WGC-QatarEnergy CEO: Chemical industry is growing rapidly, says WGC
QatarEnergy, according to its chief executive Saad Al-Kaabi, plans to double its global capacity for plastics and raw materials as the company sees a big growth in chemical industries.
He told the World Gas Conference that the state-owned company anticipates starting production on its U.S. Ethane Cracker Project in the first quarter 2027.
According to the website of the U.S. firm, this joint venture project with Chevron Phillips Chemical was expected to start operations in 2026. The project will consist of a 2,08 million metric ton per year (tpy), ethane ethane, and two high-density polyethylene (1 million tpy) units.
Ethane, a by-product of shale oil and gas production, is also a valuable resource. Globally, more petrochemical companies are expanding.
Crackers made from ethane
Or reconfiguring their plants in order to process more U.S. ethane, to cut costs and take advantage of the rising U.S. supply.
He said that Qatar is one of the three biggest LNG exporters in the world. The North Field East Natural Gas Expansion Project will begin production by mid-2026.
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In a Tuesday statement, he gave an update on his timeline.
Kaabi added that gas will be the foundation of all societies in the 21st century.
He said that anyone who uses fuel oil or diesel to generate electricity can easily switch over to gas. (Reporting and writing by Colleen Waye; editing by Tom Hogue, Christian Schmollinger, and Florence Tan)
(source: Reuters)
