Qatar, Chevron to build $6 billion gas-to-plastics plant

Qatar, Chevron to build $6 billion gas-to-plastics plant

QatarEnergy has a 70 per cent equity share in the joint venture with Texas-based Chevron Phillips taking the other 30 per cent

Saad Sherida al-Kaabi (right), Qatar's energy minister and CEO of QatarEnergy, and Bruce Chinn, CEO of Chevron Phillips Chemical company, attend a signing ceremony at the QatarEnergy headquarters in Qatar's capital Doha on January 8, 2023. Qatar signed a $6 billion deal with Chevron Phillips Chemical to build a plant including the biggest ethane cracker in the Middle East, converting natural gas into polyethylene and other plastics. — AFP

By AFP Published: Sun 8 Jan 2023, 4:37 PM

Qatar signed a $6 billion deal with Chevron Phillips Chemical on Sunday to build a plant including the biggest ethane cracker in the Middle East, converting natural gas into polyethylene and other plastics.

The Ras Laffan Petrochemicals Complex, which will produce 2.1 million tonnes of ethylene a year along with 1.7 million tonnes of polyethylene derivatives, will come on stream in 2026.

The complex will have “lower waste and greenhouse gas emissions” than similar facilities around the world, said Saad Sherida Al Kaabi, Qatar’s energy minister and the CEO of QatarEnergy.

QatarEnergy has a 70 per cent equity share in the joint venture with Texas-based Chevron