Skip to content Skip to Search
Skip navigation

QatarEnergy and Chevron Phillips to build $6bn petchem complex

Qatar News Agency
The integrated complex is expected to begin production in late 2026

QatarEnergy has signed a final investment decision on the $6 billion Ras Laffan Petrochemicals Complex with partner Chevron Pillips Chemical, which will be the largest in the Middle East.

The complex includes an ethane cracker with a capacity of 2.1 million tonnes of ethylene per year, the energy firm said in a statement published by state-run Qatar News Agency.

In addition, it will have two high-density polyethylene derivative units with a total production capacity of 1.7 million tonnes per annum.

State-owned QatarEnergy will hold a 70 percent stake in the venture, with Chevron Phillips Chemicals holding 30 percent.

“This marks QatarEnergy’s largest investment ever in Qatar’s petrochemicals sector and the first direct investment in 12 years,” said CEO Saad Al-Kaabi.

“It will double our ethylene production capacity, increase our local polymer production from 2.6 to more than 4 million tons per annum and place the utmost emphasis on sustainable growth and the environment,” he added.

Chevron Phillips Chemical chief executive Bruce Chinn said the investment would help meet the global demand for polyethylene products.

He added that work started at the site in June 2022, with the project expected to begin operating in late 2026. 

Latest articles

Rothschild Saudi

Edmond de Rothschild to run funding vehicle for Saudi projects

The Edmond de Rothschild Group is establishing a funding vehicle for infrastructure projects in Saudi Arabia along with the local firm SNB Capital, as part of a deal in which the Swiss investment bank will set up offices in the country.  Saudi Arabia’s massive economic diversification programme has run into financial obstacles as it faces […]

Turkey foreign property sales

Foreigners turning back on Turkish real estate

Foreign buyers are increasingly shunning the Turkish property market, wary of high prices, the expensive cost of living and a less welcoming environment for overseas real estate investors. There were only 2,064 residential units sold to foreign buyers in May, 35 percent down on the same month last year, data issued by the state statistics […]

2KEY8G1 Emirates Airline Airbus A380 aircraft landing. Aerial view of Emirates Airlines A380-800 airplane. An Emirates plane coming in to land at LAX; a spokesperson for Emirates said the contraventions were for safety reasons

US fines Emirates for operating in prohibited airspace

Emirates has been fined $1.5 million by the US Transportation Department for operating flights carrying JetBlue Airways’ JBLU.O designator code in prohibited airspace. The transportation department said that between December 2021 and August 2022, Emirates operated a significant number of flights carrying the JetBlue Airways code between the United Arab Emirates and the United States […]

Egypt will use the US funding across a range of sectors including agriculture

US allocates $130m development funding to Egypt

The US has allocated funding of $130 million for a range of developmental projects in Egypt, it was announced on Thursday. In a press release published by the US Embassy in Cairo, ambassador Herro Mustafa Garg said that the money would go towards “advancing Egyptian efforts to achieve a brighter, healthier, and more prosperous future […]