Amir lays foundation stone for $6bn world scale Ras Laffan Petrochemical Complex

His Highness the Amir Sheikh Tamim bin Hamad al-Thani laid the foundation stone for the $6bn Ras Laffan Petrochemical Complex, one of the largest in the world, which will raise Qatar’s overall petrochemical production capacity to about 14mn tonnes a year by the end of 2026.
The groundbreaking ceremony for the world-scale integrated polymers complex was held at Ras Laffan Industrial City, and attended by HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi, also the President and CEO of QatarEnergy, Mark Lashier, President and CEO of Phillips 66, Bruce Chinn, President and CEO of Chevron Phillips Chemical, and senior executives from QatarEnergy and Chevron Phillips Chemical.
The complex will house an ethane cracker with a capacity of 2.1mn tonnes per year of ethylene, making it the largest in the Middle East and one of the largest in the world, and raising Qatar’s ethylene production capacity by more than 40%.
The 435-acre site also includes two polyethylene trains with a combined annual output of 1.7mn tonnes of high-density Polyethylene (HDPE) polymer products, raising Qatar’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%.
Speaking at the ground breaking ceremony, al-Kaabi highlighted the project’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.
“The Ras Laffan Petrochemical Complex is being built at a cost of $6bn, making it the largest investment in history of QatarEnergy in Qatar’s petrochemicals sector. There is no doubt that this is an important landmark in QatarEnergy’s downstream expansion strategy as it will reinforce our integrated position as a global energy player and generate significant economic benefits for the country,” the minister said.
“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 $8.5bn in partnership with Chevron Phillips Chemical, and which is considered the biggest in the world,” al-Kaabi noted.
Al-Kaabi expressed his thanks to the management and staff of Chevron Phillips Chemical, QatarEnergy’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.
“I am honoured 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 honouring us with his presence, and for his unlimited support to the energy sector,” al-Kaabi added.
Later addressing a press conference along with Chinn, the minister said the Ras Laffan Petrochemical Complex is expected to generate significant economic benefits for the country including increased tax revenue and foreign investment.
Earlier the JV partners – QatarEnergy and Chevron Phillips Chemical Company (CPChem) announced they have secured $4.4bn financing for the Ras Laffan Petrochemicals project.
The senior debt financing package comprises commercial and Islamic facilities as well as Export Credit Agency (ECA) financing.

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