Apr 2 2003
Qapco (Qatar Petrochemical Co), an 80:20 joint venture between the Qatar Petroleum owned by the Qatari government and Atofina, will enter the high density polyethylene (HDPE) market through its subsidiary Q-Chem II, which is in the process of being commissioned.
Q-Chem is a 51:49 joint venture between Qapco and Chevron Phillips, and will produce HDPE marketed under the name Marlex. The new plant will have a capacity of 350,000 tonnes per year.
The Q-Chem II plant is the first stage in a three tier expansion project aimed at making Qatar the largest petrochemicals manufacturer and exporter in the region.
Subsequent projects will see the establishment of:
- The Qatofin $550 million linear low density polyethylene plant with output of 450,000 tonnes per year. Major share holders in this joint venture will be Qapco (63%) and Atofina (36%).
- A $470 million ethane cracker with 1.3 million tonnes per year capacity. Major shareholders in this joint venture will be Q-Chem II (53.31%) and Qatofin (45.69%)
These are all part of a bold expansion plan for Qapco that should be completed by 2007. They take advantage of the North Fields natural gas reserves which are the second largest in the world after those located in Russia.
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