摘要

Qatar continues to generate foreign interest in its petrochemical segment, with ethylene cracker capacity set to hit 6mn tonnes per annum (tpa) by 2012, providing a strong base for the development of new derivative plants, according to BMI's latest Qatar Petrochemicals Report.

Over US$15bn is being invested in Qatar's petrochemicals sector over the next five years, by which time it will become the world's fourth-largest producer. The country is making great strides in the liquefied natural gas (LNG), liquid petroleum gas (LPG) and fertiliser segments as well as ethylene and polymer resins. The government's priority is to double production of urea, ammonia, low-density polyethylene (LDPE), high-density polyethylene (HDPE) and other petrochemicals that can utilise Qatar's large gas reserves as feedstock. By 2012, the country will be producing 16 different petrochemical products with production. Projects due to come online include the 1.3mn tpa QChem/Qatofin cracker (2009), the 800,000-900,000tpa QP-Honam cracker (2011-2012), the 1.3mn tpa QP-ExxonMobil cracker (2012) and the 1.2mn tpa QP-Shell cracker (2012), all of which will be located at Ras Laffan. New facilities will help bring polymer production to around 5mn tpa, while ethylene production is set to reach 6mn tpa. Further expansion will rest on whether proposed projects will receive the necessary financial backing and feedstock allocation.

Foreign interest remains positive, despite the rising construction costs in Qatar's petrochemical industry. In November 2007, the Indian government-owned Gas Authority of India Ltd (GAIL) announced that it was exploring the possibility of setting up an integrated petrochemical mega-complex in Qatar. Qapco has requested GAIL to submit its interest in the project, which would have a 1.9mn tpa ethylene production capacity. Total Petrochemicals announced in May 2007 that it was likely to participate in a third olefins project, a mixed feed cracker, in Qatar. In the fertiliser industry, Qafco signed a letter of intent in November 2007 with Italy's Snamprogetti and South Korea's Hyundai for the construction of the Qafco-5 expansion project, which will cost an estimated US$3.2bn. Qafco-5 construction was set to begin in January 2008 and completed in Q111, when it will have a production capacity of 3.8mn tpa of ammonia and 4.3mn tpa of urea, raising ammonia and urea capacities by 73% and 43% respectively. The Qafco-5 expansion will make Qafco the world's largest single site producer of ammonia and will reaffirm its position as the largest single site producer of urea.

BMI has revised its method of risk scoring in the petrochemicals sector, introducing dynamic scores that reflect on future growth as well as current capacities and the size of the internal market, along with investment risk assessments of the political, economic and regulatory environments. Qatar has retained its third place position in the rankings for Middle East and Africa with 63.8 points, 2.8 points ahead of the UAE and just 0.2 points behind Kuwait. Qatar is also 7.8 points ahead of the regional average of 56.0 points. Qatar's petrochemical-specific ratings are strong, with cracker capacity set to more than treble over the next five years and the country hosting the second-largest polyolefins production capacity in the Gulf Cooperation Council (GCC) after Saudi Arabia. Underpinned by one of the highest levels of GDP per capita in the world and no history of political tension, Qatar remains a bastion of stability in a highly turbulent region. Qatar's weakness is its relative lack of economic diversification compared to other countries in the region.

目录及图表

Chapter 1 - Executive Summary

Chapter 2 - SWOT Analysis

Qatar Petrochemicals Sector Industry SWOT

Qatar Economic SWOT

Qatar Business Environment SWOT

Chapter 3 - Market Overview

Chapter 4 - Qatar Petrochemicals Business Environment

Table: Middle Eastern Rankings

Country Composite Risk Rating

Domestic Feedstock Availability

Petrochemicals Production

Petrochemicals Competitive Environment

Chapter 5 - Industry Trends and Developments

Regulatory

Upcoming Projects

Chapter 6 - Industry Forecast Scenario

Table: Qatar Petrochemicals Sector- Historical Data and Forecasts

Chapter 7 - Economic Outlook

Table: Macroeconomic Data & Forecasts

Business Environment Outlook

Foreign Investment Policy

Chapter 8 - Company Monitor

Profiles

Qatar Petrochemicals Company (Qapco)

Qatar Chemical Company (Q-Chem)

Total Petrochemicals/Qatofin/QVC

Qatar Fertiliser Company (QAFCO)

Qatar Fuel Additives Company (QAFAC)

Qatar Plastic Products Company (QPPC)

Chapter 9 - BMI Forecast Modelling

How we generate our industry forecasts

Chemicals & Petrochemicals Industry

Cross checks