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QatarEnergy and Chevron Phillips Chemical Make a $6 Billion FID for the Ras Laffan Petrochemical Complex in Qatar

In early January 2023, QatarEnergy announced that it had made a Final Investment Decision alongside Chevron Phillips Chemical (CPChem) to build the Ras Laffan Petrochemicals Complex in Qatar for $6 billion dollars. QatarEnergy stated that this is the largest petrochemical investment in Qatar that they have ever made.

The Ras Laffan Petrochemical Complex is being developed to produce 2.1 million tons of ethylene annually in 2026, along with 1.7 million tons annually of high-density polyethylene (HDPE) through twin HDPE units. Qatar Energy Minister Saad Sherida Al-Kaabi stated that “This marks QatarEnergy’s largest investment ever in Qatar’s petrochemicals sector and the first direct investment in 12 years. It will double our ethylene production capacity and increase our local polymer production from 2.6 to more than 4 million tons per annum and place the utmost emphasis on sustainable growth and the environment.”

QatarEnergy also announced that it had awarded an engineering, procurement, and construction (EPC) contract for the ethylene plant to SCJV, which is a joint venture company between Samsung Engineering Company and CTCI. The associated 1.7 million ton per year Ras Laffan HDPE project has added Maire Tecnimont of Italy as its EPC contractor.

This complex will have QatarEnergy holding a 70% equity share, while CPChem will hold the remaining 30%. This FID announcement for this significant petrochemical project follows the late 2022 announcement from these partners around the $8.5 billion-dollar Golden Triangle Polymers project to be placed in Texas, as the two companies have continued to invest in petrochemical production moving forward.

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