BAKU, Azerbaijan, Sept. 13
By Elnur Baghishov – Trend:
The ethylene transportation through Iran's West Ethylene Pipeline will rise to 3.5 million tons annually by 2026, Deputy Oil Minister and Executive Director of Iran’s National Petrochemical Company, Behzad Mohammadi said, Trend reports citing IRNA.
He made the remark on Sept. 12, during an event dedicated to the signing of a contract between the Oil Industries Commissioning and Operation Company and the National Petrochemical Company of Iran on the management of the West Ethylene Pipeline.
According to him, the West Ethylene Pipeline currently supplies fuel to 13 petrochemical plants, and the number will reach 21 by 2026.
Mohammadi added that the value of products sold through the pipeline will rise to $3.5 billion a year.
The director noted that the pipeline, which was launched in 2012, has so far transported 11 million tons of ethylene.
The deputy minister stressed that the value of products produced from ethylene transported via West Ethylene Pipeline amounted $2 billion a year.
As reported, Iran is planning to export 33 million tons of petrochemical products worth $14.2 billion in the current Iranian year (from March 21, 2021, through March 20, 2022). It is planned to produce 43 million tons of final products in the current Iranian year. About 10 million tons of it will be consumed in the country. In general, the revenues of the petrochemical industry will amount to $21.5 billion this year.
Starting from the second half of the next Iranian year (August 23, 2022), 39 petrochemical facilities are to be put into operation in the petrochemical sector of Iran. In total, 50 facilities are to be put into operation in the next 5 years (until March 20, 2026). Of these, 3 facilities are on the production of mixed fuels, 11 facilities – on the production of propylene, and 33 are development facilities.
Iran's annual petrochemical production potential will increase to 136 million tons in five years, and to 167 million tons with the implementation of strategic plans.
In total, 17 petrochemical facilities at a cost of $11.4 billion were put into operation in the country over the last Iranian year (from March 20, 2020, through March 20, 2021). Thus, the annual production of Iran's petrochemical sector increased from 65 million tons to 90 million tons.
---
Follow the author on Twitter: @BaghishovElnur