Dec 05 2011 |
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Qatar: QP and Shell ink $6.4bn plant deal
DOHA: The Minister of Energy and Industry, H E Dr Mohammed bin Saleh Al Sada and Peter Voser, Chief Executive Officer of Shell, yesterday signed a $6.4bn Heads of Agreement that sets the scope and commercial principles for the development of a world-scale petrochemicals complex in Ras Laffan Industrial City.This agreement follows the conclusion of a joint feasibility study conducted by the partners, Qatar Petroleum and Shell.
The scope under consideration includes a world-scale steam cracker, with feedstock coming from natural gas projects in Qatar; a mono-ethylene glycol plant of up to 1.5 million tonnes per annum using Shell's proprietary OMEGA (Only MEG Advantaged) technology; 300 kilotonnes per annum of linear alpha olefins using Shell's proprietary SHOP (Shell Higher Olefin Process); and another olefin derivative.
"This critical petrochemicals project fits well with Qatar's strategy to strengthen and further diversify its growing chemicals industry and represents an important milestone on our journey to become a significant global petrochemicals producer. In line with directives of the Emir H H Sheikh Hamad bin Khalifa Al Thani, this large petrochemicals complex will provide Qatar with another viable option to extract optimal value from its natural gas resources," said Minister Al Sada.
Qatar Petroleum and Shell have delivered Pearl Gas-to-Liquids (GTL) and Qatargas 4 this year; two of the world's largest projects built in Ras Laffan Industrial City.
© The Peninsula 2011
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