Al-Karaana Petrochemicals Complex, Qatar to be largely ECA financed

(Chemicals-Technology News, London, 13 March 2013) Al-Karaana Petrochemical Complex is a proposed olefins and derivatives plant, which will be located at Ras Laffan Industrial City in northern Qatar. The project is being developed by a joint venture (JV) of Qatar Petroleum (BP), which holds an 80% share in the project, and Shell, holding the remaining 20% share. The BP-Shell JV is expected to invest $6.4bn for the construction of the petrochemicals plant. Trade Finance Magazine reports that export credit agencies will be a major source of financing for the $6.5 billion complex, according to remarks made by Qatar’s Minister of Energy and Industry.