09/02/2015

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IRAQ: Shell, Iraqi government sign agreement for Basra cracker, derivatives project

A Shell spokesperson did not provide specific details, but published reports said the proposed project involved the development of a world-scale ethane cracker and derivatives complex at Basra. Identified as the Nibras complex, the $11-billion project is expected to come on stream in five or six years and make Iraq the largest petrochemical producer in the Middle East, said one report citing Iraq's Industry Minister Nasser al-Esawi. In 2013, Shell and the government of Iraq signed a heads of agreement laying out the major issues for an $11-billion petrochemical complex in southern Iraq. At the time, Hans Nijkamp, Shell's chairman in Iraq, noted: "On the back of an ethane cracker you can have a whole petrochemical industry.” Source: Weekly "PetroChemical News", Durham, NC, USA; 2 Feb 2015
(Syed Rashid Ali, Karachi, Pakistan)

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