Quotes: US 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

 






  MENA News Headlines
 Jul 25 2014 - Gilas Last Home Stand that never wasArab News
(MENAFN - Arab News) E fiasco that happened on Tuesday night in what was supposed to be the first of two tune-up matches for Gilas Pilipinas against a crack NBA selection certainly left a bad taste ...

 Jul 25 2014 - Indian Tech Mahindra, Saudi Midad Holding sign dealMENAFN
(MENAFN) Indian IT giant Tech Mahindra Ltd has signed a joint venture with Midad Holding to expand its existence in Saudi Arabia, according to Arabian Business.The JV will be called Tech Mahindra ...

 Jul 25 2014 - Kuwait's Jazeera profit falls in H1MENAFN
(MENAFN) Rising fuels costs and forced rerouting of flights due to unrest in the Middle East affected the net profits of Kuwait's Jazeera Airways Group in the first half of 2014, according to Arabian ...

 Jul 25 2014 - Dubai's R&B launches two stores in SaudiMENAFN
(MENAFN) The Dubai-based giant Apparel Group's fashion arm R&B, most recognized for its exciting portfolio of international fashion and accessories brands, plans to open two stores in Dhahran and ...

 Jul 25 2014 - Adam Levine offers Knightley recording dealKhaleej Times
(MENAFN - Khaleej Times) Dam has just started a label called 222 Records and has been trying to persuade Keira to sign a deal with him the source added.Photo: AgenciesKeira Knightley has been ...

 Jul 25 2014 - Beyonce Jay Z started to go their separate waysKhaleej Times
(MENAFN - Khaleej Times) E source also added that the tour will be the last for Jay Z 44 and Beyonce 32 after marriage counsellors failed to help them get their relationship back on track.Photo: ...

 Jul 25 2014 - Casablanca piano up for sale in New York in NovemberKhaleej Times
(MENAFN - Khaleej Times) Lsons character Sam first played the song on the piano for Bogarts character Rick and Bergmans Ilsa when they fell in love in Paris as Nazi troops advanced on the French ...

 Jul 25 2014 - Im very old-fashioned: BhagyashreeKhaleej Times
(MENAFN - Khaleej Times) Ine Pyar Kiyas Bhagyashree indulges in a bit of nostalgia as she talks up her new TV series Supplied photoThe lovely and seemingly ageless Bhagyashree is probably best known ...

 Jul 25 2014 - Daily probiotics may regulate blood pressureKhaleej Times
(MENAFN - Khaleej Times) Ring the study researchers analysed results of nine high-quality studies examining blood pressure and probiotic consumption in 543 adults with normal and elevated blood ...

 Jul 25 2014 - Al-Athr showcases abstract and geometry inspired works of artArab News
(MENAFN - Arab News) Ddah's Al-Athr Gallery is hosting the abstract and geometry inspired work of 40 local and international artists until Oct. 10.The gallery opened its door in 2009 and has already ...

more...


 






Google

Live Currency Rates

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help