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QatarEnergy and Chevron Phillips to build $6bn petchem complex

By Pramod Kumar
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. 

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