Iran's methanol exports up 30 per cent

Iran Materials 18 April 2012 13:48 (UTC +04:00)

Azerbaijan, Baku, April 18/Trend M. Moezzi

Iran's methanol exports grew 30 per cent last year, the Iranian Students' News Agency (ISNA) reports.

Based on customs data, methanol exports from Iran totalled nearly 1.37 billion dollars (USD) last year (Iran's solar year ended on March 19).

Until recently, methanol was produced from non-renewable fossil fuels. Now it is produced by natural gas, an advantage for Iran with its enormous gas reserves.

Methanol is used as an alternative fuel and although the demand for it isn't widespread, that's expected to change because of the damage done to the environment by hydrocarbon fuels.

Iran has a 10 per cent share of the 50 million tons of methanol produced worldwide.

The National Petrochemical Company is tasked with producing 14 million tons of methanol by 2015.