<p>DOHA, Qatar &bull; 19 February 2024 &ndash; His Highness Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, laid the foundation stone for the Ras Laffan Petrochemical Complex, one of the largest in the world, which will raise Qatar&rsquo;s overall petrochemical production capacity to about 14 million tons per annum by the end of 2026.</p>

<p>The groundbreaking ceremony was held at Ras Laffan Industrial City, and attended by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, Mr. Mark Lashier, the President and CEO of Phillips 66, Mr. Bruce Chinn, the President and CEO of Chevron Phillips Chemical, and senior executives from QatarEnergy and Chevron Phillips Chemical.</p>

<p>The complex will house an ethane cracker with a capacity of 2.1 million tons per annum of ethylene, making it the largest in the Middle East and one of the largest in the world, and raising Qatar&rsquo;s ethylene production capacity by more than 40%. It also includes two polyethylene trains with a combined annual output of 1.7 million tons of High-Density Polyethylene (HDPE) polymer products, raising Qatar&rsquo;s overall production by about 50%. QatarEnergy holds an equity share of 70% in the Ras Laffan Petrochemical Complex, with Chevron Phillips Chemical owning the remaining 30%.</p>

<p>Speaking at the ground breaking ceremony, His Excellency Mr. Saad Sherida Al-Kaabi highlighted the project&rsquo;s unique environmental qualities, and the world-class construction, operation, and technology standards, all designed to ensure energy savings, and significant reduction of emissions and hydrocarbon waste compared with similar global facilities.&rdquo;</p>

<p>His Excellency Minister Al-Kaabi said: &ldquo;The Ras Laffan Petrochemical Complex is being built at a cost of six billion dollars, making it the largest investment in history of QatarEnergy in Qatar&rsquo;s petrochemicals sector. There is no doubt that this is an important landmark in QatarEnergy&rsquo;s downstream expansion strategy as it will reinforce our integrated position as a global energy player and generate significant economic benefits for the country.&rdquo;</p>

<p>H.E. the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, added: &ldquo;Our prominent standing in the petrochemical industry will be further strengthened when we commence production of the Golden Triangle Polymers Plant in 2026, which we are developing in the US state of Texas at a cost of 8.5 billion dollars in partnership with Chevron Phillips Chemical, and which is considered the biggest in the world.&rdquo;</p>

<p>His Excellency Minister Al-Kaabi expressed his thanks to the management and staff of Chevron Phillips Chemical, QatarEnergy&rsquo;s partner in this project, and extended his appreciation to the dedicated teams from QatarEnergy who are working diligently to implement this project as well as its contractors.<br />
In conclusion, His Excellency said: &ldquo;I am honored to extend ample thanks to His Highness, Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, for his patronage of this event and honoring us with his presence, and for his unlimited support of the Energy Sector.&rdquo;</p>
