QATAR PETROLEUM (QP) has signed an agreement with a consortium led by Frances Total to build the $1.5 billion Laffan 2 refinery project, according to a statement from the Qatari firm.
QP will own 84 per cent of the joint venture. The remainder will be controlled by a consortium consisting of Total and four other parties including Japans Cosmo Oil and Marubeni.
Construction of the condensate refinery is expected to be completed by the second half of 2016. The refinery will have a total capacity of 146,000 barrels per day (b/d), which include 60,000 b/d of naphtha, 53,000 b/d of jet fuel, 24,000 b/d of gasoil and 9,000 b/d of liquefied petroleum gas (LPG), the statement added.
The project is in line with Qatars 2030 plan to produce value-added products which will meet the local demand and also be used for exports, Dr Mohammed al Sada, Qatars energy minister, said.
