Qatar Petroleum and ExxonMobil sign agreement

02-Nov-06

Qatar Petroleum and ExxonMobil Chemical Qatar Ltd., a subsidiary of ExxonMobil Corp., have signed a Heads of Agreement to progress studies for a proposed US$3 bln petrochemical complex in Ras Laffan Industrial City, Qatar. Start-up is estimated in 2012. The complex is to house a 1.3 mln tpa cracker and associated derivatives units, including polyethylene and ethylene glycol and will have ExxonMobil's proprietary steam cracking furnace and polyethylene technologies installed. The complex will utilise feedstock from gas development projects in Qatar's North Field and serve markets in both Asia and Europe.