Iran targets Europe markets for petchem supply

TEHRAN Nov 30 (Shana)–Iran’s overall revenues from petrochemical exports are estimated at to hit $12bn by the end of the current Iranian calendar year, beginning on March 21, 2013, as the country has plans to deliver cargoes to European petchem customers.
Secretary General of Iran’s Association of Petrochemical Industry Corporation (APIC) said the association is bent on reaching out for international petrochemical markets especially in Europe by enhancing production capacity of the country’s petrochemical plants.

Ahmad Mahdavi Abhari underlined the upward growth of petrochemical industries in Iran in recent years, and said Iran’s petrochemical plants are now dealing with European customers besides their traditional regional customers.

The senior petchem official said the country is expected to muster $22bn by selling petrochemicals to domestic and foreign customers provided that the industry’s numerous unfinished projects come online. 

Iran is currently mulling more serious presence in world petrochemical markets by enhancing massive projects and by endorsing the private sector by financing projects.

Iran’s petrochemical sector holds a 21-percent share in the Middle East market, a senior Iranian official said in October.

Abbas Sheri-Moqaddam, who is head of National Petrochemical Company, said Iran plans to boost its share over the coming five years.

He said that two petrochemical plants are coming on-stream before the end of the current calendar year in March 2015.

“Over the past years, direct [petrochemical] exports to Europe have been halted and therefore our country’s target petrochemical markets have been oriented to Asia, East Asia and the Middle East,” said Sheri-Moqaddam.

Iran produced 40 million tons of petrochemicals in the last calendar year (ended March 20), with $9 billion worth of its products being exported.

The Islamic Republic is determined to become the biggest petrochemical producer in the Middle East.

The country has significantly expanded the range and volume of its petrochemical production over the past few years, and the NPC has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia.

By SHANA

 

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