Iran’s methanol potential rival for US shale gas

TEHRAN, Dec. 29 (MNA) – Deputy Head of National Petrochemical Company (NPC) has predicted Iran would become a serious rival for the US shale gas productions in near future.

Mohammad Hassan Peyvandi told reporters that Iran is the only country in the world that possesses all necessary capacities for developing petrochemical industry.

“Having been situated at the Persian Gulf, proximity to Indian and Chinese markets, as well as ease of access to gas and liquid feed are some of the advantages Iran’s petrochemical industry enjoys compared to any other country,” he added.

Peyvandi expressed hope that once the half-finished methanol projects are seen through in the next five years, Iran’s methanol production capacity will reach 25 million tons per year, thus turning the Islamic Republic into one of the biggest and most influential countries in the world’s methanol market.

“The export of the US shale gas products requires creating transport capacities and preparing petrochemical units in European countries. It would be much cheaper for these countries to import from Iran and the Middle East instead of the United States,” he added.

Currently, Iran has the capacity to produce 60 million petrochemical products per year. Launching some 60 projects in the next year will increase the production capacity up to 180 million tons per year, as predicted by deputy head of NPC.

Iran’s petrochemical industry consumes 5 percent of the country’s gas and liquid carbohydrates, producing more than 41 million ton products and contributing to 40 percent of the non-oil exports.

 

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MNA
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News Code 105274

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