Qatar Petroleum and Chevron Phillips Chemical Company LLC (Chevron Phillips Chemical) have obtained project approvals and financial closing occurred for the Q-Chem II Project. The Q-Chem II Project includes ownership of a new 350,000 tpa polyethylene plant and a 345,000 tpa normal alpha olefins plant to be built on a site adjacent to the existing Q-Chem I complex in Mesaieed, Qatar, to utilize Chevron Phillips Chemical's proprietary technologies for the production of polyethylene and normal alpha olefins.
The Q-Chem II Project also includes a joint venture to develop a 1.3 million tpa ethylene cracker in Ras Laffan Industrial City, to be held by Q-Chem II and Qatofin, a venture between Qatar Petroleum, Qatar Petrochemical Company Ltd, and Total Petrochemicals in the ratio of 53.85%: 46.15%. The ethylene cracker will provide feedstock via pipeline to the Q-Chem II complex and Qatofin's new 450,000 tpa linear low density polyethylene unit, also in Mesaieed. Start up of the Q-Chem II units, the ethylene cracker, and Qatofin's unit is slated for late 2008.
The financing for Q-Chem II and its share of the ethylene cracker will be provided by a group of commercial banks, the Export-Import Bank of the United States along with equity capital from Chevron Phillips Chemical and Qatar Petroleum.
21-Feb-06 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}