Qatar to slash condensate exports by October 2016
DOHA/SINGAPORE, (Reuters) - Qatar will double its capacity for processing condensate by almost 150 Mbpd in August when trials begin on a new splitter at the Ras Laffan refinery, with commercial production starting by October, a Qatar Petroleum official said.
Condensate exports from Qatar will drop from the current 500 Mbpd to about 350 Mbpd when the 146-Mbpd splitter starts operating.
Qatari condensate exports have already been facing competition from US and Iranian light oil shipments, but the splitter should help the Gulf state soak up some of its condensate at home.
Output of full-range naphtha will double with the start of the new condensate splitter. Part of this would then be used as feedstock for new gasoline and aromatics units that are set to come online in late 2017.
The Qatari unit's start-up will increase Middle East naphtha exports to Asia, which is already struggling with a stubborn supply glut and tepid demand from gasoline producers.
(Reporting by Tom Finn in Doha, and Florence Tan and Seng Li Peng in Singapore; editing by Gareth Jones)
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