25 Jun – Qatar Petroleum inks deal with CP Chem for new petchem complex
According to a press release, Qatar Petroleum and Chevron Phillips Chemical Company (CP Chem) have signed an agreement to jointly develop a new petrochemical complex in Ras Laffan Industrial City, Qatar.
The proposed complex is expected to include a 1.9 million tons/year ethane cracker and two HDPE units with a combined capacity of 1.68 million tons/year.
As part of the agreement, Qatar Petroleum will have a 70% majority ownership of the joint venture while CP Chem will own the remaining 30% stake.
The engineering design phase of the project is expected to start soon, with start-up scheduled for late 2025.