MOCOW (MRC) -- Industries Qatar (IQ) subsidiary Qatar Petrochemicals Company (Qapco) is close to finalizing an ethane-based expansion project, according to GV with reference to the company's top official.
"This is in the process of being finalized at some stage in near future," IQ chairman Saad Sherida al-Kaabi told the general assembly of shareholders, which met on 23 Feb 2016.
Addressing a question on the prospects of petrochemicals, al-Kaabi, who is also the president and chief executive of Qatar Petroleum (QP), said IQ is looking at expansion for ethane-based petrochemicals mostly, such as Qapco for instance. "We are studying the possibility of expanding. But it has to be beneficial for QP and the shareholders of IQ before we can embark on such a project," al-Kaabi said. "QP is the biggest shareholder in IQ."
In January 2015, QP had said it would conduct feasibility studies to see how it could utilize the "available" ethane feedstock after the decision not to go ahead with the multibillion Al-Karaana Petrochemicals Project.
The studies will be carried out by QP in cooperation with Qapco, Qatar Chemical Company and Ras Laffan Olefins Company, with the aim of further developing the petrochemical plants under IQ and Mesaieed Petrochemical Holding Company.
We remind that, as MRC informed previously, in 2013, Qapco signed a license agreement with Union Carbide Chemicals & Plastics Technology LLC, a wholly owned Subsidiary of The Dow Chemical Company, for UNIPOL polypropylene (PP) process technology. Then the company said that the 540 KTA PP production facility will be located in Ras Laffan, Qatar, and will produce homopolymers, random copolymers and impact copolymers from a mixed feed cracker.