Speaking on Sunday at a specialized panel on the future of the
petrochemical industry during the third Petrotech Conference, Abbaszadeh
highlighted that Iran’s petrochemical production capacity has reached nearly
100 million metric tons. Around 60% of this output is dedicated to essential
base products such as methanol, ammonia, ethylene, and other key chemicals.
Abbaszadeh acknowledged setbacks in propylene production but
emphasized that completing the product’s value chain would enable the creation
of high-value-added products, allowing both domestic supply and exports to
international markets.
Highlighting the importance of technological advancement, Abbaszadeh
noted that Iran’s Seventh Development Plan outlines a clear path for growth
across various dimensions of the industry. He also stated that three utility
complexes in the sector collectively generate around 4,000 megawatts of
electricity, with surplus power fed into the national grid.
Currently, only 4% of Iran’s produced gas is used as feedstock in
petrochemical facilities, Abbaszadeh said, underlining the need for better
utilization of oil and gas reserves. He stressed diversifying feedstock
sources, integrating renewable energy, and adopting modern technologies to
achieve growth targets.
Private Sector Support Critical for Petrochemical Growth
In the same panel, Mohammad Reza Nematzadeh, a senior industry expert,
emphasized the private sector’s capacity to drive transformation within the
petrochemical industry. "Supporting private investments will pave the way
for producing a wider range of petrochemical products," he said.
Nematzadeh also addressed concerns about feedstock shortages,
asserting that with efficient use of hydrocarbon resources, Iran’s
petrochemical plants could secure feedstock supplies for the next 50 years.
Parliament’s Commitment to Petrochemical Development
Mostafa Nakhaei, a member of Iran’s Parliamentary Energy Commission,
reiterated the legislature’s support for the industry despite challenges such
as sanctions and feedstock limitations. He called for increased global
competitiveness and a stronger presence in international markets by leveraging
advanced technologies to produce higher-value-added products.
The panel also featured insights from Dr. Maleki, a professor at
Sharif University of Technology, and Sadegh Jokar, CEO of the Lorch
Petrochemical Project, who shared their perspectives on the future of Iran’s
petrochemical sector.