MOSCOW (MRC) -- Qatar Petroleum (QP) has announced agreements to supply additional quantities of ethane to a number of subsidiaries of Industries Qatar (IQ) and Mesaieed Petrochemical Holding Company (MPHC), reported Plastemart.
This move is aimed at supporting Qatar’s petrochemical industry. The agreements for additional ethane volumes were signed with each of QAPCO, Q-Chem 1, Q-Chem 2, and Qatofin.
The total additional ethane volumes that will be supplied to the four companies will be approximately one thousand metric tons per day which equates to an increase of approximately 10% compared to the base quantities. The new agreements are designed to enable these companies to reach the maximum capacity of their respective facilities, thus raising their efficiency and improving profitability.
Saad Sherida Al Kaabi (pictured), President and CEO of QP, said "This important step was driven by Qatar Petroleum’s keenness to maximize benefit from our natural resources, especially in the vital petrochemical sector". "It also comes in support of Qatar’s national industry and the important role it plays in boosting the growth and development of our national economy," he said.
As MRC wrote before, in 2015 QP, as part of a restructuring program, announced plans to withdraw from the joint venture Long Son petrochemical complex in Vietnam. Located in Ba Ria-Vung Tau province, the complex, with an estimated cost of USD4.5-billion, involves a 1.4-million-t/y olefins cracker to feed downstream production of 2.7-million t/y of polyethylene and polypropylene. Operations are expected to begin in 2018.
Qatar Petroleum is an integrated national oil corporation responsible for the sustainable development of the oil and gas industry in the State of Qatar. Its activities encompass the entire spectrum of the oil and gas value chain locally, regionally, and internationally, and include the exploration, production, processing, marketing and sales of oil and gas, liquefied natural gas (LNG), natural gas liquids (NGL), gas to liquids (GTL) products, refined products, petrochemicals, fertilisers, steel and aluminium.