QP & ExxonMobil to build US$6bn petrochem plant

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Qatar Petroleum (QP) and ExxonMobil Chemical Qatar Ltd have announced that they have signed an agreement to progress the joint development of a world-scale petrochemical complex in Ras Laffan Industrial City, Qatar, with an estimated budget of US$6 billion.

In a statement released to the press the two companies said that the proposed complex would include the world's largest steam cracker and polyethylene plants, and one of the world's largest ethylene glycol plants.

"Teams from Qatar Petroleum and ExxonMobil have worked together to develop a leading-edge project that will meet the growing global demand for petrochemical products," Steve Pryor, president, ExxonMobil Chemical Company said.

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The proposed petrochemical complex would include a 1.6 MTA steam cracker, two 650 KTA gas phase polyethylene plants, and a 700 KTA ethylene glycol plant.

“The project will employ ExxonMobil's proprietary steam cracking and polyethylene process, and product technologies,” the statement said.

“It will utilize feedstock from gas development projects in Qatar's North Field and produce a range of premium products to serve global petrochemical demand, with a particular focus on the growing Asia markets,” it added.

Start-up of the proposed facility is estimated in late 2015.

ExxonMobil is the biggest foreign investor in Qatar.