French Air Liquide, Iran ‎sign deal for petrochemical co-op

Business Materials 12 March 2018 17:44 (UTC +04:00)

Baku, Azerbaijan, March 12

By Gazenfer Hamidov – Trend:

Iran's Petrochemical Research and Technology Company (PRTC) signed a deal with the French multinational company Air Liquide for production of propylene from methanol‎.

Under the deal, the Iranian side will share ownership of the license with Air Liquide in manufacturing the methanol through MTP technology, the National Petrochemical Company (NPC) said.

Methanol-to-Propylene (MTP) is an on-purpose technology for producing propylene from methanol, independently of the original feedstock. The technology offers clients low cash costs, and its propylene product can be used as feedstock for a variety of petrochemical processes.

The contract is aimed at building an MTP unit in Iran to produce propylene under the brand of PARS MTP.

Managing Director of PRTC Esmaeil Qanbari said that under the contract the two sides will bring together their latest scientific and technological achievements in the production of propylene from methanol.

In previous such deals, Iran had no role in ownership of petrochemical licenses.

Under the international sanctions which ended in 2016, the PRTC developed MTP know-how and built Iran's first MTP pilot plant in southwestern Mahshahr county.

NPC signed a deal with Lurgi for acquisition of MTP know-how and the related licenses but the company severed its ties with Iran under the sanctions. However following the implementation of the nuclear deal between Tehran and the six world powers, the Germany company returned to Iran to hunt out investment and cooperation opportunities.