QatarEnergy and Chevron Phillips Chemical Company LLC (CPChem) announced that they have secured US$4.4 billion financing for the Ras Laffan Petrochemicals project, an integrated polymers complex in Ras Laffan Industrial City, Qatar.
The Ras Laffan Petrochemicals project is a collaboration between QatarEnergy (70%) and CPChem (30%). It encompasses an ethane cracker capable of producing around 2.1 million tons of ethylene annually. Additionally, it features two polyethylene trains that collectively yield 1.7 million tons per year of High-Density Polyethylene (HDPE) polymer products, extensively used in packaging, construction, and consumer goods. Upon completion, this facility will significantly enhance Qatar's petrochemical production capacity, nearing 14 million tons annually.
The complex is set to commence production in late 2026.
