- DUBAI: Qatar's state oil company and Royal Dutch Shell have signed a tentative deal to jointly develop a petrochemicals complex in the nation.
The deal will give Qatar Petroleum an 80 percent stake in the facility being built in Ras Laffan Industrial City in the north of Qatar.
Shell will hold the remaining 20 percent.
The plant aims to turn Qatar's vast energy reserves into petrochemical products that the companies expect to sell mainly to fast-growing Asian markets.
Financial terms weren't disclosed.
Qatar's last month inaugurated a huge plant run by Shell near the proposed petrochemical plant site to convert natural gas into liquid fuel.