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Qatar Petroleum and Chevron Phillips team up for major petrochemical complex

25/06/2019
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Chevron Phillips Chemicals and Qatar Petroleum have this week announced a new partnership to pursue the development, construction and operation of a major petrochemicals complex in Qatar to produce ethylene and high-density polyethylene (HDPE). The complex will be situated in the Ras Laffan Industrial City and early indications suggest it will feature a 1,900 KTA ethane cracker and two high-density polyethylene derivative units.
Mark E Lashier and Saad Sherida Al-Kaabi sign a joint agreement to develop a major petrochemicals complex in Qatar
(Mark E. Lashier, President & CEO of Chevron Phillips Chemical and Mr. Saad Sherida Al-Kaabi, President & CEO of Qatar Petroleum sign the agreement to jointly develop a major new petrochemical complex in Qatar. Image via Chevron Phillips Chemical).

The project highlights how Middle East oil and gas companies increasingly see their future in the downstream and petrochemicals space as they seek new markets and income beyond crude oil and natural gas production.

Commenting at the signing ceremony, Mr. Saad Sherida Al-Kaabi, President and CEO of Qatar Petroleum, 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.

Chevron Phillips Chemical will provide project management, engineering and construction services to develop the project. As part of the development phase, the two companies will study the potential efficiencies that could be realised by harnessing the existing capabilities of the Qatar Chemical Company (Q-Chem) joint ventures to provide overall operational management of the facility once complete.
Qatar Petroleum and Chevron Phillips team up for major petrochemical complex
“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 Mark E. Lashier, President & CEO of Chevron Phillips Chemical. “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 begin shortly, leading to a planned start-up in late 2025.

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Qatar Petroleum and Chevron Phillips team up for major petrochemical complex - Time to read 3 min
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