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Iran allocates only 4.5% of gas Output to Petchem units, says Deputy Oil Minister

Iran allocates only 4.5% of gas Output to Petchem units, says Deputy Oil Minister
(Tuesday, May 2, 2023) 15:02

TEHRAN (NIPNA) -- Iran's Deputy Petroelum Minister and CEO of the National Petrochemical Company, Morteza Shahmirzaei, announced that the country's petrochemical industry receives less than 10% of the country's gas daily, of which production units' share is only 4.5%.

Shahmirzaei made this announcement on the sidelines of the 14th Iran Petrochemical Forum, where two training workshops were held to promote business and discuss the value chain of compounding.

In the business promotion workshop, catalyst manufacturers showcased their production catalyst and assured that Iran's production catalyst can compete in regional markets. Meanwhile, in the training workshop on compounding and value chain, the organizers emphasized the importance of compounding, which has a high hard currency rate, and the need to utilize new technologies in this sector.

Shahmirzaei expressed his satisfaction with the specialized meetings held on the sidelines of the conference, stating that the petrochemical industry is the most valuable industry in Iran and can drive industrial units, including car manufacturers and small and large industries.

However, the CEO of the National Petrochemical Company also highlighted the importance of complying with gas consumption patterns to prevent damage to production and industrial units. Currently, power plants in the country receive 300 million cubic meters of gas daily at peak consumption, while the petrochemical industry only receives a small fraction of this amount.

Shahmirzaei expressed hope that the outcome of the workshops would lead to a variety of petrochemical products and the supply of more products in international markets. With the petrochemical industry being a driving force for Iran's economy, it is crucial to ensure its success through effective management of gas consumption and the implementation of new technologies in key sectors such as compounding.

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