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FINANCIAL NEWS
Shell mulls $6 Billion petrochemical plant in Qatar
21 Dec 2010
(MENAFN) Peter Voser, Chief Executive Officer at Royal Dutch Shell Plc, revealed that it has agreed to mull an estimated $6 billion Qatar-based petrochemicals project with state-run Qatar Petroleum, Bloomberg reported.
According to Voser, the mentioned 1.5 million-metric-ton monoethylene glycol plant may be built by 2016 in the industrial city of Ras Laffan, while other olefin derivatives would boost the plant�s output to more than 2 million tons of finished products.
The project comes in line with Qatar’s goal to steer its economy away from exporting liquefied natural gas and crude oil, thus is investing in petrochemical, aluminum and fertilizer factories, and aims to bolster annual petrochemicals production to at least 18 million tons by 2015/2016, explained Voser.
Separately, Shell has invested about $21 billion in Qatar, the world’s biggest liquified natural gas (LNG) exporter. Its operations include a $19 billion gas- to-liquids plant and a 30 percent stake in the Qatargas 4 LNG project, he added.
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