SHANA-- Iran will be exporting 15 million tons/year of methanol by 2022, an Iranian petrochemical official says.

Addressing a specialized conference on nitrogen and synthesis gas, Managing Director of Tamin Petroleum & Petrochemical Investment Company (TAPPICO) Mohammad Hassan Peyvandi said Iran has plans to boost its methanol exports and propane prodcution by the next 5 years.

Iran's petrochemical industry has improved a lot in recent years despite many regional challenges including international sanctions, glut of petrochemical products in the market and arrival of North America's shale oil and gas which led to the downward trend of prices.

He said Iran has made great achievements in petrochemical industries despite all the difficulties and has dramatically bolstered its methanol output.

Moreover, Peyvandi added, the country is launching new methanol-to-propane facilities which will come online within the next few years.