An agreement marking the positive final investment decision (FID) for the project was signed that companies created a joint venture (JV), Ras Laffan Petrochemicals, in which QatarEnergy owns a 70% equity share and Chevron Phillips Chemical owns 30%. The 435 acre project site will include an ethane cracker with a capacity of 2.08 mta of ethylene, making it the largest ethane cracker in the Middle East and one of the largest in the world. It will also include two high-density polyethylene derivative units with a total capacity of 1.68 mta. Chevron Phillips Chemical will provide project management services. Construction began with early works at the site in June 2022, and start-up is expected in late 2026. The engineering, procurement and construction (EPC) of the ethane cracker will be executed by a JV between Samsung Engineering CO., Ltd. and CTCI Corp.