Chevron Phillips Chemical and Qatar Petroleum Plans for new petrochemical plant in U.S. Gulf Coast

Specifications:

Name:

Chevron Phillips Chemical and Qatar Petroleum Plans for new petrochemical plant in U.S. Gulf Coast

Location:

Usa

Company:

Chevron Phillips

Estimated Cost:

-

Source:

cpchem.com

Introduction:

Chevron Phillips Chemical Company LLC and Qatar Petroleum today announced they have signed an agreement to jointly pursue development of a new petrochemical plant in the Gulf Coast region of the United States.

Features:

The U.S. Gulf Coast II Petrochemical Project (USGC II) will include a 2,000 KTA ethylene cracker and two 1,000 KTA high-density polyethylene units.

Chevron Phillips Chemical would be the majority owner with a 51 percent share and Qatar Petroleum would own 49 percent of the project. Chevron Phillips Chemical would provide project management and oversight and be responsible for the operation and management of the facility. The preliminary cost of USGC II is approximately $8 billion.

At peak construction, USGC II would support an estimated 9,000 construction jobs and once operational, approximately 600 full time positions. The site’s location would be in the Gulf Coast region, where there is direct access to the significant shale natural gas liquid reserves of the Permian Basin.