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15-01-2015

Qatar Petroleum to pursue the expansion of Qatar’s petrochemical industry

In a step forward aimed at promoting the growth of the petrochemical industry in Qatar, Mr. Saad Sherida Al-Kaabi, President & CEO of Qatar Petroleum (QP), said that QP will be conducting feasibility studies to assess utilizing the available ethane feedstock made available after the decision not to go ahead with the Al-Karaana Petrochemicals Project. The studies will be carried out by QP in cooperation with Qatar Petrochemical Company (QAPCO), Qatar Chemical Company (Q-Chem) and Ras Laffan Olefins Company (RLOC), with the aim to expand and further develop the petrochemical plants under Industries Qatar (IQ) and Mesaieed Petrochemical Holding Company (MPHC).

This significant step was driven by QP’s efforts to achieve the best utilization of Qatar’s natural resources, particularly in the petrochemical sector and in a manner that supports local industries, and maximizes its contribution to the national economy.

Based on the results of the studies, the best option will be selected  in a manner that ensures that maximum economic benefits to the State and to all shareholders in these companies in the long term.

Mr. Saad Sherida Al-Kaabi stressed that this approach will also maximize the benefit from available synergies by utilizing the existing facilities and infrastructure in this sector, and will  significantly reduce capital and operational costs.

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