The agreement was signed on behalf of Qatar Petroleum by His Excellency Abdullah Bin Hamad Al-Attiyah, Second Deputy Premier and Minister of Energy and Industry of Qatar and Linda Cook, Executive Director Royal Dutch/Shell Group of Companies during the 5th Doha Conference on Natural Gas. Also present at the signing were a number of senior executives of Qatar Petroleum and the Royal Dutch/Shell Group.
H.E. Al-Attiyah commented, "the signing of the LOI marks an important milestone for Qatar in its efforts to diversify its economic base and further monetise its considerable hydrocarbon resources. This is the realisation of the directives of His Highness, the Emir, Sheikh Hamad Bin Khalifa Al Thani who has a vision to place Qatar among the leading petrochemical producers in the world. The project clearly provides Qatar with another viable alternative to optimise the use of the country's natural gas resources."
H.E. Al-Attiyah also stated: "We are pleased to have Shell, one of the leaders in this field, enter the petrochemical industry in Qatar, and to witness our relationship take another important step forward. This project represents an alignment of interests and objectives between the two parties and we are confident in its success."
Through this agreement, QP and Shell will define the technical and commercial aspects of the petrochemical complex and determine the derivatives scope. The complex will produce cost competitive petrochemicals products to be marketed into primarily Asian growth markets, with a start-up date early in the next decade. This project strengthens Shell's commitment to building a strong partnership with Qatar to deliver large-scale projects.
Linda Cook commented, "Shell is very pleased to partner with QP on the development of this world-scale ethane cracker project. The signing of this LOI is indeed an important milestone and marks the further development of the strong partnership between QP and Shell, building on the Pearl GTL project and the recently announced QatarGas 4 project. This project clearly combines the strengths of both QP and Shell in the petrochemical industry and represents the basis for delivering long-term value to both Qatar and Shell."
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Qatar Petroleum and Shell sign a Letter of Intent for the development of a world-scale petrochemical complex
- Qatar: Tuesday, March 01 - 2005 at 10:35
- PRESS RELEASE
Qatar Petroleum (QP) and Shell Chemicals Limited (Shell) today signed in Doha a Letter of Intent (LOI) for the development of a world-scale ethane based cracker and derivatives complex in Ras Laffan Industrial City, Qatar.
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For more information visit:www.qp.com.qa for Qatar Petroleum
www.shell.com/chemicals for Shell Chemicals
www.shell.com/qatar for Shell in Qatar
Shell companies have their own separate identities but we may sometimes use "Shell", "Group, "we" or "us" when we refer to Shell companies in general or where no useful purpose is served by identifying any particular Shell company.
Shell Chemicals collectively refers to the companies of the Royal Dutch/Shell Group engaged in the chemicals business.
Shell is a leader in petrochemicals. With a multi-billion dollar turnover and major manufacturing facilities around the world, Shell chemicals companies are among the world's largest petrochemical manufacturers, with proven experience in developing world-scale plants. Shell chemicals companies manufacture and deliver petrochemical building blocks and polyolefins to industrial customers. These products are widely used in plastics, coatings and detergents.
QP and Shell signed an integrated Development and Production Sharing Agreement (DPSA) on July 8th 2004 that provides for the fiscal and legal terms for the Pearl GTL project. The Pearl GTL project comprises the development of upstream gas production facilities as well as an onshore GTL plant in Ras Laffan City that will produce 140,000 barrels per day (bpd) of GTL products as well as significant quantities of associated condensate and liquefied petroleum gas. The project will be developed in two phases with the first phase operational in 2009.
QP and Shell signed a Heads of Agreement (HoA) on February 27th 2005 for the development of Qatargas 4, a large-scale Liquefied Natural Gas (LNG) project located in Ras Laffan City, Qatar. The Qatargas 4 project comprises the integrated development of upstream gas production facilities to produce 1.4 bcf/d of gas including substantial quantities of associated liquids from Qatar's North Field, a single LNG train, yielding about 7.8 million tons per annum of LNG for a period of 25 years, and shipping of the LNG to the intended markets in North America and Europe. Qatargas 4 is a joint venture between Qatar Petroleum and Shell with a 70% and 30% equity interest respectively. LNG deliveries are expected to commence around 2010-2012.
For more information, please contact:
Hussain Al Mahmoudi
External Affairs Manager
Shell Markets (Middle East)
Tel: +9714 33 16 500
Orient Planet PR & Marketing Communications
P.O.Box 23345, Dubai, U.A.E
Tel: +971 4 3988901
Fax: +971 4 3988941
Website: www.orientplanet.com
Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, March 01 - 2005 at 10:35 UAE local time (GMT+4)
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This article was updated on Sun Jan 07 2007.
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