Qatar Petroleum, ExxonMobil Ink Study

Qatar Petroleum, ExxonMobil Ink Study

State-owned Qatar Petroleum and ExxonMobil Chemical Qatar, a subsidiary of ExxonMobil Corp., signed a deal Sunday to conduct a study to build a US$3 billion petrochemical complex. The proposed complex, which would be built in the Ras Laffan Industrial City, would produce 1.3 million tons of ethylene, 570,000 tons of low-density polyethylene and 420,000 tons of polyethylene annually. “The project will create a very strong position for Qatar and enable it to become world leader in the petrochemical business,” Qatar’s Energy Minister Abdullah bin Hamad al-Attiyah told reporters. Qatar’s General Electricity and Water Corporation also signed a deal with Japan’s Marubeni IPP to construct a power plant estimated to cost US$41.8 billion.The plant would produce 2,000 megawatts of electricity and be built in two phases, the first opening in 2008 and the second two years later, officials said.

Share this post