A shortage of gas feedstock means that only 40mn tons/year of Iran’s 60mn t/y nameplate petrochemicals capacity is in use, National Petrochemical Company (NPC) Managing Director Abbas Moqaddam says. The feedstock shortfall is partly due to delays in expanding output from the giant South Pars gas field, as well as competition from power plants for gas supplies (MEES, 24 January).
The shortage makes the 2mn t/y, by which Mr Moqaddam says NPC will boost its petchems production capacity in the Iranian year ending 20 March 2015, of little more than academic interest. “With the completion of the 60 unfinished projects remaining from the previous [Ahmadinejad] administration and the implementation of 36 new methane-fed projects, capacity will soar past 120mn t/y,” Mr Moqaddam says. Oil Minister Bijan Zanganeh says the expansion requires $70bn of investment in Iran’s petrochemicals sector. (CONTINUED - 290 WORDS)