Baku, Azerbaijan, Feb. 28
By Fatih Karimov - Trend:
Iran plans to revise its petrochemical industry roadmap in order to hold off some methanol and urea producing projects, Hamid Reza Rostami, an official with the Iran's National Petrochemical Company said.
Considering the global energy market condition as well as slow progress of the petrochemical projects during the sanctions period, some revises will be made in the priority of the projects within the 2025 far-term plan, Rostami said, the oil ministry's official SHANA news agency reported Feb. 28.
It was already planed that Iran's methanol output to reach 25 million tons by 2025, meanwhile it revised to 16 million in new roadmap, he added.
Based on the changes in the roadmap urea output also will be decreased to 12.5-13 million tons from 16 million, Rostami said.
The National Petrochemical Company is implementing some 55 projects, the official said, adding about ten projects will be revised in order to decrease urea and methanol output in the 2025 outlook.
Iran's petrochemical output hit 44.4 million tons in the past Iranian fiscal year, 10 percent more year-on-year. Petrochemical complexes in Iran had to work below the actual production capacity due to the shortage of natural gas as feedstock, old production units, and the problem of sanctions, which has caused a decline in exports.
The output is expected to remain unchanged this fiscal year (to end March 2016), meanwhile it is forecasted that the actual petrochemical production level will reach 52 million tons the next fiscal year.
Iran's petrochemical output capacity currently stands at 60 million tons. The Islamic Republic hopes to bring this capacity to 120 million tons by 2020 and 180 million tons by 2025.
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