Qatar Petroleum has signed an agreement with Exxon Mobil to develop a multi-billion dollar petrochemical complex to supply Asian markets, Reuters has reported. Located in the industrial city of Ras Laffan, the complex includes 1.6 million tonnes per year (tpy) steam cracker and associated units including two 650 tpy polyethylene plants and a 700 tpy ethylene glycol facilities. The two firms gave no updated cost estimate for the plant, which was previously estimated to cost around $3bn.