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Qatar appears to have scrapped the key $6bn Al-Sejeel Polymers Project only days after a major management shake-up at state oil and gas giant Qatar Petroleum.
State petrochemicals and steel investor Industries Qatar (IQ) says the 2.2mn tons/year, $6bn Al-Sejeel polymers complex at Ras Laffan “has been put on hold, and that a new downstream petrochemical project that is expected to yield better economic returns is instead under study.”
Al-Sejeel was to be developed jointly by Qatar Petroleum (QP - 80%) and Qapco (20%),with QP providing feedstock. Qapco is itself a subsidiary of IQ which has an 80% stake in the petrochemicals producer. France’s Total holds the remaining 20% share of Qapco. (CONTINUED - 752 WORDS)
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