Qatar Petroleum (QP), as part of a restructuring program, has announced plans to withdraw from the joint venture Long Son petrochemical complex in Vietnam, according to a Vietnamese business report. Located in Ba Ria-Vung Tau province, the complex, with an estimated cost of USD 4.5 billion, involves a 1.4 mta olefins cracker to feed downstream production of 2.7 mta of polyethylene and polypropylene. Operations are expected to begin in 2018. The project is a joint venture owned 25% by QP, 46% by Siam Cement Group and 29% by Petro Vietnam. The investors met recently to arrange for the transfer of QP's stake but failed to reach an agreement.