The integrated refinery and petrochemical complex will have world-scale production capabilities to produce refined fuels and petrochemical products. PetroChina will have a 51% shareholding, Qatar Petroleum International (QPI) will account for a 24.5% stake, while Shell China owns 24.5%.

Abdulla Al Attiyah, chairman of QPI and Qatar’s minister of energy and industry, said: This step will help draw up a road map for setting up economic bridges between Qatar and China and opens investment opportunities. On this occasion, I am very pleased that Shell has joined QPI’s first project in China, and pleased to be partnering with PetroChina.

We have here a great opportunity for our respective companies to reinforce their business relationship and to play a significant role in the refining and petrochemical sectors in China.