(Refiled with full name of state news agency)
DUBAI Jan 12 Qatar Petroleum and Exxon Mobil's
(XOM.N) planned petrochemical complex will cost about $6
billion, Qatar's oil minister said in a speech carried by the
Kuwait's state news agency KUNA.
That was about double the initial estimated cost of the
plant. The two companies gave no updated cost estimate when they
announced they had signed a deal to build the complex last week.
The plant would be 51 percent owned by Qatar Petroleum and
was due to start up in fourth quarter of 2015. It would include
one of the largest ethylene glycol plants in the world, Attiyah
The complex in the industrial city of Ras Laffan includes a
1.6 million tonnes per year (tpy) steam cracker and associated
units including two 650 tpy polyethylene plants and a 700 tpy
ethylene glycol facilities,
Qatar is the world's largest producer of liquefied natural
gas (LNG) and Exxon is the largest foreign investor in the Gulf
Arab state. Exxon has stakes in several of Qatar's LNG projects.
In a separate report on Qatar's state news agency QNA, an
Exxon executive said the company would spend around $100 million
in Qatar on reducing carbon emissions.
(Writing by Amran Abocar; Editing by Simon Webb)