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Issue 15/2019 - Chevron and Qatar Petroleum jointly build petrochemical plant in the United States

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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Chevron Phillips Chemical and Qatar
Petroleum signed an agreement to jointly build a new petrochemical project
in the U.
S.
Gulf of Mexico.

The project will include one set of 2 million tons of ethylene crackers and two sets of 1 million tons of high-density polyethylene plants
.
The initial cost of the project is approximately $8 billion, and a final investment decision is expected no later than 2021, with the new facility set to be completed and commissioned in 2024
.
Phillips Chemical will hold a 51% stake in the project and Qatar Petroleum will hold a 49% stake
.
Phillips Chemical Company will provide project management and supervision and be responsible for the operation and management
of the facility.

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