CPChem and QatarEnergy secure financing on petrochemicals project
Published by Poppy Clements,
Assistant Editor
Hydrocarbon Engineering,
The project financing comprises commercial and Islamic lenders and a group of export credit agencies.
Securing the financing is a key milestone in the development of the 435 acre petrochemical project, which will include the largest ethane cracker in the Middle East and one of the largest in the world. The facility will have a capacity of 2.1 million tpy of ethylene and will also include two high-density polyethylene derivative units with a total capacity of 1.7 million tpy.
The polyethylene units will use CPChem’s MarTech™ loop slurry process to produce high-density polyethylene for durable goods such as pipe for natural gas and water delivery and packaging applications to protect and preserve food and keep medical supplies sterile.
CPChem and QatarEnergy reached positive final investment decision (FID) for the Ras Laffan petrochemicals project in January 2023, and startup of the facility is expected in late 2026.
The two companies also are constructing a JV integrated polymers facility on the Texas Gulf Coast, US, which is expected to be operational in 2026.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/10102023/cpchem-and-qatarenergy-secure-financing-on-petrochemicals-project/
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