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Petchem CEO Urges Climate Change Action

Petchem CEO Urges Climate Change Action
(Wednesday, May 3, 2023) 00:03

TEHRAN (NIPNA) -- Morvarid Petrochemical Company's CEO, Asadullah Gholampour, has emphasized the importance of considering climate change when developing industries related to the petrochemical industry.

Speaking at the 14th Iran Petrochemical Forum on Tuesday, Gholampour highlighted the profound changes caused by carbon pollution and greenhouse gases and noted that despite advances in renewable energy, the world still relies heavily on oil and natural gas resources.

He stressed that the production capacity of Iran's petrochemical industry must increase by 40% by 2040 to maintain its share in the world markets.

Gholampour also emphasized the need to extract, refine, and convert hydrocarbon resources according to net-zero carbon standards in line with the Paris Convention.

He predicted that the world's reliance on fossil fuels would reach its lowest level by 2050, and clean and renewable energy technologies such as solar energy and hydrogen for airplane fuel would be critical in the future.

Additionally, Gholampour highlighted the significant amount of natural gas that is burned every year in flares in Iran, which could have been used to supply one third of the country's electricity.

He called for investment in South Pars and other fields, stating that gas production could exceed 1400 million cubic meters per day with an investment of $50 billion in South Pars and $30 billion in other fields.

Gholampour emphasized that crude sales in the fields of crude oil, gas condensate, and LPG created the most burning opportunities for the country.

The conference focused on the development of the petrochemical industry and its future prospects in Iran and the world. It was attended by various experts and key players in the industry.

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