“Our focus is no longer just on expanding capacity but on creating
high-value petrochemical products across five targeted chains,” NPC Chairman
Hassan Abbaszadeh said Tuesday.
Speaking with NIPNA News, Abbaszadeh highlighted that the
petrochemical industry achieved an annual growth rate of 8% under the sixth
development plan, reaching a production capacity of 96 million tons.
The NPC is set to maintain this growth rate in the upcoming seventh
plan, with a targeted capacity increase to 132 million tons per year.
The NPC’s development blueprint also leverages Iran’s diverse
feedstock sources. Unlike the Mahshahr region, which relies primarily on crude
oil and derivatives, the energy-abundant South Pars region taps natural gas, a
resource that fuels Iran's growing methanol, urea, ammonia, and ethylene
production.
Maximizing Economic Impact with Efficient Gas Use
The petrochemical sector’s contribution to the Iranian economy
continues to expand, Abbaszadeh noted, with the sector utilizing around 9% of
the nation’s natural gas. “While residential and commercial sectors consume 46%
of produced gas and power plants 31%, neither is highly efficient,” he
remarked. The petrochemical sector, by contrast, converts 4.5% of gas
consumption into high-value feedstock, generating around $23 billion in sales
last year. Of this, $13 billion was earned through exports, while $10 billion
supplied domestic demand.
Moreover, NPC’s development plan includes $24 billion for 61 new
petrochemical projects. Approximately half of the required capital has been
secured, with projects showing an average progress rate of 60%.
Projected Increase in Value-Added Output
Under the eighth development plan, set to launch post-2030, Iran aims
to attract an additional $40 billion in investment across 48 petrochemical
projects, significantly enhancing the industry’s output capacity. Abbaszadeh
underscored that by the end of the ten-year horizon, the NPC expects to process
an equivalent of 2.6 million barrels of crude oil daily into value-added
products.
Currently, out of the 72 active petrochemical complexes in Iran, 24
are located within the South Pars Special Economic Energy Zone, contributing
about 50% of the national petrochemical capacity.
In line with the country’s export strategy, NPC’s 15 active jetties in
South Pars facilitated the export of 21 million tons of petrochemical products
last year. By completing the petrochemical value chain, the Ministry of
Petroleum and NPC aim to boost overall efficiency and maximize economic returns
for the sector.