Baku, Azerbaijan, June 13
By Fatih Karimov – Trend:
Iran is negotiating with Japan to import new technology for producing ethylene glycol, Iran's oil ministry’s SHANA news agency reported June 13.
Iran's Parsian Oil and Gas Development Group Co. (PODGC) is in talks with a Japanese company for receiving the technology of producing ethylene glycol from natural gas, Mohammad Ebrahim Yousefzadeh, the company’s production director, said.
He did not unveil the Japanese firm name.
Yousefzadeh said that the technology of producing ethylene glycol from natural gas is much more cost-effective.
He expressed hope that the talks will be concluded till March 2018.
Ethylene glycol is mainly used for two purposes, as a raw material in the manufacture of polyester fibers and for antifreeze formulations. It is an odorless, colorless, sweet-tasting syrup. Ethylene glycol is moderately toxic.
Iran has the annual capacity of producing up to 63 million tons of various types of petrochemical products and the Islamic Republic plans to increase it to 130 million tons in the next decade.
According to the official sources, Iran should absorb some $50 to $70 billion to complete its half-finished petrochemical projects.
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