Iran plans to increase methanol export by 350%
Baku, Azerbaijan, Nov. 26
By Fatih Karimov - Trend:
Iran plans to increase the volume of its methanol exports by almost 350 percent within the next five years.
The Islamic Republic exported 4.3 million tons of methanol worth $911 million in last fiscal year (ended March 20).
The country’s methanol export during the first seven months of the current fiscal year reached $661 million, 36 percent more in terms of value.
The volume of the exported product in the 7-month period reached 2.4 million, according to the latest statistics of Iran’s customs administration.
The country plans to boost its methanol exports by the next 5 years, managing Director of Tamin Petroleum & Petrochemical Investment Company (TAPPICO), Mohammad Hassan Peyvandi, said.
The official website of Iran’s National Petrochemical Company cited Peyvandi as saying that the export volume of methanol will reach 15 million tons/year by 2022.
He said that Iran has made great achievements in petrochemical industries despite all the difficulties and has dramatically bolstered its methanol output.
The Iranian official added that the country is launching new methanol-to-propane facilities which will come online within the next few years.
The Iranian petrochemical officials plan to double the country’s total methanol production capacity to 10 million tons per year by 2018.
Three petrochemical units including the first phase of Bushehr Petrochemical Complex, Kaveh Methanol Company set to become the world's biggest methanol plant, and Marjan Petrochemical Complex are expected to go on stream in the current Iranian year (to end March 2018).
Iran is expected to produce 56 million tons of petrochemicals by March 2018, almost 10 percent more than last year's level that exceeded the 50-million-ton mark. Nominal production capacity is set to reach 72 million tons.