Gas Condensate, Petrochem Exports Near $6b

Gas Condensate, Petrochem Exports Near $6bGas Condensate, Petrochem Exports Near $6b

During the first three months of the current Iranian year (began March 21) more than $6.2 billion worth of gas condensate and petrochemical products were exported.

A total of 6,195 tons of gas condensate, valued at $2.6 billion (74.7 trillion rials) were exported in the said period, accounting for 24.7% and 24.2% of the country's total non-oil exports in terms of weight and value respectively.

Around 25% and 33.3% of non-oil exports, in terms of weight and value respectively, pertained to petrochemicals. Petrochemical export in March-June was estimated at $3.6 billion (103 trillion rials), IRNA reported.

Petroleum gases and hydrocarbon gases worth $576 million and liquefied propane valued at $363 million were also among the exported commodities, constituting 7% and 4.6% of total non-oil exports in terms of value.

Iranian petrochemical output is projected to hit 100 million tons, valued at $20 billion, by 2017. According to officials, Iran will be capable of exporting $80 billion worth of petrochemicals by 2021, provided funding for incomplete projects is allocated in time.  There are currently 67 semi-finished projects with a capacity of 60 million tons, the completion of which needs $36 billion.

Iran's main petrochemical exports include methanol, urea, polyethylene and aromatics. According to global estimates, Iran holds 24 percent of Middle East's and 4.2 of the world's petrochemical production capacity.