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Monday, March 27, 2023

Qatar Energy wins the award for the best petrochemical deal in North America

Qatar Energy won the 2022 North American Petrochemical Deal of the Year award, in recognition of its financing of the Golden Triangle Polymers project.

Qatar Energy was represented at the award ceremony by Mr. Mohammed Khaled Al-Ghanim, Director of the Finance and Financial Control Department, according to the Qatar Energy account on Twitter.

Qatar Energy and Chevron Phillips Chemical Company announced last November their final decision to invest in the establishment of the Golden Triangle Polymers plant in the Gulf Coast region, Texas, USA, at a cost of about $8.5 billion.

The new plant is located approximately 180 kilometers east of Houston and includes an ethylene unit with a capacity of 2.08 million tons per year, making it the largest in the world, and two high-density polyethylene units with a combined capacity of 2 million tons per year, which will make them the largest production units. Derivatives are of its kind in the world, and work on building the factory will start immediately, as production is expected to start in 2026.

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