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Qatar and Chevron sign major petrochemical deal

The move follows QatarEnergy’s gas deals last year with China and Germany.
Saad Sherida al-Kaabi (R), Qatar's energy minister and CEO of QatarEnergy, and Bruce Chinn, CEO of Chevron Phillips Chemical company, attend a signing ceremony at the QatarEnergy headquarters in Qatar's capital Doha on January 8, 2023. (Photo by AMR DIAB/AFP via Getty Images)

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. 

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