Laffan Refinery 2 Cost QR 3 Billion

The cost of Laffan Refinery 2 amounted to QR 3 billion, with the facility set to double Qatar's condensate refining capacity to 292,000 barrels per day, Qatar Petroleum announced. 
"This inauguration is the result of the wise leadership and directives of HH the Emir Tamim bin Hamad Al-Thani, and is another step on the road to a better future as mapped by Qatar Vision 2030, which was launched by His Highness," Qatar Petroleum President and CEO, and the Chairman of Qatargas Board of Directors, Saad Sherida Al Kaabi, said in a speech at the Laffan Refinery 2 inauguration ceremony. 
"We, in Qatar Petroleum in its subsidiaries and joint ventures, have been working to achieve the pillars of this Vision, and have worked to ensure the wise and prudent management of our hydrocarbon resources, the calculated and diverse investment, the development of the Qatari citizen, and the ability to implement our projects with the highest international environmental standards." he added. 
Al Kaabi noted that by adding this project to Laffan 1, "the refining capacity will double to 292,000 barrels per day, which is equal to 100 million barrels per year, making Ras Laffan Industrial City one of the biggest condensate refining locations in the world." On the inauguration of Laffan Refinery 2 while oil prices continue declining, Al Kaabi said that oil market is always experiencing price changes, adding that the project was inaugurated in accordance with its schedule and will work over 25 years. 
The Refinery production will be directed to meet domestic consumption Al Kaabi said, adding that it is difficult to determine the percentage of export surplus because it depends on domestic demand. 
He explained that the design of Laffan Refinery 2 was identical to that of Laffan 1, adding that Laffan 2 will play an important role in the development of the oil and gas sector in Qatar. 
Qatargas Chief Executive Officer HE Sheikh Khalid bin Khalifa Al-Thani, said the company has a "distinguished track record for constructing and managing innovative facilities" such as Laffan Refinery 2. 
"This new refinery is a clear demonstration of Qatargas' ability to manage and operate our resources safely, efficiently and reliably, and further strengthens our reputation for value creation and operational excellence. At Qatargas, we are proud of the trust bestowed upon us to enhance Qatar's leadership position in the energy sector," he said. 
Laffan Refinery 2 not only creates vale for Qatar and its shareholders, but also adheres to the highest environmental standards through low gas emissions, zero flaring during normal operation, and zero waste water discharge to the sea. In addition, it includes a waste water recycling facility which treats industrial water from Laffan Refinery 1 and Laffan Refinery 2. The recycled water is then re-used as boiler feed water and cooling water, thereby reducing water consumption and eliminating the discharge of treated industrial water. 
The new refinery processes condensate to produce five high quality products. These products support the energy and industry sectors by providing energy sources and raw feedstock material, namely naphtha, kerojet (A-1), diesel and liquefied petroleum gas in the form of propane and butane. It also creates new economic opportunities by enhancing export capacity and therefore the ability to supply international demand for energy.
Qatargas, the world's premier LNG company, operates the refinery on behalf of Laffan Refinery 2's shareholders: Qatar Petroleum (84 percent), Total (10 percent), Cosmo (2 percent), Idemitsu (2 percent), Mitsui (1 percent) and Marubeni (1 percent). 
Qatargas, established in 1984, pioneered the LNG industry in Qatar and today is the largest producer of LNG in the world with an annual production capacity of 42 million tons per annum (MTPA) from its world-class facilities in Ras Laffan Industrial City, Qatar.

Source: QNA