The state-owned QatarEnergy announced Monday an agreement with the US petrochemical giant Chevron Phillips Chemical to build a petrochemical facility.
QatarEnergy and Chevron Phillips Chemical will build a $6 billion complex in Qatar’s Ras Laffan Industrial City. To this end, the two companies created the joint venture Ras Laffan Petrochemicals. QatarEnergy owns 70% of the venture, while Chevron owns the remaining 30%. Construction began in June of last year and is expected to finish in 2026, Chevron Phillips Chemical said in a press release.
