Tehran, Iran, June 7
By Milad Fashtami - Trend:
Iran's oil ministry is ready to fully cooperate with domestic and foreign private-sector companies in development of oil, gas, and petrochemical industries' downstream sector.
Iranian Oil Minister, Bijan Namdar Zanganeh said on June 7 that supporting the petrochemical industry is among top priorities of his ministry, according to IRNA News Agency.
"Our main challenge in the petrochemical sector is having access to proper feed including naphtha, gas condensates, and ethane," he explained. "Once all the phases of South Pars gas field come on stream, some 650,000 barrels of gas condensates per day, 6.7 million tons of LPG, and 4 million tons of ethane will be added to the country's production capacity," he said.
Zanganeh went on to add that currently the country has the capacity to refine and transfer 600 million cubic meters of gas per day.
"The figure will reach one billion cubic meters in the near future," he said.
He also noted that using the National Development Fund is another option to develop Iran's petrochemical industry.