Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- QR5.5bn Laffan Refinery 2 launched  Join our daily free Newsletter

MENAFN - The Peninsula - 02/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) The Emir H H Sheikh Tamim bin Hamad Al Thani, laid the foundation stone for the new Laffan Refinery expansion project (LR2) of Qatargas at a ceremony held yesterday at Qatar National Convention Center.



The event was attended by the Prime Minister and Interior Minister, H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, H E Dr Mohamed bin Saleh Al Sada, the Minister of Energy and Industry, and a number of top officials and executives



The estimated QR 5.5bn project will effectively double the condensate refining capacity of the Laffan Refinery to 300,000 barrels per day, solidifying the country's unique position as the largest condensate producer with the largest condensate refining capacity in the world.



The LR project aims to build a bridge between present and future generations by optimising Qatar's natural resources and fostering sustainable growth.



LR2 is a joint venture between Qatar Petroleum, Total, Idemitsu, Cosmo, Marubeni and Mitsui. LR2, like LR1, will be operated by Qatargas Operating Company Limited (Qatargas) and the construction works are scheduled to be completed by the third quarter of 2016.



Addressing the event, Dr Al Sada said the new refinery represents another step on the path to achieving the Qatar National Vision. "This refinery is part of an integrated development programme being implemented by all active parties in the energy and industry sector in Qatar to enhance our capability to fulfill diverse energy needs," he said, adding that the new refinery will create added value and new economic opportunities by enhancing our export capacity and fulfilling long term needs of international markets. "Over the years, Qatargas has successfully delivered a series of world class projects that uphold our commitment to technical and operational excellence while maintaining the highest environmental standards. Once again we bring together industry leading partners to stimulate further economic growth for the country and deliver increased value to our people and shareholders," " said Sheikh Khalid bin Khalifa Al Thani, Chief Executive Officer of Qatargas



"As part of Qatar Petroleum's vision and mission we are paying special attention to the development of the downstream petrochemical and refining sector with the clear objective of creating additional opportunities for the production of intermediate and derivative products to satisfy the increasing domestic demand and create new markets for the country," said Mohammed Bin Nasser Al Hajri, Qatar Petroleum Director of Downstream Ventures.



The Laffan Refinery processes condensate, an associated product to natural gas production, that is refined into a number of high-quality products which can be used as lower emission fuels and feedstock for petrochemical production

 


The Peninsula




  MENA News Headlines
 Apr 2 2015 - Iran, world powers race against time to clinch nuke dealThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Iran and the world powers group P5+1 are yet to achieve a framework accord on the nuclear issue despite the end of March deadline approaching fast, a top ...

 Apr 2 2015 - China's new normal and America's old habitsThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) China is generating a lot of confusion nowadays, both at home, where senior officials now tout the economy's "new normal," and abroad, exemplified by ...

 Apr 2 2015 - US General: NATO to decide soon on relocating heavy weaponry in RomaniaThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) NATO is to make a decision soon as to whether to transfer heavy weaponry in Romania as part of its broad response to the Russian aggression in Ukraine, US ...

 Apr 2 2015 - World- 'Dramatic' increase in number of death sentencesThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Many countries are using the death penalty to combat threats against state security, including terrorism, rights watchdog Amnesty International said Tuesday ...

 Apr 2 2015 - Senators urge FIFA to take World Cup away from RussiaThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Thirteen U.S. senators have written to FIFA, soccer's world governing body, urging the organization to replace Russia as host of the 2018 World Cup.Senators ...

 Apr 2 2015 - US food giants Kraft, Heinz announce mergerThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Kraft Foods Group and H.J. Heinz, two of American's largest food companies, announced a merger Wednesday that will create the fifth-biggest food and beverage ...

 Apr 2 2015 - US- The monetarist mistakeThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Ideas matter. That is the lesson of Hall of Mirrors, the American economist Barry Eichengreen's chronicle of the two biggest economic crises of the past 100 ...

 Apr 2 2015 - 47 countries to join Asian Infrastructure Investment BankThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The AIIB is a multilateral development bank proposed by China to provide financing to infrastructure projects in the Asia region.The soaring participation ...

 Apr 2 2015 - Obama to visit ancestral Kenya in JulyThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) U.S. President Barack Obama will travel to Kenya, the homeland of his father, in July to attend the Global Entrepreneurship Summit, Kenya's State House ...

 Apr 2 2015 - U.S. stocks surge along with overseas marketsThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Wall Street rose sharply on Monday amid upbeat economic data and optimistic sentiment from overseas stock markets.The Dow Jones Industrial Average leapt ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help