The Export-Import Bank (Ex-Im Bank) of USA has financed a number of projects to develop Qatar's oil and gas sector. The Ex-Im Bank has now approved a US$263mn (QR950) loan guarantee to support the export of equipment and engineering services by Technip USA Corp, Chevron Phillips Chemical Co and other US suppliers for the Q-Chem II Petrochemical Project in Qatar, scheduled to start up in Q4-2007. Ex-Im Bank, the only export credit agency participating in the project, will guarantee a loan from Royal Bank of Scotland. A consortium of private banks also will contribute financing to the project. The Ex-Im Bank financing is structured as limited recourse project finance, with repayment based on project revenues.
Qatar Chemical Company II will build an ethylene cracker in Ras Laffan to convert ethane to ethylene, a large integrated petrochemical facility in Mesaieed to process the ethylene into high density polyethylene and normal alpha olefin products, and a pipeline to transport the ethylene to the petrochemical facility. The Q-Chem II derivatives facility will have a capacity of 350 KTA of polyethylene and 350 KTA of normal alpha olefins.
25-Jul-05 
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