Iran Inks First Post-Sanctions Petchems Deal: Will It Catalyze Sector Revival?

Iran has signed its first petchems technology deal since the lifting of international sanctions, renewing access to the state-of-the art technology crucial to reviving Iran’s petchems expansion.

Danish process technology firm Haldor Topsoe this week announced a preliminary deal to supply licenses, engineering, proprietary equipment, materials and catalyst for a methanol plant to be built by an affiliate of state National Petrochemical Company (NPC) at a new industrial zone near the port of Chabahar, on the Gulf of Oman outside the Strait of Hormuz.

While the deal is the first petrochems agreement since international sanctions against Tehran were lifted in January, it will be dwarfed by anticipated upstream oil and gas development deals and also in refining, where Italy’s Saipem has already secured revamps of the Shiraz and Tabriz plants (MEES, 29 January).


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