Shell and Qatar Petroleum Sign Petchems Deal; Shell to Hold Minority Stake

Shell and Qatar Petroleum have signed a heads of agreement for the development of a previously announced multi-billion dollar petrochemical production joint venture in Qatar. Total investment cost has been estimated at $6.5 billion. The agreement was signed in Doha yesterday by Mohammed bin Saleh Al Sada, Minister of Energy and Industry of Qatar, and Peter Voser, CEO of Shell. It “sets the scope and commercial principles for the development of a world-scale petrochemicals complex” at Ras Laffan, Qatar, the companies say. Shell will hold a minority 20%...

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