Qatar is planning to build a solar power plant, it was claimed in a report on Thursday. The idea for a $1 billion solar power plant was first suggested at an exhibition in Doha in May, according to a local report. Around 25 local and international investors have emerged as potential partners for the project. Shadi Abu Daher, regional manager of the World Trade Center, said that the cost of construction in Qatar has declined by around 40 percent since the onset of the global recession and the drop in prices for raw materials. Consultants AT Kearney said the Middle East region has the opportunity to become a “boom center” for solar energy within the next ten years and the industry may create up to 100,000 new jobs Investment in solar energy could create annual revenues of $90 billion for the region, the report added. Last year, World Bank announced plans to invest $5.5 billion into solar energy projects in the region. Meanwhile, Exxon Mobil Corp. has agreed with Qatar Petroleum to develop a petrochemical complex fueled by a giant natural-gas field in Ras Laffan Industrial City, Qatar. The companies anticipate the facility opening in late 2015. It would include what they called the world's largest steam cracker and polyethylene plant and one of the world's biggest ethylene and glycol plants. Exxon has helped Qatar Petroleum develop the North Field over the past decade and export natural gas from it in liquefied form. The announcement was made by Abdullah bin Hamad Al-Attiyah, Qatar Deputy Premier, Minister of Energy and Industry and QP Chairman, and by Steve Pryor, president, ExxonMobil Chemical Company, at a signing ceremony held in Doha. “ExxonMobil Chemical is looking forward to working with Qatar Petroleum to develop this world-class petrochemical complex featuring ExxonMobil's industry-leading, proprietary technology.” “Teams from Qatar Petroleum and ExxonMobil have worked together to develop a leading-edge project that will meet the growing global demand for petrochemical products,” added Pryor. “ExxonMobil Chemical is looking forward to working with Qatar Petroleum to develop this world-class petrochemical complex featuring ExxonMobil's industry-leading, proprietary technology.” The proposed petrochemical complex would include a 1.6 MTA steam cracker, two 650 KTA gas phase polyethylene plants, and a 700 KTA ethylene glycol plant. The project will employ ExxonMobil's proprietary steam cracking and polyethylene process, and product technologies. It will utilize feedstock from gas development projects in Qatar's North Field and produce a range of premium products to serve global petrochemical demand, with a particular focus on the growing Asia markets. Start-up of the proposed facility is estimated in late 2015. Qatar Petroleum and ExxonMobil are currently working together to diversify the use of Qatar's North Field gas including the expansion of facilities to deliver liquefied natural gas resources to targeted markets, and the supply of pipeline gas to domestic customers.
