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South Korea's Hunan Petrochemical and Qatar to build large-scale petrochemical project products will be mostly sold to China
Qatar Petroleum Corporation (QP) and South Korea's Hunan Petrochemical Company are set to build a major petrochemical complex in Qatar with a total investment of $2.6 billion. The joint venture will see QP and its subsidiaries owning 70% of the shares, while Hunan Petrochemical will hold the remaining 30%. Construction is scheduled to take place between 2006 and 2009, with production expected to begin in the third quarter of 2009.
The core of the petrochemical complex will feature a mixed feed cracker that uses ethane and naphtha to produce between 700,000 and 900,000 tons of ethylene annually. Part of this ethylene will be converted into propylene through a translocation process. The resulting propylene, along with output from a metathesis conversion unit, will be used to manufacture 700,000 tons per year of polypropylene. In addition, the facility will include a 600,000-ton-per-year styrene plant and a 220,000-ton-per-year polystyrene plant. An aromatics complex will also be built, producing benzene and paraxylene at a combined capacity of 150,000 tons per year. Other ethylene derivatives, such as ethylene glycol, will also be produced.
Any excess ethylene capacity—over 300,000 tons per year—will be sold to local users like Qatar Petrochemical to support the expansion of their polyethylene production. Similarly, surplus styrene will be exported or sold locally.
Hunan Petrochemical will oversee the project’s technology selection, construction, commissioning, operations, and management, as well as sales and research and development. Most of the products will be exported to China, with some reaching markets in Europe and Africa.
This marks Hunan Petrochemical’s first major overseas petrochemical investment. Previously, the company had established a small joint venture in Qingdao, China, focused on producing chlorinated polyethylene. This new project represents a significant step forward in expanding its global footprint and strengthening its presence in the international petrochemical industry.