Exxon Mobil Corporation said its Qatar subsidiary has signed an agreement with Qatar Petroleum to jointly develop a mult-million dollar petrochemical complex in Ras Laffan Industrial City, Qatar.

The proposed complex would include the world's largest steam cracker and polyethylene plants, and one of the world's largest ethylene glycol plants, said the two companies.

The start-up of the proposed facility was likely in late 2015, said Abdullah bin Hamad Al-Attiyah, Qatar Deputy Premier, Minister of Energy and Industry and QP chairman, and Steve Pryor, president, ExxonMobil Chemical Company, at the signing ceremony held in Doha on Wednesday.

“The State of Qatar has embarked on ambitious programs to utilize and develop its hydrocarbon resources. This agreement represents another important step to achieve the vision of His Highness the Emir Sheikh Hamad Bin Khalifa Al-Thani, for the optimal utilization of the country’s natural resources,” Al-Attiyah remarked.

'Teams from QP and ExxonMobil have worked together to develop a leading-edge project that will meet the growing global demand for petrochemical products,' said Pryor.

'ExxonMobil Chemical is looking forward to working with Qatar Petroleum to develop this world-class petrochemical complex featuring ExxonMobil’s industry-leading, proprietary technology,' he added.

The proposed petrochemical complex would include a 1.6 MTA steam cracker, two 650 KTA gas phase polyethylene plants, and a 700 KTA ethylene glycol plant.

The project will employ ExxonMobil's proprietary steam cracking and polyethylene process, and product technologies. It will utilize feedstock from gas development projects in Qatar's North Field and produce a range of premium products to serve global petrochemical demand, with a particular focus on the growing Asia markets, the duo said.

QP and ExxonMobil are currently working together to diversify the use of Qatar’s North Field gas including the expansion of facilities to deliver liquefied natural gas resources to targeted markets, and the supply of pipeline gas to domestic customers.-TradeArabia News Service