(MENAFN- The Peninsula) Joel Johnson |
The Peninsula
Doha, Qatar: Amir H H sheikh Tamim bin Hamad Al Thani laid foundation stone for the Ras Laffan Petrochemical Complex at the Ras Laffan Industrial City yesterday. The complex will house an ethane cracker with a capacity of 2.1 million tons per annum of ethylene, raising the country's ethylene production capacity by over 40 percent by the end of 2026.
QatarEnergy's distinctive and largest investment project in the petrochemical industry will also increase Qatar's overall petrochemical production capacity to nearly 14 million tons per annum.
The Ras Laffan Petrochemical Complex groundbreaking ceremony was attended by Minister of State for Energy Affairs and the President and CEO of QatarEnergy, H E Saad Sherida Al Kaabi; President and CEO of Phillips 66, Mark Lashier; President and CEO of Chevron Phillips Chemical, Bruce Chinn; along with other senior officials from QatarEnergy and Chevron Phillips Chemical.
The project is among the largest globally and the largest ever in the Middle East and includes two polyethylene trains with a combined annual output of 1.7 million tons of High-Density Polyethylene (HDPE) polymer products, boosting Qatar's overall production by close to 50 percent.
Al Kaabi addressed the gathering, outlining the project's unique environmental qualities, top-notch construction, infrastructure, and technology standards designed to ensure energy savings and significant reduction of emissions and hydrocarbon waste compared with similar global facilities.
Minister Al Kaabi said:“The Ras Laffan Petrochemical Complex is being built at a cost of $6bn, making it the largest investment in the history of QatarEnergy in Qatar's petrochemicals sector. There is no doubt that this is an important landmark in QatarEnergy's downstream expansion strategy as it will reinforce our integrated position as a global energy player and generate significant economic benefits for the country.”
Noting the importance of bolstering the sector, Al Kaabi remarked,“Our prominent standing in the petrochemical industry will be further strengthened when we commence production of the Golden Triangle Polymers Plant in 2026, which we are developing in the US state of Texas at a cost of $8 in partnership with Chevron Phillips Chemical, and which is considered the biggest in the world.” The Minister also conveyed his gratitude to the management and staff of Chevron Phillips Chemical, QatarEnergy's partner in this project, and extended his appreciation to the dedicated teams from QatarEnergy who are working diligently to implement this project as well as its contractors.
“I am honoured to extend ample thanks to His Highness, Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, for his patronage of this event and honouring us with his presence, and for his unlimited support of the Energy Sector,” Al Kaabi added.
Addressing the media during the press conference, Chinn stressed Chevron Phillips Chemical's vital contribution to the project. He underscored that the firm is currently executing advanced and single and dual technology for polyethylene and also offers project management expertise both for design and construction.
Chinn also highlighted the significance of various approaches and frameworks that are carried out to design products to encourage the reuse and recycling of plastic. He said:“We are working actively, certainly in our own operations to prevent the release of plastics but we are working with coalitions across the globe to work on different solutions to help clean up that.”
He further pointed out that it's a“concerted effort” as there is a global plastics treaty under negotiation among member states. Chinn noted that Chevron Phillips Chemical is a part of such a process and provides inputs and perspectives at different stages of enhancements in order to minimise plastic waste and commence with redesigning and reusing.
QatarEnergy holds an equity share of 70 percent in the Ras Laffan Petrochemical Complex, while Chevron Phillips Chemical owns 30 percent of the project, respectively.
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