Iran, Egypt resume gas trade

Business Materials 21 June 2016 13:44 (UTC +04:00)

Baku, Azerbaijan, June 21

By Fatih Karimov – Trend:

Iran has resumed export of liquefied gas to Egypt, Parviz Sahafzadeh, deputy head of Iran’s Petrochemical Employers Association, said.

An Iranian petrochemical company has started the export of liquefied gas to Egypt in the form of spot cargo, Sahafzadeh said without unveiling the firm’s name, Mehr news agency reported June 21.

He also said that more petrochemical products will be exported to Egypt soon.

Egypt has submitted the list of its demanded petrochemical items to Iranian petrochemical companies, he said, forecasting that in the near future agreements will be signed for export of various petrochemical products, including polymers to the African country.

Sahafzadeh further said Iran’s petrochemical delegation held fruitful talks on the sidelines of a meeting of the petrochemical industry working group of the D-8 Organization for Economic Cooperation, which was held in Cairo.

Iranian delegation exchanged views with other seven members of the organization – Bangladesh, Egypt, Indonesia, Malaysia, Nigeria, Pakistan and Turkey – on cooperation in petrochemical sector.

Iran also introduced certain investment opportunities in its petrochemical industry at the Cairo meeting, he added.

Iran has also expressed readiness to export oil and oil products to Egypt.

Iran’s petrochemical output capacity currently stands at 61 million tons. The Islamic Republic hopes to bring this capacity to 120 million tons by 2020 and 180 million tons by 2025.