Qatar, ExxonMobil sign MOU for 1.6-mil mt/yr ethylene cracker
London (Platts)--16May2005
Qatar Petroleum and ExxonMobil have signed a memorandum of understanding in New York for the construction of a 1.6-mil mt/yr of ethylene cracker at Ras Laffan in Qatar, Qatari officials said Monday. The agreement to build the biggest ethane-based cracker of its kind in the world, is worth $2-bil, officials said. This MOU was the result of the feasibility study, which both companies inked on Jun 24 last year, to take advantage of Qatar's natural gas reserves. When completed, the complex would utilize ethane feedstock from new gas development projects in Qatar's North Field, ExxonMobil said in its previous statement. Qatar sits on the world's third biggest natural gas reserves after Russia and Iran. This story was originally published in Platts Petrochemical Alert http://www.petrochemcialalert.platts.com
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