Signing of the project agreement documents occurred earlier this morning in Doha by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and the President & CEO of Qatar Petroleum, and Mark E. Lashier, President & CEO of Chevron Phillips Chemical.
Qatar Petroleum will own a 70 percent majority share of the joint venture and Chevron Phillips Chemical will own the remaining 30 percent.
In addition to the exclusive licensing of its MarTECH loop slurry process for manufacturing HDPE, Chevron Phillips Chemical will provide project management, engineering and construction services to develop the project. As part of the development phase, the companies will study the potential efficiencies that could be realized by harnessing the existing capabilities of the Qatar Chemical Company (Q-Chem) joint ventures to provide overall operational management of the facility once complete.
The engineering design phase of the project should commence shortly, leading to a planned start-up in late 2025.
Chevron Phillips Chemical Company LLC is one of the world’s top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, plastic piping and polymer resins.
Qatar Petroleum is an integrated national oil corporation responsible for the sustainable development of the oil and gas industry in the State of Qatar and beyond.