“QatarEnergy with Chevron Phillips Chemical Company (CPChem) announced a final investment decision to build Ras Laffan Petrochemicals, an integrated alkene and polyethylene facility worth $6 billion,” the company said.
The agreement on the joint enterprise, in which QatarEnergy and CPCchem will have 70% and 30% share respectively, was signed on Sunday.
According to QatarEnergy, Ras Laffan Petrochemicals, which is scheduled to be launched in 2026, will have ethane cracker with a capacity of 2.1 million tonnes of ethylene per year, which will make it the largest in the Middle East, as well as two polyethylene production lines with a combined capacity of 1.7 million tonnes of polymer products per year, which will increase Qatar's total petrochemical production capacity to almost 14 million tonnes per year.