QatarEnergy secures $4.4 billion financing for Ras Laffan petrochemicals project
Oct. 10, 2023
QatarEnergy and Chevron Phillips Chemical Co. LLC (CPChem) have secured $4.4 billion financing for the Ras Laffan petrochemicals project, a world scale integrated polymers complex in Ras Laffan Industrial City, Qatar.
The petrochemicals project is a joint venture between QatarEnergy (70%) and CPChem (30%). Final investment decision was taken in January (OGJ Online, Jan. 9, 2023).
The complex, expected to begin production in late 2026, consists of an ethane cracker with a capacity of about 2.1 million tons/year (tpy) of ethylene. It also includes two polyethylene trains—which will use a CPChem loop slurry process—with a combined output of 1.7 million tpy of high-density polyethylene (HDPE) polymer products. The complex is expected to raise Qatar’s overall petrochemical production capacity to almost 14 million tpy.
The two companies also are constructing a joint venture integrated polymers plant on the Texas Gulf Coast, which is expected to be operational in 2026.
