Azerbaijan, Baku, Feb. 25/ Trend F.Milad/
Iran will cut imports of feedstock for its petrochemical units in the nearest future, official at the National Petrochemical Company (NPC) Alireza Basaqzadeh said.
Alireza Basaqzadeh told Mehr news agency that developing six phases of the South Pars gas field will provide some 3.5 million tons of feedstock for petrochemical plants across the country.
For the time being, Iran holds 24.5 percent share and 2.4 percent share in the Middle East's and the world's petrochemical production, respectively, Naftnews news agency reported.
The NPC managing director Abdolhossein Bayat said in July 2011 that the value of Iran's petrochemical exports is expected to reach $14 billion by the end of the current Iranian year (March 21, 2012), Press TV reported.
Bayat stressed that Iran produced more than 40 million tons of petrochemical goods in the last Iranian calendar year.
The statistics show that the Islamic Republic exports annually some $2 billion worth of petrochemicals to 17 European countries.
The country also exported 18 million tons of petrochemical products worth $11.6 billion last year, showing a 26-percent increase compared to two years ago, he added.