QP has announced plans to build a new world-scale petrochemicals complex, which will include the Middle East’s largest ethane cracker. It has invited a group of leading international companies to submit proposals for partnering in the development and operation of the planned facility at Ras Laffan Industrial City.
The Petrochemicals Complex will include an ethane cracker with a capacity of more than 1.6 mtpa of ethylene, making it the largest ethane cracker in the Middle East, and one of the largest in the world. Additionally, the complex’s world-class derivative plants will consolidate Qatar’s position among the leading petrochemicals producers in world markets. The engineering design of the Petrochemicals Complex is expected to commence soon, with start-up planned for 2025.
The feedstock for the Petrochemical Complex will be ethane produced primarily from the new North Field LNG expansion as well as from existing gas projects producing ethane.
Industries Qatar recently increased its foreign ownership limit to 49% and declared Q1 2018 net profits of QAR1.3 billion with earnings per share of QAR2.10 (QAR0.9 billion and QAR1.53 for the corresponding period of 2017). The results were well ahead of the group budget expectations for 2018.