South Korea

Qatar Reserves 60% of Global LNG Shipbuilding Capacity for $19B-Plus

Qatar Reserves 60% of Global LNG Shipbuilding Capacity for $19B-Plus

State-owned Qatar Petroleum (QP) inked agreements this week with South Korea’s major shipyards, reserving construction capacity to secure more than 100 liquefied natural gas (LNG) carriers over the next eight years in a deal valued at more than $19 billion.

June 2, 2020

Brief — Total Petrochemical

Total Petrochemical, a joint venture of South Korea’s Hanwha Group and France’s Total SA, plans to expand the Desean refining/petrochemicals integrated facility in South Korea to increase ethylene production capacity by 30% to 1.4 million tons/year. Daesan, one of Total’s six world-class integrated platforms and a strategic asset for Hanwha, includes a condensate splitter, steam cracker and polymers, styrene and aromatics units. “The extension will significantly increase the site’s flexibility, enabling it to process competitively priced propane feedstock, which is abundantly available, notably due to the shale gas revolution in the United States,” the company said. The expansion, expected to be completed by mid-2019, would add ethylene production for local demand and supply the nearby fast-growing Chinese market, a significant importer.

April 12, 2017