QP & Chevron JV for 1.3mn mt ethylene cracker plant
17 Nov '05
3 min read
Qatar Petroleum (QP) and olefins producer Chevron Phillips Chemical Company LLC (Chevron Phillips Chemical) announced that project approvals have been obtained and financial closing occurred for the Q-Chem II Project.
The Q-Chem II Project includes ownership of a new 350,000 metric-ton-per-year (770 million-pound-per-year) polyethylene plant and a 345,000 metric-ton-per-year (760 million-pound-per-year) normal alpha olefins plant to be built on a site adjacent to the existing Q-Chem I complex in Mesaieed, Qatar.
Both new plants in the Q-Chem II complex will utilize Chevron Phillips Chemical's proprietary technologies for the production of polyethylene and normal alpha olefins.
Additionally, the Q-Chem II Project includes a joint venture to develop a 1.3 million metric-ton-per-year (2.9 billion-pound-per-year) ethylene cracker in Ras Laffan Industrial City. Q-Chem II will have 53.85 percent capacity share of the ethylene cracker.
The remaining capacity share of the ethylene cracker will be owned by Qatofin, a venture between Qatar Petroleum, Qatar Petrochemical Company Ltd, and Total Petrochemicals. The ethylene cracker will provide feedstock via pipeline to the Q-Chem II complex and Qatofin's new 450,000 metric-ton-per-year (972 million-pound-per-year) linear-low-density polyethylene unit, also in Mesaieed. Start up of the Q-Chem II units, the ethylene cracker, and Qatofin's unit is slated for late 2008.
H.E. Abdullah Bin HamadAl-Attiyah, Second Deputy Premier, Minister of Energy and Industry, Qatar Petroleum Chairman of the Board and Managing Director stated that Qatar Petroleum's strategy is to upgrade the value of hydrocarbon chain with Qatar gas reserves and to achieve economic diversification through development of ethane based derivative products.
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