His Highness the Amir Sheikh Tamim bin Hamad al-Thani, HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi and other dignitaries at the foundation stone laying programme of the Ras Laffan Petrochemical Complex on Monday / Gulf-Times
Doha: His Highness the Amir Sheikh Tamim bin Hamad al-Thani marked the commencement of construction for one of the world’s largest Petrochemical Complex in Ras Laffan Industrial City.
Ras Laffan Petrochemical Complex is a colossal $6 billion project set to elevate Qatar's status in the global petrochemical arena. The groundbreaking event witnessed the presence of HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi, President and CEO of QatarEnergy, Mark Lashier, President and CEO of Phillips 66, Bruce Chinn, President and CEO of Chevron Phillips Chemical, and other senior executives from QatarEnergy and Chevron Phillips Chemical.
This groundbreaking initiative is poised to substantially enhance Qatar's petrochemical production capacity to nearly 14 million tonnes annually by the end of 2026. The Ras Laffan Petrochemical Complex will feature an ethane cracker with an unprecedented capacity of 2.1 million tonnes per year of ethylene, positioning it as the largest in the Middle East. This advancement is expected to increase Qatar's ethylene production capacity by over 40%.
The expansive 435-acre site of the Ras Laffan will house two polyethylene trains with a combined annual output of 1.7 million tonnes of high-density Polyethylene (HDPE) polymer products, amplifying Qatar's overall production by approximately 50%.
With QatarEnergy holding a majority equity share of 70% in this transformative venture, alongside Chevron Phillips Chemical owning the remaining 30%, the project represents a significant milestone in QatarEnergy's downstream expansion strategy. Minister al-Kaabi emphasized the project's environmental sustainability and adherence to world-class standards in construction, operation and technology. This aims at ensuring energy efficiency, minimizing emissions and hydrocarbon waste while compared to other similar global projects.
"The Ras Laffan Petrochemical Complex is being built at a cost of $6 billion, marking the largest investment in QatarEnergy's history within Qatar's petrochemicals sector. This landmark initiative will solidify our integrated position as a global energy player and generate substantial economic benefits for the country", says Minister al-Kaabi.
This ambitious project underscores Qatar's commitment to innovation and sustainable development, propelling the nation towards a brighter and more resilient future in the global energy landscape.
Source: Gulf-Times