Abbaszadeh announced that the petrochemical industry's capacity will
reach 103 million tons by the end of 2024, with 83 million tons expected to be
produced this year, of which 48 million tons will be sold domestically.
He outlined the sector's development plans at the closing ceremony of
the 15th International Petrochemical Industry Conference in Iran.
The official noted that approximately 34 million tons are projected
for export, while around 14 million tons will cater to the domestic market.
Identifying Saudi Arabia as Iran's primary regional competitor,
Abbaszadeh compared the two nations' production capacities, stating that both
countries have a capacity of approximately 7 million tons for ammonia. However,
he highlighted that Iran's capabilities in methanol production are about twice
that of Saudi Arabia, with Iran producing 16 million tons compared to Saudi
Arabia's 8 million tons.
He further detailed that Saudi Arabia's ethylene production capacity
stands at 18 million tons, while Iran's is 8 million tons. He emphasized the
importance of increasing propylene production, stating that Iran currently
produces less than 1 million tons of propylene due to its reliance on ethane
for ethylene production. In contrast, Saudi Arabia, with its higher ethylene
output, produces around 7 million tons of propylene.
Describing propylene as a cornerstone of the value chain, Abbaszadeh
lamented the low propylene production in Iran as a significant factor hindering
the completion of the value chain. He urged the industry to leverage its 16
million tons of methanol capacity to increase propylene production.
He projected that Iran's petrochemical production will reach 74
million tons in 2024, including 10 million tons of methanol, 5 million tons of
ammonia, 7 million tons of ethylene, and approximately 8 million tons of urea.
Looking ahead, Abbaszadeh stated that around 60 to 61 petrochemical
projects are expected to be completed under the Seventh Development Plan,
creating 35 million tons of capacity. Currently, these projects are over 50%
complete and require about $24 billion in investment.
He indicated that the Eighth Development Plan will add another 48
million tons of capacity, with projects still in the early stages. This will
increase the petrochemical capacity from the current 96 million tons to 132
million tons by the end of the Seventh Plan and 186 million tons by the
conclusion of the Eighth Plan.
Abbaszadeh further detailed the expected changes in the industry over
the next decade, projecting that current methanol production capacity of 16
million tons will rise to 34 million tons, with a portion used in GTP projects.
He also forecasted an increase in ammonia production from 7 million tons to 10
million tons and a rise in polymer production from 9 million tons to 30 million
tons.
Regarding natural gas feedstock supply, he noted that the petrochemical
sector currently has the capacity to receive around 100 million cubic meters of
gas daily, with an average of 70 million cubic meters received last year.
He emphasized the need for petrochemical industry stakeholders to pay
close attention to the Seventh Development Plan, as several aspects will
significantly impact the sector, including the transfer of shares by financial
institutions and prioritizing gas extraction from flare gas recovery projects.
The 15th International Petrochemical Industry Conference, hosted by
the National Petrochemical Company, saw widespread participation, with
approximately 1,600 attendees on the first day and 1,000 on the second.
Abbaszadeh noted that five foreign delegations participated in the event,
contributing to specialized discussions.
The conference focused on "Clean Technology" and was held on
August 14 and 15 at the IRIB Conference Hall in Tehran.