QatarEnergy, Chevron Phillips Secure $4.4 Bln Financing for Petrochemicals Project

(Asharq Al-Awsat, London, 1 July 2024) QatarEnergy and Chevron Phillips Chemical Company LLC announced on Monday [10 October 2023?] that they have secured $4.4 billion financing for the Ras Laffan Petrochemicals project. The project financing comprises commercial and Islamic lenders and a group of export credit agencies. “This oversubscribed financing package is an important testament to the financial community’s confidence in Qatar and in its energy and petrochemical industries,” said Qatar's Minister of State for Energy Affairs and President and CEO of QatarEnergy Saad bin Sherida al-Kaabi. Ras Laffan Petrochemicals is a joint venture company owned 30% by Chevron Phillips Chemical and 70% by QatarEnergy, the statement added. [Interestingly a search of dozens of web sites on this project does not find any names of the commercial, Islamic or ECA financers of the $4.4 million!]