Qatar Petroleum has signed a $668.7 million deal with a South Korean consortium to build a condensate refinery in the state.

GS Engineering and Construction Corporation and Daewoo Engineering and Construction Company will build Laffan refinery and storage and export facilities at Ras Laffan industrial city.
The refinery, which is expected to be on stream by mid-2008, will process 146,000 barrels per day of North Field condensate to produce liquefied petroleum gas (LPG), as well as naphtha, kerosene and gas oil for the export market.
It will be operated by Qatargas, but participants in the joint venture include Qatar Petroleum, ExxonMobil and Total SA.