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QatarEnergy announced the final investment decision with Chevron Phillips Chemical Co. to build the 2.1 million mt/year ethylene project in Ras Laffan for $6 billion, marking the company’s largest investment in petrochemicals in Qatar. Both sides agreed to establish a joint venture for the Ras Laffan petrochemicals project that will be 70% owned by QatarEnergy and 30% by Chevron Phillips. The go-ahead is the latest in a raft of projects planned by state-owned oil and natural gas companies in petrochemicals in the region as they seek to broaden the scope of their business.

Qatar Moves Ahead With $6 billion Ras Laffan Petrochemicals Project

QatarEnergy announced the final investment decision with Chevron Phillips Chemical Co. to build the 2.1 million mt/year ethylene project in Ras Laffan for $6 billion, marking the company’s largest investment in petrochemicals in Qatar. Both sides agreed to establish a joint venture for the Ras Laffan petrochemicals project that will be 70% owned by QatarEnergy and 30% by Chevron Phillips. The go-ahead is the latest in a raft of projects planned by state-owned oil and natural gas companies in petrochemicals in the region as they seek to broaden the scope of their business.

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