Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
The petrochemical facility in Ras Laffan, a collaboration between QatarEnergy and Chevron will comprise an ethane cracker that will produce 1.9m tonne of ethylene per year, an 82 percent output increase making it the biggest of its kind in the region and one of the largest in the world when operational in 2025, according to the US-Qatar Business Council (USQBC) report to mark 50 years of collaboration between Qatar and the United States this year.
QatarEnergy and Chevron inked an agreement to build a petrochemical facility in Ras Laffan which is a result of the North Field Expansion with Chevron having a 30 percent stake in the venture.
The North Field, the world’s largest single non-associated natural gas field, lies offshore northeast of the Qatar peninsula.
Natural gas on the north-east coast of Qatar was discovered in 1971 and 15 appraisal wells have been drilled at North-Field over 14 years. The field is owned by QatarEnergy and is operated by its subsidiary Qatargas.
QatarEnergy announced the expansion of the gas field in April 2017 after revoking its 12-year self-imposed ban on field development.
The expansion will increase Qatar’s liquefied natural gas (LNG) production capacity from 77m tons per annum (Mtpa) to 110 Mtpa, which accounts for an LNG production capacity increase of approximately 43 percent.
QatarEnergy formed joint ventures with American oil and gas giants ExxonMobil, ConocoPhillips, among other international companies for developing the expansion project in June 2022.
QatarEnergy holds 75 percent interest in each joint venture, while ExxonMobil, ConocoPhillips, 25 percent interest in the respective JVs.
QatarEnergy has also contracted major US companies such as McDermott International Ltd., Baker Hughes Co., and Northern Offshore Drilling Operations Ltd for construction & engineering-related works in the $28.7bn North Field Expansion Project.
The US-Qatar Business Council promotes, enhances and advances the bilateral business relationship between the United States and the State of Qatar.
Today, the US-Qatar Business Council is a critical entity in the expansion of trade and investment between the United States in Qatar. In addition to providing advisory, consulting, and market research services to its member companies, USQBC delivers many events to bring together business leaders and government officials.
Throughout recent years, USQBC has supported the multi-city Qatar-US Economic Forum, webinar engagements, meet and greet receptions for government officials, investment & trade engagements, and many other events.
