Petrochem Production to Hit 42m Tons

Petrochem Production to Hit 42m TonsPetrochem Production to Hit 42m Tons

Petrochemical output will surpass 42 million tons in the present Iranian calendar year (ending March 2015), supervision director of the National Petrochemical Company (NPC) said, Shana news agency reported Friday.

“Due to feedstock shortages, petrochemical industry is working at 73 of its capacity,” Ali-Mohammad Basaghzadeh said, adding that Karun, Arvand, Rejal, Laleh and Razi petrochemical complexes are working currently at 90-percent capacity. The official stated that work at several petrochemical complexes came to a halt last year due to shortage of methane as their main feedstock.

“Last year, petrochemical output was slashed 1.5 million tons year-on-year due to shortage of feedstock, but this is unlikely  this time as production in South Pars has increased.” According to reports, Iran was faced with 160-million-ton gas shortage last year during the peak demand period.

Additionally, there are plans to increase gas output in the South Pars gas field in the Persian Gulf by 100 million cubic meters (mcm), of which 75 mcm has been fulfilled. Oil Minister Bijan Namdar Zanganeh has said that the 100-mcm target would be reached by March, 2015.

South Pars is the world’s largest gas field, shared between Iran and Qatar, covering an area of 3,700 square kilometers of Iran’s territorial waters in the Persian Gulf. It adjoins Qatar’s North Field, which measures 6,000 square kilometers.