The international oil company (IOC), Chevron Phillips, and the national oil company (NOC), Qatar Energy (QE), signed a heads of agreement (HoA) to build and operate an estimated $8 billion-worth petrochemicals project on the US Gulf of Mexico coast, under the name Golden Triangle Polymers.
This is the second petrochemicals project QE and Chevron Phillips Company have announced to move forward with, on a joint venture (JV) basis, such Golden Triangle Polymers.
In June 2019, the two companies had announced their decision to build a petrochemical facility in Ras Laffan Industrial City in Qatar.
Chevron Phillips and QE selected the US Gulf Coast region, where there is direct access to significant ethane quantities produced by US shale basins, including the prolific Permian Basin.
For now, the firms are still evaluating different locations for the project in Texas.
In the project, the working interests will be shared between:
– Chevron Phillips 51% is the operator
– QE 49%
As operator, Chevron Phillips will provide project management and oversight, it will be responsible for the operation and management of the facility.
The petrochemicals complex should see the construction of the world’s largest ethane cracker with a capacity of 2 million tonnes a year (t/y) of ethylene.
It should also host two high-density polyethylene (HDPE) plants of 1 million t/y each.
The front end engineering and design (FEED) work should start on early 2020 with series of engineering, procurement and construction (EPC) contracts to follow in 2022 for a completion expected in 2026.
— October 2020 —
Project frozen in the context of the Covid crisis.
But Fluor and JCG completed the FEED for the ethylene cracker.
— November 2021 —
QE and Chevron Philipps selected:
- Technip Energies to perform the FEED on the Ethane cracker
- Daelim (DL E&C) to perform the FEED on the PolyEthylene unit
The project in Qatar and the one in USA are very similar except on the financial aspects as the operator ship roles are inverse.
These giant projects confirm the still growing demand for hydrocarbon products.
The US Gulf Coast project should move into execution in 2023.
— November 2022 —
Golden Triangle Polymers selected:
- JGC and Kiewit to perform the EPC contract for the ethylene cracker
- Technip Energies to perform the EPC work for the ethane cracker
- Daelim (DL E&C) and Zachry Industrial to perform the EPC contract on the PolyEthylene unit
Kiewit and JGC will work under a joint venture called JKJV.
Zachry Industrial and DL E&C USA will work under a joint venture called ZDJV.
Technip Energies will perform the EPC work through its local subsidiary, Technip Stone & Webster Process Technology. Technip Stone will partner with PCL Industrial Construction for the construction work.
— March 2023 —
Project is now under construction as the breakground ceremony has been celebrated, the project should operate by 2028.
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