Construction has begun at Ras Laffan's project site. The petrochemical complex in Qatar, which will require a total investment of US$6bn until its completion, is under development by QatarEnergy in partnership with Chevron Phillips Chemical (CPChem).

A final investment decision (FID) on Ras Laffan was made in January 2023. In October, the initiative had already secured US$4.4bn in financing. The complex is planned to have an ethane processing plant with a capacity of 2.1 million tonnes per annum (mtpa) of ethylene.

The foundation stone of the integrated polymers complex was laid in a ceremony by the Amir of the State of Qatar Sheikh Tamim bin Hamad Al Thani.

Project management services are carried out by CPChem. Operations are scheduled to start in 2026, when Ras Laffan will officially be the largest ethane cracker in the Middle East.