MOSCOW (MRC) -- QatarEnergy and Chevron Phillips Chemical Company (CPChem) marked the groundbreaking of the Golden Triangle Polymers Plant in Orange County, in Texas, U.S., marking the beginning of construction of the USD8.5-B world-scale petrochemical facility, said Hydrocarbonprocessing.
The landmark event was attended by Senior QatarEnergy Executives as well as Mr. Bruce Chinn, the President and CEO of Chevron Phillips Chemical, Mr. Mark Lashier, the President and CEO of Phillips 66, in addition to several local elected and appointed officials.
Delivering remarks on behalf of His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, Mr. Ahmad Saeed Al-Amoodi, QatarEnergy’s Executive Vice President, Surface Development & Sustainability, said, “For over two decades, we have worked hand in hand with Chevron Phillips Chemical to satisfy the growing demand for innovative petrochemical products, which not only constitute a significant portion of our daily lives, but also play a role in shaping how we live. In this partnership, we are also working together to enable balanced growth and to facilitate human development in a responsible and sustainable manner."
Highlighting the local impact of the new facility, Mr. Al-Amoodi, said, “The Orange community is a direct beneficiary of this strategic partnership. We are investing USD8.5 B to build this world-scale facility, which is QatarEnergy’s second largest investment in the U.S. after the more than USD11-B investment in the Golden Pass LNG production and export facility, which is currently under construction about 35 miles from here in Sabine Pass, Texas. This plant will also be, by far, the most significant economic investment in the Orange community in decades, creating jobs and supporting economic growth."
Mr. Al-Amoodi concluded his remarks by thanking the local community, CPChem, the local and federal bodies and agencies, and all the stakeholders in the city of Orange who have made this project a reality, and to all the contractors who will build the projects.
Located about 180 kilometers east of Houston, the plant will include an ethylene cracker unit with a capacity of 2.08 MMtpy, making it the largest in the world, and two high-density polyethylene units with a combined capacity of 2 MMtpy, also making them the largest derivatives units of their kind in the world. The plant is expected to startup in 2026 and will be owned by Golden Triangle Polymers Company LLC, a joint venture in which QatarEnergy holds a 49% equity interest with 51% held by CPChem.
We remind, QatarEnergy and Chevron Phillips Chemical Company LLC announced they will proceed on construction of a USD6 B integrated polymers complex in Ras Laffan Industrial City, Qatar. An agreement marking the positive final investment decision for the project was signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and by Bruce Chinn, President and CEO of Chevron Phillips Chemical, at a ceremony in Doha. The companies created a joint venture, Ras Laffan Petrochemicals, in which QatarEnergy owns a 70% equity share and Chevron Phillips Chemical owns 30%.