Danish Topsoe Resumes Petrochem Cooperation

Danish Topsoe Resumes Petrochem CooperationDanish Topsoe Resumes Petrochem Cooperation

Denmark’s Haldor Topsoe, a world leader in catalysis and surface science, has resumed petrochemical collaboration with Iran, project manager of Lavan Industry Development Company said on Monday.

“Bilateral cooperation between the two companies halted in 2014 due to limitations caused by sanctions, but Haldor Topsoe has recently extended the contract on participation in the Iranian company’s projects until 2018,” Mohammad Baqer Faridi was also quoted as saying by IRNA.

Founded in 1940, Haldor Topsoe specializes in the production of heterogeneous catalysts and the design of process plants based on catalytic processes. Over 50% of the ammonia used for fertilizer on a worldwide scale are made with the help of technology from Haldor Topsoe.

"The Danish company was active in transferring technology to Iran’s petrochemical companies," he added. Noting that Lavan Industry Development Company plans to set up a petrochemical complex in the second phase of South Pars Gas Field in Asalouyeh, Faridi said the complex aims to produce 3,000 tons of methanol and 1,000 tons of ammonia per day once it is completed.

Earlier in February, Topsoe said in a press release that it will open an office in Tehran as it has reached an agreement with an Iranian firm to establish a petrochemical plant in the country's south.

Topsoe told Financial Tribune that it signed a contract with Iran's Sharq Eastern Petrochemical Complex for licenses, engineering, proprietary equipment, materials and catalysts to establish a methanol plant in the southern port city of Chabahar.

Faridi stressed that the complex is to be wholly constructed by the private sector and said the plan has made 40% progress in terms of detailed engineering and an overall progress of 15.3%.

“The project was launched in 2010-11 but has not so far had significant progress because of some problems … according to plans, the complex is slated to go on stream in 2019-20,” he said. Denmark's Foreign Minister Kristian Jensen paid a visit to Iran in January at the head of a high-profile delegation comprising representatives of 58 economic enterprises, discussing grounds for cooperation in oil and renewables sectors in separate meetings with senior Iranian officials, including Oil Minister Bijan Namdar Zanganeh.

"The Danes are interested in Caspian Sea projects as well, but we want them to play a role in South Pars … We are willing to expand ties in upstream sector, oil services, petrochemical and refinery [projects]," Zanganeh said.

Iran-Denmark bilateral trade has considerably improved in the past years, reaching $225 million in 2011 from a $70 million in 2000.

However, with a $12 million export and $213 million import, the trade balance has been negative for Iran.