Qatar Chemical Company (Q-Chem) joint ventures to provide overall operational management of the facility once complete.

“Developing this project is a tremendous opportunity for our company to expand on our highly-successful joint ventures with the State of Qatar to meet the growing global demand for petrochemical products that enrich lives around the world,” said Lashier. “Qatar is one of the world’s leading producers of the natural gas liquids that will fuel these world-scale assets. This project fits perfectly with our global strategy to build petrochemical assets in regions of the world where feedstock options are abundant and competitively-priced.

“We look forward to building on our strong relationship with Qatar Petroleum and believe that these new world-scale assets will deliver exceptional value,” concluded Lashier.

The engineering design phase of the project should commence shortly, leading to a planned start-up in late 2025.


France >>  6/21/2022 - Global Bioenergies has received its first order from Shell, to provide volumes of bio-isobutene derivatives for performance assessment.

...

Australia >>  6/20/2022 - The Australian Sustainable Aviation Fuel Partnership was signed by Qantas Group CEO Alan Joyce and Airbus CEO Guillaume Faury in Doha yesterday, ahead...

Finland >>  6/8/2022 - Auramarine Ltd, the leading fuel supply systems pioneer for the marine, process and power industries, has invested in the development of one of the in...
Belgium >>  6/7/2022 - Chevron Phillips Chemical (“CPChem”) announced plans to expand its polyalphaolefins (PAO) business with the construction of a new unit in Beringen, Be...

Egypt >>  6/6/2022 - Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, met with a number of petroleum industry leaders as part of the system of securin...
China >>  6/2/2022 - the Fuze Anna tanker, which was loaded with 35,000 tons of No. 92 motor gasoline from Daqing Petrochemical Company, slowly sailed out of Dalian New Po...

Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Grout  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Summer Diesel  Surfactants 

Related Articles: Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Surfactants 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.