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His Highness the Amir of the State of Qatar Sheikh Tamim bin Hamad Al Thani on Monday laid the foundation stone of the Ras Laffan Petrochemical Complex project, a $6 billion venture that will house the Middle East’s largest ethane cracker, in Ras Laffan Industrial City.
The project will contribute to doubling the production capacity of ethylene and its derivatives and will increase Qatar’s total petrochemical production to approximately 14 million tonnes annually by the end of 2026.
During the ceremony, a documentary film was screenedabout the project, which is considered one of the biggest petrochemical projects in the world.
The groundbreaking ceremony was attended by Minister of State for Energy Affairs and the President and CEO of QatarEnergy HE Saad Sherida Al Kaabi, Phillips 66 President and CEO Mark Lashier, Chevron Phillips Chemical President and CEO Bruce Chinn, and senior executives from QatarEnergy and Chevron Phillips Chemical.
Designed to use modern, energy-saving technology, the ethane cracker will have a capacity of 2.1 million tonnes per annum of ethylene, raising Qatar’s ethylene production capacity by more than 40 percent.
The Ras Laffan Petrochemical Complex will also include two polyethylene trains with a combined annual output of 1.7 million tonnes of High-Density Polyethylene (HDPE) polymer products, raising Qatar’s overall production by about 50 percent.
QatarEnergy holds an equity share of 70 percent in the Ras Laffan Petrochemical Complex, with Chevron Phillips Chemical owning the remaining 30 percent.
Speaking at the groundbreaking ceremony, Al Kaabi highlighted the project’s unique environmental qualities, and the world-class construction, operation, and technology standards, all designed to ensure energy savings, and significant reduction of emissions and hydrocarbon waste compared with similar global facilities.
Al Kaabi said, “The Ras Laffan Petrochemical Complex is being built at a cost of $6 billion, 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.”