Skip to content Skip to Search
Skip navigation

QatarEnergy begins construction of $8.5bn polymers plant in US

By Pramod Kumar
QatarEnergy
Executives of QatarEnergy and Chevron Phillips Chemical Corporation break ground on the Golden Triangle polymers plant in Texas, US

State-owned QatarEnergy and Chevron Phillips Chemical Company have broken ground on the $8.5 billion Golden Triangle polymers plant in Orange County, Texas, US.

Located about 180 km east of Houston, the plant will include an ethylene cracker unit with a capacity of 2.08 million tons per annum and two high-density polyethylene units with a combined capacity of two million tons per annum, QatarEnergy said in a statement.

The plant is expected to startup in 2026. It will be owned by Golden Triangle Polymers Company LLC, a joint venture in which QatarEnergy holds a 49 percent equity interest, with 51 percent held by Chevron Phillips.

Ahmad Saeed Al-Amoodi, QatarEnergy’s executive vice president, surface development and sustainability, said: “We are investing $8.5 billion to build this world-scale facility, which is QatarEnergy’s second largest investment in the US after the more than $11 billion investment in the Golden Pass LNG production and export facility, which is currently under construction in Sabine Pass, Texas.”

Last week QatarEnergy announced a third oil discovery with its partners, Namibia’s oil major Namcor and Shell, in the Jonker-1X deepwater exploration well, in the Orange Basin offshore southern Namibia.

In February, the Lebanese energy ministry said that QatarEnergy will join TotalEnergies and Eni in a three-way consortium to explore oil and gas in two maritime blocks off the coast of Lebanon.

Latest articles

Fakeeh IPO

Institutions snap up share of Fakeeh Care Group IPO in minutes

Institutional investors snapped up their slice of shares in the Saudi healthcare conglomerate Fakeeh Care Group within minutes of the start of the book-building process for the company’s IPO. Fakeeh Care Group, which was founded in Jeddah in 1978, has set the price range for its initial public offering (IPO) at between SAR53 ($14.13) and […]

Lebanon EU aid

Lebanon to receive $1bn in financial aid from the EU

A financial aid package for Lebanon from the EU valued at more than $1 billion was announced on Thursday by the European Commission president, Ursula von der Leyen.  The money, most of which will be grants, will be made available over the next three years. Some will go towards helping to control the flow of […]

UAE minister of industry and advanced technology and Adnoc group CEO Dr Sultan Ahmed Al Jaber (top centre) will become chairman of AIQ

Presight takes majority stake in Adnoc-G42 AI venture

The data analytics company Presight is acquiring a majority stake in AIQ, a joint venture between Abu Dhabi National Oil Company (Adnoc) and G42. Under the agreement, Presight, an Abu Dhabi-listed company, will own 51 percent of AIQ, with Adnoc keeping the remaining 49 percent, a statement released on Wednesday said.  Previously, G42 held 40 […]

ADQ listed its bonds on the London Stock Exchange, which it called a 'significant step' in diversification

ADQ’s first $2.5 billion bond issue four times oversubscribed 

Sovereign wealth fund ADQ has issued its first bonds, selling $2.5 billion of debt on the London Stock Exchange, in what the company says marks a “significant step” in diversifying its funding sources. Founded in 2018, ADQ – Abu Dhabi Developmental Holding Co – is one of three major Abu Dhabi sovereign funds and has […]