ExxonMobil Advances Qatar Chemical Plan

ExxonMobil Chemical and Qatar Petroleum have agreed to "progress studies" on a $3 billion petrochemical complex in Ras Laffan, Qatar. The facility would include a 1.3 million-metric-ton-per-year ethylene cracker, as well as downstream polyethylene and ethylene glycol units. It is expected to be completed in 2012. ExxonMobil will join other foreign petrochemical investors in the Persian Gulf state. Chevron Phillips Chemical and Qatar Petroleum started up an ethylene-based complex there in 2003. Total Petrochemicals, Chevron Phillips Chemical, and Qatar Petroleum are involved in another ethylene complex, and Shell Chemicals is considering a joint venture in the country.