He said the average natural gas production was 650 mcm/d.
The official further said that the country’s gas consumption was currently at 540 mcm/d.
The steady increase in Iran’s gas production has provided the domestic petrochemical players with the opportunity to diversify their feedstocks in a bid to tackle the shortages created in the past years.
The insufficient production of vital gas feedstocks has been one of the biggest challenges facing the development of the country’s petrochemical industry throughout the past two decades.
The challenge has mostly been felt by the gas-burning ethane producers struggling with feedstock shortage.
Ethane is among the highest value-added products used as feedstock in petrochemical plants. Each ton of ethane, as the principal element in manufacturing petrochemicals, namely ethylene can generate at least $1,000 in export revenue.
However, in the recent past, the lack of ethane supply made the country to assign a monthly quota of the material to the petrochemical companies.
But the quotas are gradually eliminated as more South Pars Gas Field phases in the Persian Gulf are becoming fully operational. With the development and operation of most phases of South Pars and the countdown for finalization of the remaining phases of the giant gas reservoir on the one hand and the implementation of three crucial gas projects in Assaluyeh and Kangan, the petchem sector will be provided with an abundance of different gas feedstocks.
The domestic demand for ethane is now 5.5 million tons and the envisaged surplus can later be exported.
In general, increasing the production capacity of methane, ethane, propane, butane and gas condensate, will diversify the feedstock baskets of the petrochemical players and thus help them propel their plans despite the cruel economic terrorism imposed by the United States against Iran’s strategic sector.
The last offshore platform of South Pars Gas Field phases 22-24 has become operational, increasing the giant reservoir’s production by 14 million cubic meters per day.
HJ/SHANA303852
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