Qatar plans $800 million gas refinery
Posted: 24 April 2006
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Qatar has laid the foundation stone for an $800 million gas refinery described by its owners as one of the largest being built in the world.
The condensate refinery, to be built in Ras Laffan Industrial City, 80km north of Doha, will have the capacity to process 146,000 barrels per day (bpd) of gas products, according to a news report.
Qatari Crown Prince Sheikh Tamim bin Hamad Al Thani laid the foundation stone of the Laffan refinery, which will be 80 per cent owned by state-run Qatar Petroleum, with US oil major ExxonMobil and France's Total each holding 10 per cent of the shares.
The refinery will come on stream in August 2008, Faisal Al Suwaidi, CEO of Qatargas Operating Company limited which will execute and operate the project, told reporters.
The bulk of its products will go to Asian markets, he said.
A South Korean consortium comprising GS Engineering and Construction Corporation and Daewoo Engineering and Construction Company Limited was awarded the contract to build the refinery and storage and export facilities at Ras Laffan last year.
The refinery will produce liquefied petroleum gas, as well as naphtha, kerosene and gas oil for the export market, a statement said at the time.
Qatar's giant North Field, which has proven reserves of more than 900 trillion cubic feet (25 trillion cubic metres) of natural gas, is the third largest in the world.
The Gulf emirate has launched a multi-billion-dollar industri alisation drive to become the world's top exporter of liquefied natural gas.
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