CPChem, QatarEnergy finalize financing on $6 bn Ras Laffan, Qatar, petrochemicals project

(Business Wire, San Francisco, 9 October 2023) Ras Laffan Petrochemicals, a joint venture company owned 30% by Chevron Phillips Chemical and 70% by QatarEnergy, today announced that it has secured $4.4 billion to finance an integrated polymers facility to be located in Ras Laffan Industrial City, Qatar. The project financing comprises commercial and Islamic lenders and a group of export credit agencies. Finalizing the financing is a key milestone in the development of the 435-acre petrochemical project, which will include the largest ethane cracker in the Middle East and one of the largest in the world. The two companies also are constructing a joint venture integrated polymers facility on the Texas Gulf Coast, which is expected to be operational in 2026.  [No information is available on which ECAs are involved.]