Qatar Petroleum and ExxonMobil Corp. have signed an initial deal to build a US$2 billion petrochemical plant in Ras Laffan Industrial City, to produce 1.6 million tpa of ethylene products. The project will use ethane from natural gas produced from Qatar's supergiant North field as feedstock. The two companies will sign a letter of intent in July and a final contract in 2006, for the project scheduled to come on stream in 2011.
Folllowing the JV with ExxonMobil, Qatar plans to set up joint petrochemical projects in Qatar, with Kuwait. The financial costs of these projects, can be pegged initially at US$2 billion.
20-May-05 
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