Golden Triangle Polymers Company, a joint venture between Chevron Phillips Chemical Company and QatarEnergy, completed the project financing of an integrated polymers facility in Orange, Texas. Chevron Phillips Chemical owns a 51 percent equity share in the joint venture and QatarEnergy owns 49 percent.
The project was designed using modern emissions reduction technology and is aiming for approximately 25 percent lower greenhouse gas emissions than similar facilities in the United States and Europe, supporting the company’s efforts to help enable a lower carbon future.
Preparation of the project for launch stretched across more than 18 months under challenging conditions during the COVID-19 pandemic, a changing geopolitical landscape and policies by central banks across the world to raise interest rates and combat inflation. Chevron Phillips and QatarEnergy have been working together for more than 20 years on projects, and the Golden Triangle project will be QatarEnergy’s largest petrochemical investment ever.
The S&C team advising Golden Triangle Polymers Company included Stewart Robertson, Inosi Nyatta, Sam Saunders, Nick Baker, Walter Piazza, Dermot Costello, Kelvin Yang and Kenneth Lee. Craig Jones and Gabriel Opris in London advised on English-law issues. Michael Orchowski, Andrew Thomson and Tristan Hood advised on tax matters. Eric Kadel advised on sanctions and anti-corruption laws. Mehdi Ansari and Daniel Stern advised on intellectual property. Matt Brennan advised on environmental matters.
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