Golden Triangle Polymers plant FID taken by CPChem and QatarEnergy
Chevron Phillips Chemical (CPChem) and QatarEnergy have arrived at a final investment decision (FID) to construct the Golden Triangle Polymers plant, a new petrochemical facility in Orange, Texas with an investment of $8.5 billion.
To this effect, the companies have formed Golden Triangle Polymers Company, a joint venture in which Chevron Phillips Chemical holds a 51% equity share while QatarEnergy owns 49%.
The Golden Triangle Polymers plant will include a 2,080 KTA ethane cracker and a couple of 1,000 KTA high-density polyethylene plants.
The petrochemical project also includes a rail and storage-in-transit yard.
Saad Sherida Al-Kaabi — Qatar Minister of State for Energy Affairs and QatarEnergy President and CEO said: “We are excited to announce taking the FID on our largest petrochemical investment ever, highlighting QatarEnergy’s integrated position as a major player in the LNG and international exploration sectors, as well as being a global petrochemicals producer.
“This important project will complement QatarEnergy’s growing portfolio, both internationally as well as in the United States, and will help meet growing global demand for polymers. It builds on our long-term and successful partnership with Chevron Phillips Chemical, and we look forward to further collaborations in the future.”
Chevron Phillips Chemical, QatarEnergy take FID on $8.5bn Golden Triangle Polymers plant in Orange, Texas. Photo courtesy of QatarEnergy.
The new polymers facility in Orange is anticipated to provide over 500 full-time jobs and around 4,500 construction jobs as well as generate a projected $50 billion for the community in residual economic impacts over 20 years.
With around 25% lower greenhouse gas emissions, the Golden Triangle Polymers plant will produce Marlex polyethylene, which is used for the production of durable goods and essential packaging applications.
Bruce Chinn — Chevron Phillips Chemical President and CEO said: “Chevron Phillips Chemical and QatarEnergy have collaborated for over 20 years on the assets we operate together in Qatar.
“Our products help make life better for billions of people every day, and they are part of a lower carbon future.
“This facility will help meet the growing demand for our products and improve the quality of life for the world’s growing global population.”
ZDJV, a joint venture between Zachry Industrial and DL USA, will perform the engineering, procurement, and construction of the polyethylene units.
Chevron Phillips Chemical, which is a joint venture between Chevron Corporation and Phillips 66, will manage engineering, procurement, and construction for the Golden Triangle Polymers plant and run the facility once it becomes operational in 2026.