Qatari Emir Tamim Al Thani can be pleased with the results of this week’s trip to the US, where he received glowing praise from President Donald Trump. The emirate has been assiduously courting support from potential allies since its neighbors imposed an embargo in June 2017 and appears to have won the US over.
While Mr Trump initially backed Saudi Arabia and the UAE, the emirate has used its economic clout to win his favor. Qatar Petroleum and Chevron Phillips this week signed an initial agreement to jointly develop a 2mn t/y ethane cracker and associated polyethylene plants (Chevron Phillips 51%, QP 49%) on the Gulf coast on 9 July, with an estimated cost of $8bn. FID on this new project is slated for 2021, with startup in 2024. (CONTINUED - 331 WORDS)