Iran petchem output to hit 100mt if sanctions ease: NPC chief
Iran's annual petrochemical production capacity would plateau at 100 million tons from the current 60 million tons by 2020 if Western governments ease their sanctions, a deputy minister of petroleum says.
“In case petrochemical sanctions are eased to facilitate transfer of currency and technology…, we can hope for Iran’s petrochemical production capacity to soar from the current 60 million tons to 100 million tons” by 2020, Abbas She’eri-Moqaddam was quoted as saying in Jahan-e San’at daily newspaper.
She’eri-Moqaddam, who is also head of National Petrochemical Company (NPC), said the country’s petrochemical output is to experience a 7-million-ton jump next calendar year as 14 petrochemical projects are planned to come on-stream.
He said Iran expects to see its petrochemical production capacity increase 1.3 million tons by next March which marks the end of Iran’s calendar year,
Iran produced 40 million tons of petrochemical products in the last calendar, with USD 9 billion gained from exports. Iran predicts to obtain around USD 12 billion from petrochemical exports this calendar year.
Iran is determined to become the leading producer of petrochemicals in the Middle East.
The country has significantly expanded the range and volume of its petrochemical production over the past few years, and the NPC has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia.
Iran is in talks with six world powers – the United States, France, Britain, China, Russia and Germany – in the hope of a permanent nuclear deal that would ease sanctions against the Islamic Republic.
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