HH the Emir of Qatar Lays Foundation Stone of Laffan Refinery2

Doha, April 01 (QNA) - HH the Emir Sheikh Tamim bin Hamad Al Thani on Tuesday laid the foundation stone of the new Laffan Refinery expansion project (LR2) of Qatargas at a ceremony held at Qatar National Convention Center. The ceremony was attended by HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani, a number of Their Excellencies Sheikhs and Ministers, and managers of the corporations involved in the project. HE Minister of Energy and Industry Dr. Mohammed bin Saleh Al Sada, who is also chairman of Qatar Petroleum (QP), said that the new refinery is another step towards realizing the goals of Qatar National Vision 2030. HE the Minister added that the new refinery will create a high added value as well as more economic opportunities by enhancing Qatar's exports. By the time the refinery is completed in 2016, HE the Minister said, it will have a capacity processing power of 146,000 barrels a day. This would double the State of Qatar's refinement capacity to around 300,000 barrels a day. It would also make Ras Laffan one of the biggest cities in the world in terms of refining oils. His Excellency stressed that the state was keen on maintaining the highest levels in its design and operation. HE Al Sada said that the project will be committed to being environmentally friendly by decreasing the amount of emissions in line with international guidelines. HE Minister of Energy and Industry said that projects such as the Ras Laffan Refinery 2 are one of the best ways to diversify economy as well as attracting foreign investment. For his part, Qatargas Chief Executive Officer HE Sheikh Khalid bin Khalifa bin Jassim Al Thani while addressing the laying stone foundation ceremony, also expressed his pleasure at Laffan Refinery 2 shareholders' trust in his company to start the project. He added that the project is the latest in a series of leading ventures and adds to the promising initiatives in Qatar's energy sector. He stressed that Qatargas has succeeded over the years in the implementation of several high profile projects thanks to its full commitment to technical and operational excellence while maintaining the highest environmental standards. Four years after the inauguration of Laffan Refinery 1, HE Sheikh Khalid bin Khalifa said, Qatargas is joining forces again with its leading partners in this sector to contribute to the development of a new project that would enhance the country's economic growth and provide greater value to the people of Qatar and the company's shareholders. He added that the new refinery will contribute significantly to Qatar's self-sufficiency of high-quality processed products as well as increased revenues from exports. On safety standards at Qatargas, he said the company places it as one of the top priorities during its operations, adding that it's always working on the application of environmental standards and reducing the environmental impact of operations. The ceremony featured a documentary film about partner companies in LR2 and its importance in saving energy. (END)