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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